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Report No. : |
353521 |
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Report Date : |
09.12.2015 |
IDENTIFICATION DETAILS
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Name : |
UNION OF PHARMACISTS BENIN (UBPHAR SA) |
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Registered Office : |
C/646, Gbediga, Cotonou, 01 BP 3629, Cotonou |
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Country : |
Benin |
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Date of Incorporation : |
09.09.1990 |
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Com. Reg. No.: |
15566-B |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Import, storage and
distribution of pharmaceutical and parapharmaceutical products |
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No. of Employees : |
93 Employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Good |
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Payment Behaviour : |
Regular |
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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, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Benin |
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 |
BENIN - ECONOMIC OVERVIEW
The economy of Benin remains underdeveloped and dependent on
subsistence agriculture, cotton production, and regional trade. Growth in real
output had averaged almost 4% before the global recession and it has exceeded
that level in 2013-14. Inflation has subsided over the past several years. In
order to raise growth, Benin plans to attract more foreign investment, place
more emphasis on tourism, facilitate the development of new food processing
systems and agricultural products, and encourage new information and
communication technology. Specific projects to improve the business climate by
reforms to the land tenure system, the commercial justice system, and the
financial sector were included in Benin's $307 million Millennium Challenge
Account grant signed in February 2006. The 2001 privatization policy continues
in telecommunications, water, electricity, and agriculture. An insufficient
electrical supply continues to hamper Benin's economic growth though the
government recently has taken steps to increase domestic power production.
Private foreign direct investment is small, and foreign aid accounts for the
majority of investment in infrastructure projects. Cotton, a key export,
suffered from flooding in 2010-11, but high prices supported export earnings. Benin
has appealed for international assistance to mitigate piracy against commercial
shipping in its territory. In 2012, Benin became eligible for a second Compact
under the Millennium Challenge Corporation, which is expected to be signed in
2015.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
UNION OF
PHARMACISTS BENIN (UBPHAR SA) |
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Requested Name: |
UB PHARSA |
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Trade Names: |
UBPHAR SA |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
C/646,
Gbediga, Cotonou, |
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Postal Address: |
01
BP 3629, |
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Cotonou, |
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Country: |
Republic
of Benin |
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Phone: |
229-21303050/6894 |
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Cell: |
229-95960950 |
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Fax: |
229-21303480 |
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Email: |
courrierubphar@.com |
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Website: |
www.ubphar.com |
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LEGAL
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Legal Form: |
Societe Anonyme |
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Date Incorporated: |
09-Sept-1990 |
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Started: |
02-Jan-1992 |
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Reg. Number: |
15566-B |
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Nominal Capital |
CFA.
804,540,000 |
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Subscribed Capital |
CFA.
804,540,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Courrier Ubphar |
Manager |
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Prisca Hazoume |
Sales |
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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 import,
storage and distribution of pharmaceutical and parapharmaceutical products |
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Imports: |
Asia |
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Exports: |
Neighboring countries |
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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: |
Local agencies, medical firms and organizations |
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Employees: |
93 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Benin |
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Location: |
Leased premises, 5,000 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: |
West African XOF (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 606.86 West
African XOF |
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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 CFA.) |
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2014 |
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Sales |
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1,250,000,000 |
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BANK
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Bank Name: |
ECOBANK |
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Branch: |
Benin |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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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.66.80 |
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1 |
Rs.100.49 |
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Euro |
1 |
Rs.72.52 |
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CFA |
1 |
Rs.0.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
NIT |
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.