MIRA
INFORM REPORT
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Report Date : |
18.10.2011 |
IDENTIFICATION DETAILS
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Name : |
THE FRED HOLLOWS LOL LABORATORY |
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Registered Office : |
Bagmati Pul, Gaushala, Kathmandu |
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Country : |
Nepal |
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Date of Incorporation : |
05.02.1985 |
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Legal Form : |
Partnership |
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Line of Business : |
Manufacturer of
Intraocular Lens (IOC) |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Nepal |
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 |
Company name and address
The Fred
Hollows Lol Laboratory
Address:
Bagmati Pul, Gaushala, Kathmandu, Nepal
Postal Address: PO Box 561, Kathmandu, Nepal
Phone: + 977 1449 3775
Fax: + 977 1447 4937
Email: tec@tilganga.com.np
Location: Owned
Summary
Years Established : 05.02.1985
Type of Concern : Partnership
Name of the Partners : 1. Dr Sanduk Ruit
2.
S. Sreshtha
Activity : Manufacturer of Intraocular Lens
(IOC)
Auditors : A. K. Karki & Sons, Kathmandu,
Nepal
Bankers : Nepal Grindlays Bank Ltd., Kathmandum,
Nepal
Bank
of Kathmandu, Nepal
Trading Terms : Purchasing – Cash, Credit (30
Days)
Selling -
Cash, Credit (30 Days)
Type of Customers :
End Users, OEM’s
No. of Employees :
90 Approximately
Business :
The Fred Hollows
IOL Laboratory is now one of six divisions within Tilganga Institute
of Ophthalmology. Local staff produce up to 15,000 high quality rigid lenses
and 2,000 foldable lenses per month, which are exported to 40 countries.
The laboratory has
produced over 2 million IOLs since 1994, reducing their cost from US$100 to
US$4.
The laboratory
recently started producing foldable IOLs as an addition to its rigid IOLs.
While the rigid IOLs are much cheaper to produce, the foldable IOLs enable
operations to be performed faster and provide a superior visual outcome.
Following a
transition phase, which included the up-skilling of local staff, the laboratory
is now completely self-funded and locally managed.
Through our program work in
Nepal:
- Over 10,647 cataract surgeries were conducted at TIO and through
outreach mobile eye clinics - operating in some of the world's most remote
regions
- 152,268 patients walked through the doors of TIO to receive eye
care
- New facilities at TIO significantly increase its capacity to
provide quality blindness prevention services to the people of Nepal (and
is becoming one of Asia's leading eye care training centres)
- Over 48,226 patients from rural areas of Nepal received eye care at
Community Eye Centres supported by The Foundation
- More than 120 personnel received training in eye care, including
surgeons, nurses and community health workers.
Dr Sanduk Ruit, a highly
skilled and respected surgeon in Nepal, had a special friendship with Fred
Hollows and they both shared the same outlook on life, medical philosophies and
vision - of a world where no one is needlessly blind. Both men were driven
to overcome the obstacles of providing high quality eye care to
people in Nepal.
As Medical Director at TIO,
Dr Ruit continues to be recognised as one of the giants of world ophthalmology
- having restored sight to around 100,000 people alone, and trained thousands
of eye health workers from around the world.
Member : Dept. of Eye Dept.
Financial
Working Capital- Nep. Rs. 3.5 Core.
Turnover- Nep.
Rs. 7.6 Core.
Remarks : Well established, respectable, payments
are reported to be correct and regular as per commitments, trade relations are
fair, consider good for normal business engagements at usual trade terms and
conditions.
Information parted
Name : Mr. Anil Subedi
Designation : Accounts Executive
Date : 18.10.2011
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.89 |
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1 |
Rs.77.31 |
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Euro |
1 |
Rs.67.79 |
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.