|
Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
MEDICAL STORES DEPARTMENT |
|
|
|
|
Registered Office : |
Off Nyerere Road, Keko Mwanga, Dar Es Salaam |
|
|
|
|
Country : |
Tanzania |
|
|
|
|
Date of Incorporation : |
01.04.1993 |
|
|
|
|
Com. Reg. No.: |
14/978 Dar Es salaam, Tanzania |
|
|
|
|
Legal Form : |
State Corporation |
|
|
|
|
Line of Business : |
Distributors of
pharmaceuticals and other related medical products |
|
|
|
|
No. of Employees : |
300 |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Tanzania |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
tanzania ECONOMIC OVERVIEW
Tanzania is one of the world's poorest economies in terms of per capita income, however, it has achieved high overall growth rates based on gold production and tourism. Tanzania has largely completed its transition to a liberalized market economy, though the government retains a presence in sectors such as telecommunications, banking, energy, and mining. The economy depends 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. The financial sector in Tanzania has expandewd in recent years and foreign-owned banks account for about 48% of the banking industry's total assets. Competition among foreign commercial banks has resulted in significant improvements in the efficiency and quality of financial services, though interest rates are still relatively high, reflecting high fraud risk. All land in Tanzania is owned by the government, which can lease land for up to 99 years. Proposed reforms to allow for land ownership, particularly foreign land ownership, remain unpopular. 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, and in December 2012 the Millennium Challenge Corporation selected Tanzania for a second Compact. Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the impact of the global recession. GDP growth in 2009-12 was a respectable 6% per year due to high gold prices and increased production.
|
Source : CIA |
Registered Name: MEDICAL STORES DEPARTMENT
Requested Name: MEDICAL
STORES DEPARTMENT
Other Names: None
Physical Address: Off Nyerere Road, Keko Mwanga, Dar Es Salaam
Postal Address: P.o. Box 9081
Dar-Es-Salaam,
Country: Tanzania
Phone: 255-22-2860890/7/891/7
Fax: 255-22-2865814/19
Email: info@msd.or.tz
Website: www.msd.or.tz
Legal Form: State Corporation
Date Incorporated: 1-April-1993
Reg. Number: 14/978
Dar Es salaam, Tanzania
Nominal Capital TZS. 1,000,000,000
Subscribed Capital TZS. 1,000,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Joseph Mgaya MD
Mr. Christopher
Msemo Director
Mr. Isaya Mzoro Director
Government of
Tanzania Holding Co 100.00%
Government of
Tanzania Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Dar Es Salaam,
Mtwara, Iringa, Moshi, Tabora, Mbeya, Tanga and Dodoma Branches of the firm
Distributors of
pharmaceuticals and other related medical products
Imports: Italy, China, India and South Africa
Exports: Uganda and
Tanzania (10%)
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and organizations
Employees: 300 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Tanzania
Location: Owned premises,
5.000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tanzania Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1626.49 Tanzania Shillings
Fiscal
Year End: December 31, 2012
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in TZS.)
2012
Sales 30,850,000,000
Bank Name: Standard Chartered Bank Tanzania
Ltd,
Branch: Ohio/Sokoine
Drive, P. o. Box 9011, Dar Es Salaam, Tanzania
Comments: Other Banks
(NBC (1997) LTD),
Tanzania
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.54.03 |
|
UK Pound |
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.