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Report Date : |
18.03.2014 |
IDENTIFICATION DETAILS
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Name : |
SURGILINKS LTD |
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Registered Office : |
L.R. No.
93/1550,Surgilinks House, Opposite St. James Hospital, Mombasa Road, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
11.08.1994 |
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Com. Reg. No.: |
60547 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
importers and distributors of pharmaceutical products, medicinal facilities such as surgical instruments, equipment and medical disposal |
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No. of Employees |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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 |
|
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: SURGILINKS LTD
Requested Name: SURGILINKS
LTD
Other Names: None
Physical Address: L.R. No. 93/1550,Surgilinks
House, Opposite St. James
Hospital,
Mombasa Road, Nairobi
Postal Address: P. o. Box 14461-00800,
Nairobi,
Country: Kenya
Phone: 254-20-651465/6/7
Fax: 254-20-651469
Email: surgimail@surgilinksltd.com
Website: None
Financial
Index as of December 2013 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: 11-Aug-1994
Reg. Number: 60547
Nominal Capital KES. 10,000,000 Divided into Shares 100,000 each Value KES.
100
Subscribed Capital KES. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Deepak
Jitendra Kothari CEO 81,000
Mr. Hiren Kisthor
Mehta Director 12,000
Mrs. Bina Deepak
Kothari Director 7,000
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as importers and distributors of pharmaceutical
products, medicinal facilities such as
surgical instruments, equipment and medical disposal
Imports: Asia,
South Africa, USA, Egypt
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Medical
firms, educational institutions and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 20,000 square feet,
Auditors: ASHVIN
RANPARA & COMPANY
Insurance
Brokers: Information not available.
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 86.52 Kenya Shillings
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 KES.)
2013
Sales 360,424,000
Bank Name: KENYA COMMERCIAL BANK LIMITED
Branch: Kenya
Comments: Other Banks
GIRO
COMMERCIAL BANK LIMITED
BANK
OF INDIA
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.61.52 |
|
|
1 |
Rs.102.22 |
|
Euro |
1 |
Rs.85.23 |
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 |
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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 |
-- |
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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.