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Report No. : |
310060 |
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Report Date : |
07.03.2015 |
IDENTIFICATION DETAILS
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Name : |
DANADAMS
PHARMACEUTICALS INDUSTRY LIMITED |
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Registered Office : |
67,
Nungua Link, Spintex Road Baatsona, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
08.06.2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Engaged as dealers in medical and pharmaceutical products as well as Related Facilities |
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No of Employees : |
250 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Ghana |
B2 |
B2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Ghana ECONOMIC OVERVIEW
Ghana's economy has been strengthened
by a quarter century of relatively sound management, a competitive business
environment, and sustained reductions in poverty levels. In late 2010, Ghana
was recategorized as a lower middle-income country. Ghana is well-endowed with
natural resources and agriculture accounts for roughly one-quarter of GDP and
employs more than half of the workforce, mainly small landholders. The services
sector accounts for 50% of GDP. Gold and cocoa production and individual
remittances are major sources of foreign exchange. Oil production at Ghana's
offshore Jubilee field began in mid-December 2010,and is producing close to
target levels. Additional oil projects are being developed and are expected to
come on line in a few years. Estimated oil reserves have jumped to almost 700
million barrels and Ghana’s growing oil industry is expected to boost economic
growth as the country faces the consequences of two years of loose fiscal
policy, high budget and current account deficits, and a depreciating currency.
President MAHAMA faces challenges in managing a population that is unhappy with
living standards and that perceives they are not reaping the benefits of oil
production because of political corruption.
|
Source
: CIA |
Registered Name: DANADAMS PHARMACEUTICALS INDUSTRY LIMITED
Requested Name: DANADAMS
PHARMACEUTICALS INDUSTRY LIMITED
Other Names: None
Physical Address: 67, Nungua Link, Spintex Road
Baatsona, Accra,
Postal Address: P. o. Box TS 73, Teshie,
Accra,
Country: Ghana
Phone: 233-302811672/302811673
Fax: 233-302812014
Email: danadamsgh@gmail.com
Website: www.danadamsgh.com
Financial
Index as of December 2014 shows subject firm with a medium risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 08-June-2005
Reg. Number: Ghana
Nominal Capital GHS. 1,000,000
Subscribed Capital GHS. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position
Emmanuel Mahama
Baba Chairman
Dr. Yaw Adu-Gyamfi CEO
Prince Yamoah COO
William C. Acquah CSMO
Prof. Kwame
Frimpong Director
Mohammed Ibrahim
Awal Director
Ike Onyechi Director
Edward Dua Agyeman Director
Dennis Kwadjo
Young Vormawor Director
Prof. Mahama
Duwiejua Director
Dr. Deogratias
Barakamfitiye Director
Dr. Yaw Adu-Agyei
Gyamfi Director
Adwoa Serwaah
Nutsugah GM
Harish Poojary Manager
Daniel Yao Agala Manager
Isaac Fianko Bekoe Manager
Esther J. Tseko Manager
Ali Nartey Manager
Susheel Sanjeev
Chauhan Accounts
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in medical and pharmaceutical products
as well as related facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, firms and organizations
Employees: 250
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Owned
premises, 100,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 3.53 Ghanaian Cedi
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 GHS.)
2014
Sales 22,200,000,000
Bank Name: First Atlantic Merchant Bank
Ghana (FAMBG)
Branch: Ghana
Comments: None
Experiences: Good
None
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.62.20 |
|
UK Pound |
1 |
Rs.94.71 |
|
Euro |
1 |
Rs.68.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
|
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Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.