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Report Date : |
23.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
ALIVE PHARMACY |
|
|
|
|
Registered Office : |
Zeera Group 31 Samora Machel
Street Asylum Down |
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Country : |
Ghana |
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Date of Incorporation : |
15.07.1999 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers in pharmaceutical products and related healthcare facilities |
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|
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No of Employees : |
30 |
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 |
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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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Ghana |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Ghana ECONOMIC OVERVIEW
Ghana's economy has been strengthened by a quarter century of
relatively sound management, a competitive business environment, and sustained reductions
in poverty levels. In late 2010, Ghana was recategorized as a lower
middle-income country. Ghana is well-endowed with natural resources and
agriculture accounts for roughly one-quarter of GDP and employs more than half
of the workforce, mainly small landholders. The services sector accounts for
50% of GDP. Gold and cocoa production and individual remittances are major
sources of foreign exchange. Oil production at Ghana's offshore Jubilee field
began in mid-December 2010,and is producing close to target levels. Additional
oil projects are being developed and are expected to come on line in a few
years. Estimated oil reserves have jumped to almost 700 million barrels and
Ghana’s growing oil industry is expected to boost economic growth as the country
faces the consequences of two years of loose fiscal policy, high budget and
current account deficits, and a depreciating currency. President MAHAMA faces
challenges in managing a population that is unhappy with living standards and
that perceives they are not reaping the benefits of oil production because of
political corruption.
|
Source
: CIA |
Registered Name: ALIVE PHARMACY
Requested Name: ALIVE
PHARMACY
Other Names: None
Physical Address: Hansonic, Dansoman Road,
Opposite FC Beauty Klinik
Registered Address: Zeera Group 31 Samora Machel Street Asylum Down
Postal Address: P.o. Box 23321
Accra
Country: Ghana
Phone: 233-544347186/576097216/7124809
Fax: 233-544347009/7124809
Email: alivepharmacygh@gmail.com / alivepharma1@gmail.com
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 15-July-1999
Started: 2008
Reg. Number: Ghana
Nominal Capital GHS. 10,000
Subscribed Capital GHS. 10,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Alhaji Seidu
Agongo CEO
Mr. Razak Seini Director
Mr. Ekow Morrison Director
Mr. Kingsley
Agbeko Manager
Zeera Group Of
Companies Holding Co. 100%
Zeera Group Of
Companies Parent company.
None Subsidiary company.
SARAGO LIMITED,
JUST ME FABRICS,
TRUST FINANCIAL SERVICES,
UPS CONSTRUCTION,
SEFA MICRO FINANCE,
ZEERA LOGISTICS,
ZEERA REAL ESTATES,
FUN VIDEO,
ALU AFRICA. Affiliated companies.
None Shareholder of subject firm.
Near Lebene
Junction, Ashaiman, Tema, Ghana Branches of the firm
Registered to operate as dealers in pharmaceutical products and related
healthcare facilities
Imports: Asia,
Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Local
agencies, medical stores, outlets etc
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 3.10 Ghanaian Cedi
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in GHS.)
2013
Sales 15,000,000
Bank Name: BARCLAYS BANK
Branch: Ghana
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.60.28 |
|
|
1 |
Rs.102.77 |
|
Euro |
1 |
Rs.82.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
|
|
|
|
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.