MIRA INFORM REPORT
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Report No. : |
319963 |
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Report Date : |
29.04.2015 |
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 Employee : |
80 Employees |
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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Kenya |
B1 |
B1 |
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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 |
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 important to Kenya's economic
growth and development. Unemployment is high at around 40%. The country has
chronic budget deficits and is in the process of devolving state revenues and
responsibilities to the counties. Inflationary pressures and sharp currency
depreciation peaked in early 2012 but have since abated following low global
food and fuel prices and monetary interventions by the Central Bank. Recent
terrorism in Kenya and the surrounding region threatens Kenya's important
tourism industry. Kenya issued its first sovereign bond offering in mid-2014,
generating $2 billion at 6% interest; the funds are slated to be used for
infrastructure projects. Nairobi has contracted with a Chinese company to begin
construction of a new standard gauge railway, but the project allegedly has
been beset by corruption and fraud.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
SURGILINKS LTD |
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Requested Name: |
SURGILINKS LTD |
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Other Names: |
SURGILINKS LIMITED |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
L.R.
No. 93/1550,Surgilinks House,Opposite St. James Hospital,Mombasa Road,Nairobi |
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Postal Address: |
P.
o. Box 14461-00800, |
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Nairobi, |
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Country: |
Kenya |
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Phone: |
254-20-651465/6/7/8058245/2379137/8091278/ 8058243 |
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Cell: |
254-715685100/7222049529 |
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Fax: |
254-20-651469 |
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Email: |
surgimail@surgilinksltd.com/ info@surgilinksltd.com |
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Website: |
www.surgilinksltd.com |
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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. We recommend Secured
Credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
11-Aug-1994 |
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Reg. Number: |
60547 |
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Nominal Capital |
KES.
10,000,000 Divided into Shares 100,000 each Value KES.
100 |
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Subscribed Capital |
KES.
10,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Deepak Jitendra Kothari |
CEO |
81,000 |
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Mr. Hiren Kisthor Mehta |
Director |
12,000 |
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Mrs. Bina Deepak Kothari |
Director |
7,000 |
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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
importers and distributors of pharmaceutical products, medicinal facilities such
as surgical instruments, equipment and
medical disposal |
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Imports: |
Asia, South Africa, USA, Egypt |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Medical firms, educational institutions and organizations such
as KEMSA |
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Employees: |
80 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Owned premises, 20,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
ASHVIN RANPARA & COMPANY |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Kenya Shillings (KES.) |
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Approx. Ex. Rate: |
1 US Dollar = 86.52 Kenya
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 KES.) |
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2014 |
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Sales |
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385,000,000 |
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BANK
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Bank Name: |
KENYA
COMMERCIAL BANK LIMITED |
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Branch: |
Kenya |
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Comments: |
Other Banks |
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GIRO COMMERCIAL BANK LIMITED |
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BANK OF INDIA |
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SOUTHERN CREDIT BANKING CORPORATION LIMITED |
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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. Subject company’s
commercial morality is questionable. |
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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.63.33 |
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1 |
Rs.96.52 |
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Euro |
1 |
Rs.68.93 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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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 |
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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.