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Report No. : |
301951 |
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Report Date : |
09.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CENTRAL DE MEDICAMENTOS E ARTIGOS MEDICOS |
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Registered Office : |
Av. Agostinho Neto Savador Allede HCM, P. o. Box 286 Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
1992 |
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Legal Form : |
State Corporation |
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Line of Business : |
Subject is engaged in Administration, coordination, and execution of procurement, storage,
and distribution of medicines, medical supplies, reagents and chemicals,
pharmaceuticals, dressings |
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No. of Employees : |
300 |
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 : |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Mozambique |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
MOZAMBIQUE - ECONOMIC
OVERVIEW
At independence in 1975,
Mozambique was one of the world's poorest countries. Socialist mismanagement
and a brutal civil war from 1977-92 exacerbated the situation. In 1987, the
government embarked on a series of macroeconomic reforms designed to stabilize
the economy. These steps, combined with donor assistance and with political
stability since the multi-party elections in 1994, have led to dramatic
improvements in the country's growth rate. Fiscal reforms, including the introduction
of a value-added tax and reform of the customs service, have improved the
government's revenue collection abilities. In spite of these gains, Mozambique
remained dependent upon foreign assistance for 40% of its 2012 annual budget
and over half the population remained below the poverty line. Subsistence
agriculture continues to employ the vast majority of the country's work force
and smallholder agricultural productivity and productivity growth is weak. A
substantial trade imbalance persists although aluminum production from the
Mozal smelter has significantly boosted export earnings in recent years. In
2012, The Mozambican government took over Portugal's last remaining share in
the Cahora Bassa Hydroelectricity Company (HCB), a signficant contributor to
the Southern African Power Pool. The government has plans to expand the Cahora
Bassa Dam and build additional dams to increase its electricity exports and
fulfill the needs of its burgeoning domestic industries. Mozambique's once
substantial foreign debt has been reduced through forgiveness and rescheduling
under the IMF's Heavily Indebted Poor Countries (HIPC) and Enhanced HIPC
initiatives, and is now at a manageable level. In July 2007, the US
government's Millennium Challenge Corporation (MCC) signed a $506.9 million
Compact with Mozambique. Compact projects will end in September 2013 and are
focusing on improving sanitation, roads, agriculture, and the business
regulation environment in an effort to spur economic growth in the four
northern provinces of the country. Citizens rioted in September 2010, after
fuel, water, electricity, and bread price increases were announced. In an
attempt to lessen the negative impact on people, the government implemented
subsidies, decreased taxes and tariffs, and instituted other fiscal measures.
Mozambique grew at an average annual rate of 6%-8% in the decade up to 2013,
one of Africa's strongest performances. Mozambique's ability to attract large
investment projects in natural resources is expected to fuel continued high
growth in coming years. Revenues from these vast resources, including natural
gas, coal, titanium and hydroelectric capacity, could overtake donor assistance
within five years
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Source
: CIA |
|
Registered Name: |
CENTRAL DE
MEDICAMENTOS E ARTIGOS MEDICOS |
|
Requested Name: |
CENTRAL DE MEDICAMENTOS E ARTIGOS MEDICOS |
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Other Names: |
CMAM |
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Physical Address: |
Av. Agostinho Neto Savador Allede HCM, |
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Postal Address: |
P. o. Box 286 |
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|
Maputo, |
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Country: |
Mozambique |
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Phone: |
258-21-308735/900699 |
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Fax: |
258-21-308735/305827 |
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Email: |
acalane@cmam.gov.mz/jgrachane@cmam.gov.mz |
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Website: |
None |
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Legal Form: |
State Corporation |
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Date Incorporated: |
1992 |
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Reg. Number: |
Mozambique |
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Budget Capital |
MZN. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Hon. Alexandre Manguele |
Minister |
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|
Mr. Paulo Nhaducue |
Dep.Director |
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|
M. Dgedge P. |
Director |
|
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Government Of Mozambique(through Ministry of Health) |
Parent |
100% |
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Government Of Mozambique(through Ministry of Health) |
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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Major towns in Mozambique |
Branches of the firm |
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Administration, coordination, and execution of procurement, storage, and distribution of medicines, medical supplies, reagents and chemicals, pharmaceuticals, dressings etc |
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Imports: |
Worldwide |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
100% tenders |
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Main Customers: |
Local agencies, distrivutors, firms and organizations |
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Employees: |
300 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Mozambique |
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Location: |
Owned premises, 100,000 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: |
Mozambique Meticals (MZN.) |
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Approx. Ex. Rate: |
1 US Dollar = 30.07 Mozambique Meticals |
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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 MZN.) |
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2014 |
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Income |
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300,000,000 |
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_______________________________________________________________________ |
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Bank Name: |
Banco de Moçambique |
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Branch: |
Mozambique |
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Comments: |
Other banks |
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Banco
Internacional de Mozambique |
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Experiences: |
Good |
None
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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.62.97 |
|
|
1 |
Rs.94.97 |
|
Euro |
1 |
Rs.74.43 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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.