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Report Date : |
16.10.2013 |
IDENTIFICATION DETAILS
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Name : |
ZENIFA LABORATORIES SPRL |
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Registered Office : |
No. 3 Avenue Des Entrepots, Kingabwa, Kinshasa P. o. Box 15110 Kinshasa, Democratic
Republic of Congo |
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Country : |
Congo |
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Financials (as on) : |
2012 |
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Date of Incorporation : |
14.06.1992 |
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Com. Reg. No.: |
44524 KIN |
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Legal Form : |
Societe Privee Responsibilitee Limitee |
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Line of Business : |
Manufacturers and distributors of pharmaceutical products and related facilities |
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No. of Employees : |
100 |
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) |
|
Congo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CONGO - ECONOMIC OVERVIEW
The economy is a mixture of subsistence hunting and
agriculture, an industrial sector based largely on oil and support services,
and government spending. Oil has supplanted forestry as the mainstay of the
economy, providing a major share of government revenues and exports. Natural
gas is increasingly being converted to electricity rather than being flared,
greatly improving energy prospects. New mining projects, particularly iron ore,
that may enter production as early as late 2013 may add as much as $1 billion
to annual government revenue. Economic reform efforts have been undertaken with
the support of international organizations, notably the World Bank and the IMF,
including recently concluded Article IV consultations. Denis SASSOU-Nguesso,
who returned to power when the war ended in October 1997, publicly expressed
interest in moving forward on economic reforms and privatization and in
renewing cooperation with international financial institutions. Economic
progress was badly hurt by slumping oil prices and the resumption of armed
conflict in December 1998, which worsened the republic's budget deficit. The
current administration faces difficult economic challenges of stimulating
recovery and reducing poverty. The drop in oil prices during the global crisis
reduced oil revenue by about 30%, but the subsequent recovery of oil prices
boosted the economy's GDP from 2009-12. In March 2006, the World Bank and the
International Monetary Fund (IMF) approved Heavily Indebted Poor Countries
(HIPC) treatment for Congo, which received $1.9 billion in debt relief under
the program in 2010. Congo also restructured old defaulted London Club debt in
2007, which effectively cancelled 80% of its private debt. Contracts with China
have increased Congo's publicly held debt. Officially the country became a net
external creditor as of 2011, with external debt representing less than 22% of
GDP and debt servicing less than 3% of government revenue
Source
: CIA
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Registered Name: |
ZENUFA LABORATORIES
SPRL |
|
Requested Name: |
ZENIFA LABORATORIES SPRL |
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Other Names: |
None |
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Physical Address: |
No. 3 Avenue Des Entrepots, Kingabwa, Kinshasa |
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Postal Address: |
P. o. Box 15110 |
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Kinshasa, |
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Country: |
Democratic Republic of Congo |
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Phone: |
243-8844567/8843190/8845671 |
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Fax: |
243-8821210 |
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Email: |
info@zenufa.com/naren@zenufa.com |
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Website: |
www.zenufa.com |
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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. We recommend Credit of USD 100,000 on 90 days. |
|
Legal Form: |
Societe Privee Responsibilitee Limitee |
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Date Incorporated: |
14-June-1992 |
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Reg. Number: |
44524 KIN |
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Nominal Capital |
CDF. 100,000,000 |
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Subscribed Capital |
CDF. 100,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Naren Varsani |
CEO |
40% |
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Mr. Satnam Singh Alag |
MD |
40% |
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Mr. Premnath Karkera |
Director |
20% |
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Mr. Sanjay Singh |
Director |
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|
None |
Parent company. |
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None |
Subsidiary company. |
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ZENUFA LABORATORIES (TZ) LTD |
Affiliated company. |
|
None |
Shareholder of subject firm. |
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None |
Branches
of the firm |
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Registered to operate as manufacturers and distributors of pharmaceutical products and related facilites |
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Imports: |
Asia, UK |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Local agencies, firms and organizations |
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Employees: |
100 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Democratic Republic of Congo |
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Location: |
Owned premises, 10,000 square feet, |
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Auditors: |
Information not available. |
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Insurance Brokers: |
Information not available. |
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Currency Reported: |
DRCongo Franc (CDF.) |
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Approx. Ex. Rate: |
1 US Dollar = 555 DRCongo Franc |
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Fiscal Year End: |
December 31, 2012 |
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Inflation: |
According to information given by independent sources, the
inflation at December 31st, 2012 was of 13%. |
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Financial
Information not Submitted |
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Profit and Loss (expressed in CFA.) |
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2012 |
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Sales |
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3,520,000,000 |
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Bank Name: |
BIAC Bank |
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Branch: |
Democratic Republic of Congo |
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Comments: |
None |
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Experiences: |
Good |
None
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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.61.69 |
|
|
1 |
Rs.98.59 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
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.