MIRA INFORM REPORT
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Report No. : |
316757 |
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Report Date : |
13.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MORAF PHARMACEUTICALS LIMITED |
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Registered Office : |
Upanga, Lugalo Street, Dar Es Salaam, P. o. Box 21323 Dar Es Salaam, |
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Country : |
Tanzania |
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Date of Incorporation : |
13.11.2013 |
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Com. Reg. No.: |
103938 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers in
pharmaceuticals and surgical equipments |
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No. of Employee : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Tanzania |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 |
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.
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Source
: CIA |
Company
NAME
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Registered Name: |
MORAF
PHARMACEUTICALS LIMITED |
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Requested Name: |
MORAF PHARMACEUTICALS |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Upanga,
Lugalo Street, Dar Es Salaam, |
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Postal Address: |
P.
o. Box 21323 |
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Dar
Es Salaam, |
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Country: |
Tanzania |
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Phone: |
255-22-2185167/2182099/2180509 |
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Cell: |
255-713251205/713586864 |
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Fax: |
255-22-2182099/2180509 |
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Email: |
morafdar@raha.com/tropi@raha.com |
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Website: |
None |
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CREDIT
OPINION
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Financial Index as of December
2014 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
13-Nov-2013 |
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Reg. Number: |
103938 |
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Nominal Capital |
TZS.
1,000,000 |
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Subscribed Capital |
TZS.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Ashraf H. Walli |
Director |
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Mr. Alihussein Pardhan |
Director |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
dealers in pharmaceuticals and surgical equipments |
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (80%) and 25-90 days (20%), invoices. |
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Main Customers: |
Local agencies, chemists, pharmacies |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Rented premises, 2,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 1855.04
Tanzanian Shillings |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in TZS.) |
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2014 |
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Sales |
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520,000,000 |
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BANK
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Bank Name: |
CRBD |
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Branch: |
Tanzania |
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Comments: |
None |
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COMMENTS
/ ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and confirmed
the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.37 |
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1 |
Rs.91.60 |
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Euro |
1 |
Rs.66.49 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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.