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Report Date : |
30.09.2014 |
IDENTIFICATION DETAILS
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Name : |
MEDICAL STORES DEPARTMENT |
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Registered Office : |
Off Nyerere Road, Keko Mwanga, Dar Es Salaam, P.o. Box 9081, Dar-Es-Salaam |
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Country : |
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Date of Incorporation : |
01.04.1993 |
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Com. Reg. No.: |
14/978 |
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Legal Form : |
State Corporation |
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Line of Business : |
Distributors of pharmaceuticals and other
related medical products |
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No. of Employees : |
310 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Tanzania |
B2 |
B2 |
|
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 |
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Off-credit |
D |
TANZANIA - ECONOMIC OVERVIEW
Tanzania is one of the world's poorest economies in terms of
per capita income, however, it has achieved high overall growth rates based on gold
production and tourism. Tanzania has largely completed its transition to a
liberalized market economy, though the government retains a presence in sectors
such as telecommunications, banking, energy, and mining. The economy depends on
agriculture, which accounts for more than one-quarter of GDP, provides 85% of
exports, and employs about 80% of the work force. The World Bank, the IMF, and
bilateral donors have provided funds to rehabilitate Tanzania's aging economic
infrastructure, including rail and port infrastructure that are important trade
links for inland countries. Recent banking reforms have helped increase
private-sector growth and investment, and the government has increased spending
on agriculture to 7% of its budget. The financial sector in Tanzania has
expanded in recent years and foreign-owned banks account for about 48% of the
banking industry's total assets. Competition among foreign commercial banks has
resulted in significant improvements in the efficiency and quality of financial
services, though interest rates are still relatively high, reflecting high
fraud risk. All land in Tanzania is owned by the government, which can lease
land for up to 99 years. Proposed reforms to allow for land ownership,
particularly foreign land ownership, remain unpopular. Continued donor
assistance and solid macroeconomic policies supported a positive growth rate,
despite the world recession. In 2008, Tanzania received the world's largest
Millennium Challenge Compact grant, worth $698 million, and in December 2012
the Millennium Challenge Corporation selected Tanzania for a second Compact.
Dar es Salaam used fiscal stimulus and loosened monetary policy to ease the
impact of the global recession. GDP growth in 2009-13 was a respectable 6-7%
per year due to high gold prices and increased production.
|
Source
: CIA |
|
Registered Name: |
MEDICAL STORES
DEPARTMENT |
|
Requested Name: |
MEDICAL STORES DEPARTMENT |
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Other Names: |
None |
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Physical Address: |
Off Nyerere Road, Keko
Mwanga, Dar Es Salaam |
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Postal Address: |
P.o.
Box 9081 |
|
|
Dar-Es-Salaam, |
|
Country: |
Tanzania |
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Phone: |
255-22-2860890/7/891/7 |
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Fax: |
255-22-2865814/19 |
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Email: |
info@msd.or.tz |
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Website: |
www.msd.or.tz |
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Legal Form: |
State Corporation |
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Date Incorporated: |
1-April-1993 |
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Reg. Number: |
14/978 |
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Nominal Capital |
TZS.
1,000,000,000 |
|
|
Subscribed Capital |
TZS.
1,000,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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|
Position |
Shares |
|
Prof. Idris Mtulia |
Chairman |
|
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Hon. Dr. Faustine Ndugulile |
Director |
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Hon. Ms. Martha Mlata |
Director |
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Hon. George M. Lubeleje |
Director |
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Hon. Albert O. Ntabaliba |
Director |
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|
Mr. Gabriel Paschal Malata |
Director |
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|
Mr. Celestine M. Mgoba |
Director |
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Dr. Margareth Mhando |
Director |
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|
Dr. Ahmed Hingora |
Director |
|
|
Mrs. Monica Mwamunyange |
Director |
|
|
Government of Tanzania |
Holding
Co |
100.00% |
|
Government of Tanzania |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
Dar Es Salaam, Mtwara, Iringa, Moshi, Tabora, Mbeya, Tanga and Dodoma |
Branches of the firm |
|
Distributors of pharmaceuticals and other
related medical products |
|
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Imports: |
Italy, China, India and South Africa |
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Exports: |
Uganda and Tanzania (10%) |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
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|
|
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Main Customers: |
firms and organizations |
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Employees: |
310 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Owned premises, 5.000 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: |
Tanzania Shillings (TZS.) |
|
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Approx. Ex. Rate: |
1 US Dollar = 1641.52
Tanzania Shillings |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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||
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Financial Information not
Submitted |
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Profit and Loss
(expressed in TZS.) |
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|
|
|
2013 |
|
Sales |
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42,250,000,000 |
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Bank Name: |
Standard
Chartered Bank Tanzania Ltd, |
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Branch: |
Ohio/Sokoine Drive, P. o. Box 9011, Dar Es Salaam, Tanzania |
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Comments: |
Other Banks |
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|
(NBC (1997) LTD), Tanzania |
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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.61.43 |
|
UK Pound |
1 |
Rs.99.73 |
|
Euro |
1 |
Rs.77.93 |
INFORMATION DETAILS
|
Report Prepared
by : |
SHG |
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 |
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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 |
|
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 |
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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 |
|
<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.