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Report No. : |
313397 |
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Report Date : |
24.03.2015 |
IDENTIFICATION DETAILS
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Name : |
PHILLIPS
PHARMACEUTICALS(ZAMBIA) LIMITED |
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Registered Office : |
Plot No. 7236, Njolwe Road,
Light Industrial Area, P. O. Box 36017, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
06.12.2004 |
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Com. Reg. No.: |
57207 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Engaged as dealers in
Pharmaceutical Products and Medicinal Drugs [NOTE: We tried to confirm / obtain the detailed activity but the same is not available from any sources.] |
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No of Employees : |
200 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Zambia |
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 |
Zambia ECONOMIC OVERVIEW
Zambia's economy has
experienced strong growth in recent years, with real GDP growth in 2005-13 more
than 6% per year. Privatization of government-owned copper mines in the 1990s relieved
the government from covering mammoth losses generated by the industry and
greatly increased copper mining output and profitability to spur economic
growth. Copper output has increased steadily since 2004, due to higher copper
prices and foreign investment. Zambia's dependency on copper makes it
vulnerable to depressed commodity prices, but record high copper prices and a
bumper maize crop in 2010 helped Zambia rebound quickly from the world economic
slowdown that began in 2008. Zambia has made some strides to improve the ease
of doing business. Regulatory changes by the current government in 2012-2013
included Statutory Instruments (SI) Number 33 (mandating use of the kwacha for
domestic transactions) and SI Number 55 (monitoring foreign exchange transactions).
Along with problems of fiscal management and weakening global copper prices,
these SI's were perceived as undermining confidence in Zambia's economy and
currency, leading to sharp depreciation of the kwacha in March 2014. In
response, the Minister of Finance revoked SI 33 and 55 in late March 2014.
Despite a strong economy, poverty remains a significant problem in Zambia, made
worse by a high birth rate, relatively high HIV/AIDS burden, and by market
distorting agricultural policies.
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Source
: CIA |
Registered Name: PHILLIPS PHARMACEUTICALS(ZAMBIA) LIMITED
Requested Name: PHILLIPS
PHARMACEUTICALS(ZAMBIA) LIMITED
Other Names: None
Physical Address: Plot no. 7236,njolwe road, Light
Industrial Area
Postal Address: P. o. Box 36017
Lusaka,
Country: Zambia
Phone: 260-211-286037
Fax: 260-211-286037
Email: None
Website: None
Financial Index as of December 2014 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 06-Dec-2004
Reg. Number: 57207
Nominal Capital ZMW. 5,000
Subscribed Capital ZMW. 5,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Mohmed Ahmed
Seedat MD 1000000
Mr. Sadik Ahmed
Seedat Director 1500000
Mr. Mukesh
Sobhagyachand Mehta Director 1000000
Mr. Shailesh
Ramniklal Mehta Director 1500000
Mr. Balasundaram
Krishnamurthy GM
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 pharmaceutical products and
medicinal drugs
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, medical stores, outlets etc
Employees: 200
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Zambia
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Zambian Kwacha (ZMW.)
Approx. Ex. Rate: 1 US Dollar = 7.41 Zambian Kwacha
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 ZMW.)
2014
Sales 6,500,000
Bank Name: Stanbic Bank
Branch: Zambia
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.62.29 |
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UK Pound |
1 |
Rs.93.02 |
|
Euro |
1 |
Rs.67.36 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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 |
-- |
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.