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MIRA INFORM REPORT
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Report No. : |
492701 |
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Report Date : |
22.02.2018 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL MEDICAL
SUPPLIERS FUND |
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Registered Office : |
Al Hurriyah
Street, Khartoum South, P O Box: 297, Khartoum |
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Country : |
Sudan |
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Year of Establishment : |
1935 |
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Legal Form : |
Government Organization |
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Line of Business : |
Subject is the
national center for procurement, storage and distribution of medical supplies
in Sudan. It also operates a number of pharmacies. |
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No. of Employees : |
200 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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
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Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
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Sudan |
D |
D |
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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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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SUDAN - ECONOMIC OVERVIEW
Sudan 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. 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.
Sudan was subject to comprehensive US sanctions, which were lifted in October 2017. Sudan is attempting to develop non-oil sources of revenues, such as gold mining and agriculture, 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 high inflation, which reached 47% on an annual basis in November 2012 but fell to about 35% per year in 2017.
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Source
: CIA |
SUMMARY
Company Name : NATIONAL
MEDICAL SUPPLIERS FUND
Country of Origin : Sudan
Legal Form : Government Organization
Registration Date : 1935
Issued Capital : SD
100,000,000
Paid up Capital : SD
100,000,000
Total Workforce :
200
Activities :
Distributors of pharmaceuticals, medical equipment and consumables
Financial Condition : Undetermined
Payments :
Regular
COMPANY
NAME
NATIONAL MEDICAL
SUPPLIERS FUND
ADDRESS
Registered & Physical
Address
Street : Al Hurriyah Street
Area : Khartoum South
PO Box : 297
Town : Khartoum
Country : Sudan
Telephone : (249-183) 461765 / 574195
Facsimile : (249-183) 491008
/ 460723 / 460935
Email : ask@nmsf.gov.sd
Premises
Subject operates
from a suite of offices and a warehouse covering 14,000 m2 that are
rented and located in the Central Business Area of Khartoum.
Branch Office
(s)
Location Description
·
Dr
Ahmed Hassan Pharmacy Pharmacy
Khartoum South
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Bahry
Hospital Incidents Pharmacy
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Omdurman
Pharmacy Pharmacy
Al Shuhadaa
KEY
PRINCIPALS
Name Position
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Dr
Jamal Khalaf Allah Mohamed Ali Managing
Director
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Dr Mohamed
El Amin El Siddig El Tayeb Director
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Dr
Abdullah Mohamed El Hassan Director
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Dr
Mohamed El Mahdi Mandour Director
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Dr
Babiker Abdulsalam Director
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Dr
Hassan Abdulwahab Director
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Dr
Abdulrahman El Rasheed Director
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Dr Hamdi
Salih Gabbani Director
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Dr
Kamal Mohamed Medani Director
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Professor
Abdulhameed Ibrahim Director
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Dr
Ibrahim Ahmed Hassan Director
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Dr
Abdul Aziz Nugud Director
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Dr Ali
Al Nour Director
· Dr El Hadi El
Nagar Director
LEGAL
FORM & OWNERS
Date of Establishment : 1935
Legal Form :
Government
Organization
Issued Capital : SD 100,000,000
Paid up Capital : SD 100,000,000
Name of Shareholder (s)
·
Government
of Sudan
AFFILIATED
COMPANIES
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Abdel Hamid
Ibrahim Training Centre
Khartoum
OPERATIONS
Activities: National Medical Supplies Fund is the
national centre for procurement, storage and distribution of medical supplies
in Sudan. It also operates a number of pharmacies.
Import
Countries: Europe and the
Far East
Subject has a
workforce of 200 employees.
FINANCIAL
DATA
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.
BANKERS
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Mashreq
Bank PSC
PO Box: 371
Baldia Street
Khartoum
Tel: (249-183) 772881
Fax: (249-183) 772969
PAYMENT
HISTORY
Regular
GENERAL
COMMENTS
The subject and its
shareholders/owners have been searched in the following databases; Office of
Foreign Assets Control (OFAC), United Nations Security Council Sanctions,
Australian Sanctions List, US Consolidated Sanctions List, EU Financial
Sanctions List and UK Financial Sanctions List and nothing adverse could be
found on the exact names listed within the report.
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.82 |
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1 |
INR 90.66 |
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Euro |
1 |
INR 79.94 |
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SDD |
1 |
INR 3.58 |
Note:
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
·
Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.