MIRA INFORM REPORT

 

 

Report Date :

09.05.2013

 

IDENTIFICATION DETAILS

 

Name :

DEMX PHARMA SARL DEMX FORMULATIONS

 

 

Registered Office :

Fos Building, Plot 1101, Rue de H. Biogny, Be, B/D Apartment, Lome, Togo (West Africa)

 

 

Country :

Togo

 

 

Date of Incorporation :

12.04.2010

 

 

Legal Form :

Société Anonyme Responsabilité Limitée.

 

 

Line of Business :

Dealers in pharmaceutical products and related facilities

 

 

No. of Employees :

15

 

RATING & COMMENTS

 

MIRA’s Rating :

Ca

 

RATING

STATUS

PROPOSED CREDIT LINE

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

 

Status :

Moderate 

Payment Behaviour :

Unknown

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)

Togo

c2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

togo ECONOMIC OVERVIEW

 

This small, sub-Saharan economy suffers from anemic economic growth and depends heavily on both commercial and subsistence agriculture, which provides employment for a significant share of the labor force. Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton generate about 40% of export earnings with cotton being the most important cash crop. Togo is among the world's largest producers of phosphate and Togo seeks to develop its carbonate phosphate reserves. The government's decade-long effort, supported by the World Bank and the IMF, to implement economic reform measures, encourage foreign investment, and bring revenues in line with expenditures has moved slowly. Progress depends on follow through on privatization, increased openness in government financial operations, progress toward legislative elections, and continued support from foreign donors. Foreign direct investment inflows have slowed over recent years. Togo completed its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief completion point in 2010 at which 95% of the country's debt was forgiven. Togo continues to work with the IMF on structural reforms.

 

Source : CIA

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

DEMX PHARMA SARL/DEMX FORMULATIONS

Trade Names:

DEMX FORMULATIONS

Principal Address:

Fos Building, Plot 1101, Rue de H. Biogny, Be, B/D Apartment, Lome, Togo (West Africa)

Telephone:

+228-90373311

Fax:

+228-90373311

Email:

None

Internet:

None

Established:

12/04/2010

Registration:

Togo (West Africa)

Legal Form:

Société Anonyme Responsabilité Limitée.

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

15

 

 

 

Office & Factories

 

Head offices

Fos Building, Plot 1101, Rue de H. Biogny, Be, B/D Apartment, Lome, Togo (West Africa)

Branches

None

 

DIRECTORS/MANAGEMENT

 

Management/ Directors    

 

President/ CEO (1)

 

Name

Dr./Mrs. I. Emmanuel

Active in daily business:

Active

Current Title:

Managing Director

Country of residence

Togo

Remarks

Top Decision Maker

 

Þ  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.

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Company Profile:

 

Nominal Capital

CFA. 1,000,000

Paid in Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Shareholders

 

Name

Position

   Amount  

       Ratio

Dr./Mrs. I. Emmanuel

MD

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

Declined

Selling terms

80% in cash, 20% on credit

Recent Sales

CFA. 200,000,000  (2012 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

40.0%

Domestic Market Share

20.0%

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

 

ADDITIONAL INFORMATION

 

Business Activities

Dealers in pharmaceutical products and related facilties

Suppliers

Various suppliers

Customers

Chemists, stores, outlets etc

Business Premises

500 Sft

Type of occupation                                              

Leased

Location 

The subject is located close to a major road network                      

Premises used as                                                

Offices, WorkShop

 

Banking relationship

 

Main Banks

Ecobank Togo

 

Credit Check of Subject, President & CEO (as of report date)

Payment Morale:

In the documents at our disposal nothing adverse has been shown so far.

CREDIT RATING:

Financial situation could not be ascertained.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.16

UK Pound

1

Rs.83.88

Euro

1

Rs.70.99

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.