MIRA INFORM REPORT
|
Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
|
Name : |
BETA HEALTHCARE INTERNATIONAL LTD. |
|
|
|
|
Registered Office : |
Mogadishu Road
off Lunga Lunga Rd, Industrial Area |
|
|
|
|
Country : |
Kenya |
|
|
|
|
Date of Incorporation : |
24.12.1942 |
|
|
|
|
Com. Reg. No.: |
947 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
dealers in
pharmaceutical products and medicinal drugs |
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 : |
USD 200,000 |
|
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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Kenya |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT'S NAME
Registered Name: BETA HEALTHCARE INTERNATIONAL LTD.
Requested Name: BETA
HEALTHCARE INTERNATIONAL LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Mogadishu
Road off Lunga Lunga Rd, Industrial Area
Postal Address: P.o. Box 42569-00100)
Nairobi
Country: Kenya
Phone: 254-20-6530106
Fax: 254-20-544098/
556198/ 552954
Email: betacare@africaonline.co.ke
Website: www.betacare.co.ke
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a medium risk
of credit. However, bank and credit information obtained reveal a history of
prompt payments. We recommend Credit of USD 200,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 24-Dec-1942
Reg. Number: 947
Nominal Capital KES. 33,800,000
Subscribed Capital KES. 30,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Nazir Ally Chairman
Dr. Sanjay Advani CEO
Mr. Stephen Saad Director
Mr. Dipen Shah Director
Mr. Gavin Jones Director
Mr. Ian Parker Director
Mr. Ankush Shah Director
Mr. Dipen Shah Director
Mr. Jayesh Shah Director
Mr. Samir Shah Director
Mr. Muzaffer
Musajee Essajee Director
Mr. Richard James
Steel Shareholder 20.00%
Acacia Fund
Limited Shareholder 20.00%
Aureos East Africa
Fund Shareholder 30.00%
Shelys Africa Group Shareholder 30.00%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
SHELYS PHARMACEUTICALS
LIMITED,
BETA HEALTHCARE UGANDA LIMITED. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in pharmaceutical products and
medicinal drugs
Imports: Asia,
Europe
Exports: Neighboring
countries
Trademarks: None
Terms
of sale: Cash (40%) and
25-90 days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 300
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 25.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 100.10 Kenya 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 KES.)
2010
Sales 878,460,,000
BANK
Bank Name: KENYA COMMERCIAL BANK LTD
Branch: Industrial Area Branch, P.o. Box 18031, Nairobi, Kenya
Comments: Other Banks
BARCLAYS
BANK
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
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.87 |
|
UK Pound |
1 |
Rs.78.11 |
|
Euro |
1 |
Rs.68.36 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.