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Report Date : |
03.08.2013 |
IDENTIFICATION DETAILS
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Name : |
OPERA PHARMA KENYA LIMITED |
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Registered Office : |
No 8 of C B & S B Patel Building ICDC Road Next to KPA Inland Container
Deport (ICD), Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
10.06.1998 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers I pharmaceutical products and related facilites |
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No. of Employees : |
20 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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Kenya |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
KENYA - ECONOMIC OVERVIEW
Kenya has been hampered by corruption and by reliance upon
several primary goods whose prices have remained low. Low infrastructure
investment threatens Kenya's long-term position as the largest East African
economy. In the key December 2002 elections, Daniel MOI's 24-year-old reign
ended, and a new opposition government took on the formidable economic problems
facing the nation. After some early progress in rooting out corruption and
encouraging donor support, the KIBAKI government was rocked by high-level graft
scandals in 2005 and 2006. In 2006, the World Bank and IMF delayed loans
pending action by the government on corruption. The international financial
institutions and donors have since resumed lending, despite little action on
the government''s part to deal with corruption. Unemployment is very high. The
country has experienced chronic budget deficits, inflationary pressures, and
sharp currency depreciation - as a result of high food and fuel import prices.
The discovery of oil in March 2012 provides an opportunity for Kenya to balance
its growing trade deficit if the deposits are found to be commercially viable
and Kenya is able to develop a port and pipeline to export its oil.
Source
: CIA
Registered Name: OPERA PHARMA KENYA LIMITED
Requested Name: OPERA
PHARMA KENYA LIMITED
Other Names: None
Physical Address: No 8 of C B & S B Patel
Building ICDC Road Next to KPA Inland Container Deport (ICD), Nairobi
Postal Address: P. o. Box 14406-00800
Nairobi,
Country: Kenya
Phone: 254-20-3744002
Cell: 254-737786876
Fax: 254-20-3744002
Email: None
Website: None
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: Limited Corporation
Date Incorporated: 10-June-1998
Reg. Number: Kenya
Nominal Capital KES. 1,000,000
Subscribed Capital KES. 1,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Cherilath
Pradeep Director
Mr. A. Patel Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers I pharmaceutical products and related
facilites
Imports: Asia,Middle
East
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 5,500 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 87.37 Kenyan 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 KES.)
2012
Sales 120,000,000
Bank Name: Bank Of Baroda
Branch: Kenya
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.60.80 |
|
|
1 |
Rs.91.95 |
|
Euro |
1 |
Rs.80.36 |
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 |
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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 |
|
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.