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Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
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Name : |
HEKO PHARMACY |
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Registered Office : |
Aggrey
Street, Plot No. 48, Block No. 19 |
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Country : |
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Date of Incorporation : |
10.06.1988 |
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Com. Reg. No.: |
15273 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
distribution of
pharmaceutical products |
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No. of Employees : |
30 employees |
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
Tanzania - ECONOMIC OVERVIEW
Tanzania is one of the world's poorest economies in terms of per capita income, however, Tanzania averaged 7% GDP growth per year between 2000 and 2008 on strong gold production and tourism. The economy depends heavily on agriculture, which accounts for more than one-quarter of GDP, provides 85% of exports, and employs about 80% of the work force. The World Bank, the IMF, and bilateral donors have provided funds to rehabilitate Tanzania's aging economic infrastructure, including rail and port infrastructure that are important trade links for inland countries. Recent banking reforms have helped increase private-sector growth and investment, and the government has increased spending on agriculture to 7% of its budget. Continued donor assistance and solid macroeconomic policies supported a positive growth rate, despite the world recession. In 2008, Tanzania received the world's largest Millennium Challenge Compact grant, worth $698 million. Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the impact of the global recession. GDP growth in 2009-11 was a respectable 6% per year due to high gold prices and increased production.
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Source : CIA |
Registered Name: HEKO PHARMACY
Requested Name: HEKO
PHARMACY
Other Names: None
Physical Address: Aggrey
Street, Plot No. 48, Block No. 19
Postal Address: P. o. Box 2657
Kariakoo, Dar Es Salaam
Country: Tanzania
Phone: 255-22-2180698/
701/ 799
Cell Phone: 255-754295155
Fax: 255-22-2180698
Email: hekopharmacy@cats-net.com
Website: None
Financial
Index as of December 2011 shows subject firm with a medium risk of credit.
However, bank and credit information obtained reveal a history of prompt
payments.
Legal Form: Limited Corporation
Date Incorporated: 10-June-1988
Reg. Number: 15273
Nominal Capital TZS 20,000,000
Subscribed Capital TZS. 6,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Kishore Vrajlal Pranjivan Director 3390
Mr. Ashok Vrajlal Pranjivan Director 3390
Mr. Pradipkumar Kanji Parmar Director 20
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Mwanza, Tanzania Branches of the firm
Registered to operate distribution of pharmaceutical products
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Hospitals,
pharmacies etc
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Leased
premises, 7,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tanzania Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1598.49 Tanzania Shillings
Fiscal Year End: December
31, 2011
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2011 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in TZS.)
2010 2011
Sales 1,595,000,000 1,754,000,000
Bank Name: Standard
Chartered Bank
Branch: 1st Floor, International House, P O Box 9011, Shaban, Robert,
Garbal Avenue, Tanzania
Comments: None
Experiences: Good
None
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.54.95 |
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UK Pound |
1 |
Rs.88.42 |
|
Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<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.