MIRA INFORM REPORT

 

 

Report Date :

03.12.2012

 

IDENTIFICATION DETAILS

 

Name :

SO PRO PHA SARL

 

 

Registered Office :

BP E 3969 Bamako

 

 

Country :

Mali

 

 

Date of Incorporation :

01.04.2004

 

 

Legal Form :

Societe Anonyme Responsabilite Limitee.

 

 

Line of Business :

Importers and distribution of pharmaceuticals and allied products 

 

 

No. of Employees :

145

 

 

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Mali

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Mali - ECONOMIC OVERVIEW

 

Among the 25 poorest countries in the world, Mali is a landlocked country highly dependent on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest. Mali remains dependent on foreign aid. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government in 2011 completed an IMF extended credit facility program that has helped the economy grow, diversify, and attract foreign investment. Mali is developing its cotton and iron ore extraction industries to diversify foreign exchange revenue away from gold. Mali has invested in tourism but security issues are hurting the industry. Mali experienced economic growth of about 5% per year between 1996-2010.

 

Source : CIA

 

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

SO PRO PHA SARL

Principal Address:

BP E 3969 Bamako, Mali

Telephone:

+223-20218944/ 20233639

Fax:

+223 -2218944

Email:

none

Internet:

none

Established:

01/04/2004

Registration:

19615 Mali

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

145

 

 

 

Office & Factories

Head offices

Route De, Bougubazone, Industrielle, Bamako, Mali

Branches

None

 

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

President/ CEO (1)

Name

Mr. Deepak Moolchandani

Active in daily business:

Active

Current Title:

Director

Country of residence

Mali

Remarks

Top Decision Maker

 

Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.

 

 

NEGATIVE INFORMATION

 

No negative information found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

Nominal Capital

CFA. 100,000,000

Paid in Capital

CFA. 100,000,000

Subscribed Capital

CFA. 100,000,000

Shareholders

Name

Position

   Amount  

       Ratio

Mr. Deepak Moolchandani

Director

 

 

Mr.Bernard Sanou

Manager

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

30% in cash, 70% on credit

Selling terms

80% in cash, 20% on credit

Suppliers

Various suppliers such as SOLITAIRE TRADE-LINK PVT. LTD etc

Customers

Distribution agencies , hospitals, Pharmaceutical stores and outlets

 

 

Recent Sales

CFA. 902,000,000  (2011 Estimated)

Exports

None

Export Ratio

10.0%

Import Ratio

30.0%

Domestic Market Share

20.0%

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

 

FINANCIAL INFORMATION

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = CFA. 504.82

 

 

ADDITIONAL INFORMATION

 

Established:

01/04/2004

Registration:

19615 Mali

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

145

 

 

 

Office & Factories

Head offices

Route De, Bougubazone, Industrielle, Bamako, Mali

Branches

None

 

Business Activities

Importers and distribution of pharmaceuticals and allied products 

 

Business Premises

10,000 Sft

Type of occupation                                              

Owned

Location 

The subject is located close to a major road network                      

Premises used as                                               

Offices, Workshop, Warehouse

 

Banking relationship

Main Banks

Eco Bank

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.52

UK Pound

1

Rs.87.48

Euro

1

Rs.70.89

 

 

INFORMATION DETAILS

 

Report Prepared by :

SDA

 

 

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.