MIRA INFORM
REPORT
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Report Date : |
18.07.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MEDICAL STORES DEPARTMENT |
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Registered Office : |
Medical Stores
Department, Off Nyerere Road, Keko
Mwanga Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
01.04.1993 |
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Com. Reg. No.: |
14/978 Dar Es salaam, Tanzania |
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Legal Form : |
State Corporation |
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Line of Business : |
pharmaceuticals and other related medical
products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Tanzania |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Bottom of Form
SUBJECT'S NAME
Registered Name: MEDICAL STORES DEPARTMENT
Requested Name: THE
DIRECTOR GENERAL
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Medical
Stores Department, Off Nyerere Road, Keko
Mwanga Dar Es
Salaam
Postal Address: P.o. Box No. 9081
Dar-Es-Salaam,
Country: Tanzania
Phone: 255-22-2860890/7/891/7
Fax: 255-22-2865814/19
Email: info@msd.or.tz
Website: www.msd.or.tz
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with
a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: State Corporation
Date Incorporated: 1-April-1993
Reg. Number: 14/978
Dar Es salaam, Tanzania
Nominal Capital TZS. 1,000,000,000
Subscribed Capital TZS. 1,000,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Joseph Mgaya MD/ Director General
Mr. Christopher
Msemo Director
Mr. Isaya Mzoro Director
Government of
Tanzania Holding Company 100.00%
RELATED COMPANIES
Government of Tanzania Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Dar Es Salaam,
Mtwara, Iringa, Moshi, Tabora,
Mbeya, Tanga and
Dodoma Branches of the firm
OPERATIONS
Distributors of
pharmaceuticals and other related medical products
Imports: Italy, China, India and South Africa
Exports: Uganda and
Tanzania (10%)
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 300 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Tanzania
Location: Owned premises,
5.000 square feet,
AUDITORS
AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Tanzania Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1605.40 Tanzania Shillings
Fiscal
Year End: December 31, 2010
Inflation: According to
information given by independent sources, the inflation at December 31st,
2010 was of 13%.
Financial
Information not Submitted
Profit and Loss
(expressed in TZS.)
2010
Sales 21,850,000,000
BANK
Bank Name: Standard Chartered Bank Tanzania
Ltd,
Branch: Ohio/Sokoine
Drive, P. o. Box 9011, Dar Es Salaam, Tanzania
Comments: Other Banks
(NBC (1997) LTD),
Tanzania
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.53 |
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UK Pound |
1 |
Rs.71.91 |
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Euro |
1 |
Rs.62.98 |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NB |
New Business |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.