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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
|
Name : |
NATIONAL MEDICAL STORES |
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Registered Office : |
Plot 4-12 Nsamizi Road P. o. Box 16
Entebbe |
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Country : |
Uganda |
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Date of Incorporation : |
03.12.1993 |
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Legal Form : |
State Corporation |
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Line of Business : |
Providers of pharmaceuticals |
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No. of Employees : |
100 employees. |
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 |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Uganda |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
UGANDA - ECONOMIC OVERVIEW
Uganda has substantial natural resources, including fertile
soils, regular rainfall, small deposits of copper, gold, and other minerals,
and recently discovered oil. Uganda has never conducted a national minerals
survey. Agriculture is the most important sector of the economy, employing over
80% of the work force. Coffee accounts for the bulk of export revenues. Since
1986, the government - with the support of foreign countries and international
agencies - has acted to rehabilitate and stabilize the economy by undertaking
currency reform, raising producer prices on export crops, increasing prices of
petroleum products, and improving civil service wages. The policy changes are
especially aimed at dampening inflation and boosting production and export
earnings. Since 1990 economic reforms ushered in an era of solid economic
growth based on continued investment in infrastructure, improved incentives for
production and exports, lower inflation, better domestic security, and the
return of exiled Indian-Ugandan entrepreneurs. Uganda has received about $2
billion in multilateral and bilateral debt relief. In 2007 Uganda received $10
million for a Millennium Challenge Account Threshold Program. The global
economic downturn hurt Uganda's exports; however, Uganda's GDP growth has
largely recovered due to past reforms and sound management of the downturn. Oil
revenues and taxes will become a larger source of government funding as oil
comes on line in the next few years. Rising food and fuel prices in 2011 led to
protests. Instability in South Sudan is a risk for the Ugandan economy because
Uganda's main export partner is Sudan, and Uganda is a key destination for
Sudanese refugees. Unreliable power, high energy costs, inadequate
transportation infrastructure, and corruption inhibit economic development and
investor confidence
Source
: CIA
Registered Name: NATIONAL MEDICAL STORES
Requested Name: NATIONAL
MEDICAL STORES
Other Names: NMS
Physical Address: Plot 4-12 Nsamizi Road
Postal Address: P. o. Box 16
Entebbe,
Country: Uganda
Phone: 256-414-320507/542
Fax: 256-414-320542
Email: mtkam@nms.go.ug/
pbbyaruhanga@nms.go.ug/ mtkam@nms.go.ug
Website: www.nms.go.ug
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: State Corporation
Date Incorporated: 03/12/1993
Reg. Number: Uganda
Nominal Capital UGS. 1,000,000
Subscribed Capital UGS. 1,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Dr. Phillip
Bazaale Byaruhanga Chairman
Dr Jane Ruth Aceng Director
Mr. Justinian
Niwagaba Director
Mr. George
Omunyokol Director
Ms. Purity Pamela
E. Blessed Director
Mr. Patrick
Ocailap Director
Mrs. Sarah Nyombi
Nansubuga Director
Dr. Alfred Driwale Director
Mrs. Beatrice
Rwakimari Director
Dr. Shaban
Abdullah Director
Dr. Patrick
Kerchan Director
Mr. Simplicious
Wagaba Director
Mr. Moses Kamabare GM
Government Of
Uganda Shareholder 100%
Government Of Uganda Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Various in Uganda Branches of the firm
Registered to operate as providers of pharmaceuticals in Uganda
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: 100%
tenders
Main Customers: General
Public
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Uganda
Location: Owned
premises, 100,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Ugandan Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2557.54 Ugandan 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 UGS.)
2012
Income 2,000,000,000
Bank Name: Bank of Uganda
Branch: Uganda
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.54.03 |
|
|
1 |
Rs.82.43 |
|
Euro |
1 |
Rs.70.49 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.