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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDISEL (K) LTD |
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Registered Office : |
Plot No 4953/1626 Factory
Street, Industrial Area, Thika |
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Country : |
Kenya |
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Date of Incorporation : |
28.07.1994 |
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Com. Reg. No.: |
60288 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
importer and distributor of generic and branded pharmaceuticals and also dealers in hospital furniture and equipment such as Lab diagnostics, emergency trollies & examining tables |
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No of Employees : |
75 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
|
Without Financials |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Kenya |
B1 |
B1 |
|
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 |
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, although the Kenyatta administration has prioritized infrastructure
development. International financial lenders and donors remain key to Kenya’s
economic growth and development. Unemployment is high at around 40%. The
country has experienced chronic budget deficits, inflationary pressures, and
sharp currency depreciation - but has recovered following low global food and
fuel prices. Recent terrorism in Kenya and the surrounding region threatens
Kenya’s important tourism industry. Kenya, in conjunction with neighboring Ethiopia
and South Sudan, intends to begin construction on a transport corridor and oil
pipeline into the port of Lamu in 2014.
|
Source
: CIA |
Registered Name: MEDISEL (K) LTD
Requested Name: MEDISEL
(K) LTD
Former Names: MEDICAL
ESSENTIALS LIMITED
Physical Address: Plot No 4953/1626 Factory
Street,Industrial Area, Thika
Postal Address: P. o. Box 540-01000
Thika
Country: Kenya
Phone: 254-67-22074/30378/9/-20-3569900/8033221
Fax: 254-67-22230/-20-2321699
Email: medisel@africaonline.co.ke/
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: 28-July-1994
Reg. Number: 60288
Nominal Capital KES. 5,000,000 being shares
50,000 each Value KES. 100
Subscribed Capital KES. 5,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Ajaykumar Shanabhai
Patel MD 50%
Dr. Rajendra Kumar
Mohindra Director 50%
None Parent company.
None Subsidiary company.
DAWA LIMITED,
UNICORN PHARMA (KENYA) LIMITED,
THIKA CHEMIST
(KENYA) LIMITED Affiliated company.
None Shareholder of subject firm.
In Nairobi, Kenya Branches of the firm
Registered to operate import and distribution of generic and branded
pharmaceuticals and also dealers in hospital furniture and equipment such as
Lab diagnostics, emergency trollies & examining tables
Imports: Asia,
Europe
Exports: Malawi,
Congo, Sudan, Rwanda, Uganda, Tanzania and Zambia
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Local
agencies, medical stores, outlets, firms and organizations
Employees: 75
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 6,500 square feet,
Auditors: SUNIL DAVDA & COMPANY
Insurance
Brokers: Information not available.
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 87 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.)
2012 2013
Sales 945,785,638 1,250,000,000
Bank Name: STANDARD CHARTERED BANK (KENYA)
LIMITED
Branch: P.o. Box 300-01000 Thika Branch, Kenya
Comments: Other Banks
FINA
BANK (KENYA) LIMITED
KENYA
COMMERCIAL BANK (KENYA) LIMITED
BANK
OF BARODA (KENYA) LIMITED
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.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.