MIRA INFORM REPORT

 

 

Report No. :

302540

Report Date :

13.01.2015

 

IDENTIFICATION DETAILS

 

Name :

ZENUFA LABORATORIES SPRL

 

 

Registered Office :

No. 3 Avenue Des Entrepots, Kingabwa, Kinshasa, Democratic

 

 

Country :

Congo

 

 

Date of Incorporation :

14.06.1992

 

 

Com. Reg. No.:

KIN 44524

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Manufacture and Distribution of Pharmaceutical Products

 

 

No. of Employee :

100

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No complaints

 

 

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)

Congo

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CONGO ECONOMIC OVERVIEW

 

The economy of the Democratic Republic of the Congo - a nation endowed with vast natural resource wealth - is slowly recovering after decades of decline. Systemic corruption since independence in 1960, combined with country-wide instability and conflict that began in the mid-90s has dramatically reduced national output and government revenue and increased external debt. With the installation of a transitional government in 2003 after peace accords, economic conditions slowly began to improve as the transitional government reopened relations with international financial institutions and international donors, and President KABILA began implementing reforms. Progress has been slow to reach the interior of the country although clear changes are evident in Kinshasa and Lubumbashi. An uncertain legal framework, corruption, and a lack of transparency in government policy are long-term problems for the mining sector and for the economy as a whole. Much economic activity still occurs in the informal sector and is not reflected in GDP data. Renewed activity in the mining sector, the source of most export income, has boosted Kinshasa's fiscal position and GDP growth in recent years. The global recession cut economic growth in 2009 to less than half its 2008 level, but growth returned to around 7% per year in 2010-12. The DRC signed a Poverty Reduction and Growth Facility with the IMF in 2009 and received $12 billion in multilateral and bilateral debt relief in 2010, but the IMF at the end of 2012 suspended the last three payments under the loan facility - worth $240 million - because of concerns about the lack of transparency in mining contracts. In 2012, the DRC updated its business laws by adhering to OHADA, the Organization for the Harmonization of Business Law in Africa. The country marked its tenth consecutive year of positive economic expansion in 2012.

 

Source : CIA

Company name and address

 

Registered Name:

ZENUFA LABORATORIES SPRL

Requested Name:

ZENUFA LABORATORIES SPRL

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

No. 3 Avenue Des Entrepots, Kingabwa, Kinshasa, Democratic Republic of Congo

Postal Address:

BP 15110

 

Kinshasa,

Country:

Democratic Republic of Congo

Phone:

243-8844567/8843190/8845671/816665865/6/ 818845671/819999019/819938997/816876933

Fax:

243-8821210

Email:

info@zenufa.com/naren@zenufa.com/vishal@zenufa.com/satnam@zenufa.com/prem@zenufa.com/manojk@zenufa.com/saleskin@zenufa.com

Website:

www.zenufa.com

 

 

LEGAL

 

 

Legal Form:

Limited Corporation 

Date Incorporated:

14-June-1992

Reg. Number:

KIN 44524

Nominal Capital

CDF. 100,000,000

Subscribed Capital

CDF. 100,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Naren Visani

CEO

 

Mr. Satnam Singh Alag

MD

 

Mr. Premnath Karkera

Director

 

Mr. Sanjay Singh

Director

 

Mr. Mr. Shyam Visani

Director

 

Mr. Premanath Karkera

Director

 

Zenufa Group of Companies.

Holding Co.

100%

 

 

RELATED COMPANIES

 

Zenufa Group of Companies

Parent company.

None

Subsidiary company.

ZENUFA LABORATORIES (TZ) LTD,

KASIM ENTERPRISES,

ZENUFA CONGO S.A.R.L.,

AFRICAN FOODS & BEVERAGES S.P.R.L.,

VINPA EXPORTS PVT. LTD.

Affiliated company.

None

Shareholder of subject firm.

- N° 761, Avenue Moero Lubumbashi, DRC

-N° 69, Avenue P.E. Lumumba,

Ibanda, Bukavu, DRC

-N° 11, Boulevard Makiso, Kisangani, DRC

-N° 93 Boulevard National Ville Basse,

Kikwit, Kinshasa, DRC

Branches of the firm

 

 

OPERATIONS

 

Registered to operate manufacture and distribution of pharmaceutical products and related facilities

Imports:

Asia

Exports:

Neighboring countries

Trademarks:

None

Terms of sale:

Cash (50%) and 25-90 days (50%), invoices.

 

 

Main Customers:

Medical firms and organizations  

Employees:

100 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Democratic Republic of Congo

Location:

Leased premises, 100,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

 

Currency Reported:

Congo Francs (CDF.)

Approx. Ex. Rate:

1 US Dollar = 907.99 Congo Francs

Fiscal Year End:

December 31, 2014

Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in CDF.)

 

 

2014

Sales

 

12,000,000,000

 

 

BANK

 

 

Bank Name:

BIAC Bank

Branch:

Democratic Republic of Congo

Comments:

None

 

 

TRADE REFERENCES

 

 

Experiences:

Good

NOTARIAL BONDS

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

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.62.16

UK Pound

1

Rs.94.28

Euro

1

Rs.73.73

 

 

INFORMATION DETAILS

 

Analysis Done by :

SUB

 

 

Report Prepared by :

ANK

 

 

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

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

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.