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Report Date : |
21.11.2012 |
IDENTIFICATION DETAILS
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Name : |
AXIS PHARMA |
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Registered Office : |
B.P. 9862 |
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Country : |
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Date of Incorporation : |
12.05.2010 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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|
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Line of Business : |
Distributors of pharmaceutical
products and related facilities |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Burundi |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
BURUNDI - ECONOMIC OVERVIEW
Burundi is a landlocked, resource-poor country with
an underdeveloped manufacturing sector. The economy is predominantly agricultural.
It accounts for just over 30% of GDP and employs more than 90% of the
population. Burundi's primary exports are coffee and tea, which account for 90%
of foreign exchange earnings, though exports are a relatively small share of
GDP. Burundi's export earnings - and its ability to pay for imports - rests
primarily on weather conditions and international coffee and tea prices. The
Tutsi minority, 14% of the population, dominates the coffee trade. An
ethnic-based war that lasted for over a decade resulted in more than 200,000
deaths, forced more than 48,000 refugees into Tanzania, and displaced 140,000
others internally. Only one in two children go to school, and approximately one
in 15 adults has HIV/AIDS. Food, medicine, and electricity remain in short
supply. Less than 2% of the population has electricity in its homes. Burundi's
GDP grew around 4% annually in 2006-11. Political stability and the end of the
civil war have improved aid flows and economic activity has increased, but
underlying weaknesses - a high poverty rate, poor education rates, a weak legal
system, a poor transportation network, overburdened utilities, and low
administrative capacity - risk undermining planned economic reforms. The
purchasing power of most Burundians has decreased as wage increases have not
kept up with inflation. Burundi will remain heavily dependent on aid from
bilateral and multilateral donors - foreign aid represents 42% of Burundi's
national income, the second highest rate in Sub-Saharan Africa; the delay of funds
after a corruption scandal cut off bilateral aid in 2007 reduced government's
revenues and its ability to pay salaries. Burundi joined the East African
Community, which should boost Burundi's regional trade ties, and received $700
million in debt relief in 2009. Government corruption is also hindering the
development of a healthy private sector as companies seek to navigate an
environment with ever changing rules
|
Source
: CIA |
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COMPANY REPORTED: |
AXIS PHARMA |
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Principal Address: |
B.P. 9862 Bujumbura, Burundi |
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Telephone: |
+257-22277686 |
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Fax: |
+257-22277686 |
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Email: |
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Internet: |
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Established: |
12/05/2010 |
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Registration: |
Bujumbura, Burundi |
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Legal Form: |
Limited Liability Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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10 |
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Office & Factories |
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Head offices |
11, Rue De La Victoire, Bujumbura, Burundi |
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Branches |
None |
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Management/ Directors |
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President/ CEO (1) |
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Name |
Mr. Roshan Saldanha |
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Active in daily
business: |
Active |
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Current Title: |
Director |
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Country of residence |
Burundi |
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Remarks |
Top Decision Maker |
|
Manager (2) |
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Name |
Mr.
Deepak T. S. |
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Active in daily
business: |
Active |
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Current Title: |
Mananger |
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Country of residence |
Burundi |
̃ 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.
No
negative information found
|
Nominal Capital |
BIF. 1,000,000 |
|
Paid in Capital |
BIF. 1,000,000 |
|
Subscribed Capital |
BIF. 1,000,000 |
|
Shareholders |
|
||
|
Name |
Position |
Amount
|
Ratio |
|
Mr.
Roshan Saldanha |
Director |
|
|
|
Mr.
Deepak T. S. |
Manager |
|
|
|
Total |
|
|
100.00% |
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Terms of payment |
|
Buying terms |
30% in cash, 70% on credit |
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Selling terms |
80% in cash, 20% on credit |
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|
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Suppliers |
Various companies |
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Customers |
Chemists, Pharmacies, Public |
|
|
|
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Recent Sales |
BIF.
700,000,000 (2011 Estimated) |
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Exports |
None |
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Export Ratio |
0.0% |
|
Import Ratio |
30.0% |
|
Domestic Market Share |
20.0% |
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Affiliated Companies |
None |
N/a
|
Exchange Rate |
US$ 1 = BIF. 1470.01 |
|
Business Activities |
Distributors
of pharmaceutical products and related facilties |
|
Business Premises |
1000 Sft |
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Type of occupation
|
Rented |
|
Location |
The subject is located close to a major road network |
|
Premises used as
|
Offices |
|
Banking relationship |
|
|
Main Banks |
Ecobank |
---
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.91 |
|
|
1 |
Rs.87.38 |
|
Euro |
1 |
Rs.70.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.