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Report No. : |
340167 |
|
Report Date : |
16.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CENTRAL MEDICAL SUPPLIES PUBLIC CORPORATION (CMS) |
|
|
|
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Registered Office : |
Central Medical Building, Al Horreya Street, off Al Ghaba Street, PO
Box 297, Khartoum 11111 |
|
|
|
|
Country : |
Sudan |
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|
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Date of Incorporation : |
1937 |
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|
|
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Legal Form : |
Government Corporation |
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Line of Business : |
The role of the CMS is to provide public health facilities with cost
effective medicines through tenders in which the private companies offer
their competitive bids. The CMS is the sole distributor of medicines and
medical supplies to public health facilities. It also provides installation
and maintenance services for medical equipment. |
|
|
|
|
No. of Employees : |
150 |
RATING & COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Sudan |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUDAN - ECONOMIC OVERVIEW
Sudan is an extremely poor country that has experienced
protracted social conflict, civil war, and, in July 2011, the loss of
three-quarters of its oil production due to the secession of South Sudan. The
oil sector had driven much of Sudan's GDP growth since 1999. For nearly a
decade, the economy boomed on the back of rising oil production, high oil
prices, and significant inflows of foreign direct investment. Since the
economic shock of South Sudan's secession, Sudan has struggled to stabilize its
economy and make up for the loss of foreign exchange earnings. The interruption
of oil production in South Sudan in 2012 for over a year and the consequent
loss of oil transit fees further exacerbated the fragile state of Sudan’s economy.
Sudan is also subject to comprehensive US sanctions. Sudan is attempting to
develop non-oil sources of revenues, such as gold mining, while carrying out an
austerity program to reduce expenditures. The world’s largest exporter of gum
Arabic, Sudan produces 75-80% of the world’s total output. Agriculture
continues to employ 80% of the work force. Sudan introduced a new currency,
still called the Sudanese pound, following South Sudan's secession, but the
value of the currency has fallen since its introduction. Khartoum formally
devalued the currency in June 2012, when it passed austerity measures that
included gradually repealing fuel subsidies. Sudan also faces rising inflation,
which reached 47% on an annual basis in November 2012 but subsided to 37% in
2014. Ongoing conflicts in Southern Kordofan, Darfur, and the Blue Nile states,
lack of basic infrastructure in large areas, and reliance by much of the
population on subsistence agriculture keep close to half of the population at
or below the poverty line.
|
Source
: CIA |
Company Name :
CENTRAL MEDICAL SUPPLIES PUBLIC CORPORATION (CMS)
Also Known As :
PUBLIC COMMISSION OF MEDICAL SUPPLY
Country of Origin :
Sudan
Legal Form :
Government Corporation
Registration Date :
1937
Total Workforce : 150
Activities :
Providers of public health facilities.
Financial Condition :
Undetermined
Payments :
Nothing detrimental uncovered
CENTRAL MEDICAL SUPPLIES PUBLIC CORPORATION (CMS)
PUBLIC COMMISSION OF MEDICAL SUPPLY
Registered &
Physical Address
Building :
Central Medical Building
Street : Al Horreya
Street, off Al Ghaba Street
PO Box : 297
Town : Khartoum
11111
Country : Sudan
Telephone : (249-183)
461765 / 574195
Facsimile : (249-183)
460935 / 491008
Mobile : (249-120)
396441 / 390926
Email : cms_sudan@yahoo.com
/ info@nmsf.gov.sd
/ shihab.ali@nmsf.gov.sd
/
bashir.jabbar@nmsf.gov.sd
/ nawal.eltahir@nmsf.gov.sd
Premises
Subject operates from a suite of offices, warehouse and storage facilities
covering an area of 45,145 m2 that are owned and located in the
Central Business Area of Khartoum.
Name Position
Dr Bahr Idriss Abu Qirdah Chairman
& Minister of Health
Dr Jamal Khalfullah General
Manager
Dr Bashir Abdul Jabar Finance
Manager
Dr Nawal Al Tahir Procurement
Manager
Dr Shihab Eldin Ali Sales
Manager
Abd Alrahman Aljali Medical
Supply Manager
Shek Elddin Abd Albagi Executive
Office Manager
Osman Awad Technical
Manager
Waleed Albager Pharmacy
Manager
Ikhlas Abdelrahman Planning
Manager
Mohanad Ibrahim Mohamed Purchasing
Manager
Registration Details : Subject’s
operations date back to 1937 when it was originally formed under the name of
the “Central Medical Stores”, which was the government agency responsible for
free distribution of medical supplies to public health facilities. However this
was abolished in 1992 as part of the health sector reform and in its place was
created the “Central Medical Supplies Public Corporation (CMS)”.
It operates as an Independent
Government Corporation, responsible to the Sudanese Ministry of Health.
Activities: The role of the CMS is to provide public health facilities with cost
effective medicines through tenders in which the private companies offer their
competitive bids. The CMS is the sole distributor of medicines and medical
supplies to public health facilities. It also provides installation and
maintenance services for medical equipment.
Import Countries: India, China and Europe
Subject has a workforce of 150 employees.
Companies registered in Sudan are not legally required to make their accounts
public and no financial information was released by the company or submitted by
outside sources.
Central Bank of Sudan
Gamhoria Street
PO Box: 313
Khartoum
Tel: (249-183) 782246
Bank of Khartoum
PO Box: 1008
Khartoum
Tel: (249-183) 666000
No complaints regarding subject’s payments have been reported.
Central Medical Supplies Public Corporation (CMS) was established in
1992 and is the sole distributor of medicines and medical supplies to public health
facilities throughout Sudan.
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.44 |
|
|
1 |
Rs.102.41 |
|
Euro |
1 |
Rs.75.05 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
|
|
|
|
Report Prepared
by : |
TPT |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.