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Report No. : |
320235 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
POKUPHARMA GHANA LTD |
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Registered Office : |
Near Asafo Ahmadiyya Mosque, P. o. Box 3009/64220 Kumasi |
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Country : |
Ghana |
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Date of Incorporation : |
05.03.1998 |
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Com. Reg. No.: |
CA 32859 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Suppliers of pharmaceutical products and medicinal drugs |
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No of Employees : |
25 |
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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Ghana |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
GHANA ECONOMIC OVERVIEW
Ghana's economy was strengthened by a quarter century of relatively sound management, a competitive business environment, and sustained reductions in poverty levels, but in recent years has suffered the consequences of loose fiscal policy, high budget and current account deficits, and a depreciating currency. Ghana has a market-based economy with relatively few policy barriers to trade and investment in comparison with other countries in the region. Ghana is well-endowed with natural resources. Agriculture accounts for nearly one-quarter of GDP and employs more than half of the workforce, mainly small landholders. The services sector accounts for about half of GDP. Gold and cocoa exports, and individual remittances, are major sources of foreign exchange. Expansion of Ghana’s oil industry is expected to boost economic growth. Production at Jubilee, Ghana's offshore oil field, began in mid-December 2010 and is expected to double Ghana’s oil output between 2014 and 2017. The administration faces dissent from a population that is unhappy with the high cost of living and perceives that the gains from oil are going to the politically corrupt. A new IMF assistance program, expected to start in 2015, will guide the government’s economic policies and help reduce the fiscal deficit by cutting subsidies, reducing the bloated public sector wage bill, and strengthening revenue administration, but related austerity measures will be unwelcomed by the public.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
POKUPHARMA GHANA
LTD |
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Requested Name: |
POKUPHARMA GHANA LTD |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Near
Asafo Ahmadiyya Mosque |
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Postal Address: |
P.
o. Box 3009/64220 |
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Kumasi, |
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Country: |
Ghana |
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Phone: |
233-322064222/4/5/33135/81597 |
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Fax: |
233-322064221/81596 |
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Email: |
kwame@pokupharmagh.com/ kwaku@pokupharmagh.com/ amina@pokupharmagh.com |
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Website: |
www.pokupharmagh.com |
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CREDIT
OPINION
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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. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
05-March-1998 |
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Reg. Number: |
CA 32859 |
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Nominal Capital |
GHS.
100,000 |
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Subscribed Capital |
GHS.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Dr. Kwame Opoku |
CEO |
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Mr. Kwaku Opoku – Adjei |
Director |
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Mrs. Amina Ahmed |
Director |
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Mr. Stephen Danso-Mensah |
GM |
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Mr. Abass Rabbi |
Accounts |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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MARINA CHEMIST LIMITED |
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 as
suppliers of pharmaceutical products and medicinal drugs |
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Imports: |
Asia, South Africa |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (70%) and 25-90 days (30%), invoices. |
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Main Customers: |
Local agencies, medical stores, firms and organizations |
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Employees: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ghana |
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Location: |
Leased premises, 10,000 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: |
Ghanaian Cedi (GHS.) |
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Approx. Ex. Rate: |
1 US Dollar = 3.87
Ghanaian Cedi |
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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 GHS.) |
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2013 |
2014 |
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Sales |
15,300,000 |
26,200,000 |
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BANK
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Bank Name: |
Zenith
Bank |
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Branch: |
Ghana |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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_______________________________________________________________________ |
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NOTARIAL BONDS |
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. 63.51 |
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1 |
Rs. 95.95 |
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Euro |
1 |
Rs. 70.53 |
INFORMATION DETAILS
|
Analysis Done by
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DIV |
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Report Prepared by
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DPT |
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.