MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Name :

HOUSE OF MEDICINE AND INVESTMENT

 

 

Registered Office :

Bahray, North Khartoum, P O Box 1201, Khartoum

 

 

Country :

Sudan

 

 

Year of Establishment :

1972

 

 

Com. Reg. No.:

8/5611

 

 

Legal Form :

General Partnership

 

 

Line of Business :

Distributors of pharmaceutical preparations, medical equipment, surgical instruments, laboratory equipment and baby food

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 150,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Sudan

c1

c1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

SUMMARY

 

Company Name                                     : HOUSE OF MEDICINE AND INVESTMENT

Country of Origin                                    : Sudan

Legal Form                                            : General Partnership

Registration Date                                   : 1972

Commercial Registration Number            : 8/5611

Invested Capital                                     : SD 3,000,000

Total Workforce                                     : 13

Activities                                               : Distributors of pharmaceutical preparations, medical equipment,

surgical instruments, laboratory equipment and baby food.

Financial Condition                                 : Undetermined

Payments                                             : Nothing detrimental uncovered

Recommended Credit Limit                     : US$ 150,000

 

 

 

 

COMPANY NAME

 

HOUSE OF MEDICINE AND INVESTMENT

 

 

company ADDRESS

 

Registered & Physical Address

Location            : Bahray, North Khartoum

PO Box             : 1201

Town                 : Khartoum

Country             : Sudan

Telephone         : (249-183) 772537 / 797042 / 770475

Facsimile          : (249-183) 784686 / 784572

Mobile               : (249-912) 303651

 

Premises

Subject operates from a medium sized suite of offices and a warehouse that are rented and located in the Industrial Area of Khartoum.

 

 

KEY PRINCIPALS

 

     Name                                                                                              Position

 

·         Samy Ibrahim Yacoub Ibrahim                                                           Managing Partner

 

·         Sameh Ibrahim Yacoub Ibrahim                                                         Partner

 

·         Atta Al Manan Othman                                                                     Finance Manager

 

·         Ibrahim Bala                                                                                    Commercial Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1972

 

Legal Form                  : General Partnership

 

Commercial Reg. No.  : 8/5611

 

Partners Capital           : SD 3,000,000

 

Name of Partner (s)

 

·       Sammy Ibrahim Yacoub Ibrahim

 

·       Sameh Ibrahim Yacoub Ibrahim

 

 

AFFILIATED COMPANIES

 

·       House of Trade and Investment Co Ltd

Khartoum

 

·       Homewise Property Ltd

London

United Kingdom

 

·       Bee Petroleum Co Ltd

Khartoum

 

·       Building for Development and Investment

Khartoum

 

 

OPERATIONS

 

Activities: Engaged in the import and distribution of pharmaceutical preparations, medical equipment, surgical

     instruments, laboratory equipment and baby food.

 

Import Countries: Europe, China and India.

 

Subject has a workforce of 13 employees.

 

 

FINANCIAL DATA

 

Companies registered in Sudan are not legally required to make their accounts public and no financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

·       Omdurman National Bank

PO Box: 11522

Khartoum

Tel: (249-183) 770400

Fax: (249-183) 770392

 

·       Sudanese French Bank

PO Box: 1950

Khartoum

Tel: (249-183) 774285

Fax: (249-183) 771831

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

RATING EXPLANATIONS

 

RATING

STATUS

 

 

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

 

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

 

Satisfactory

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

 

 

Credit not recommended

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.