|
|
|
MIRA INFORM REPORT
|
Report No. : |
507296 |
|
Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALPHA MEDICAL AGENCIES |
|
|
|
|
Registered Office : |
Al Nazer Building, 1st Floor Al Gamhouria Street
Khartoum |
|
|
|
|
Country : |
Sudan |
|
|
|
|
Date of Incorporation : |
1990 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in the import and distribution of human
and veterinary medicines. |
|
|
|
|
No. of Employees : |
70 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2017) |
Current Rating (31.12.2017) |
|
Sudan |
D |
D |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
SUMMARY
Company Name : ALPHA MEDICAL AGENCIES
Country of Origin : Sudan
Legal Form : Limited Liability Company
Registration Date : 1990
Issued Capital : SD 500,000
Paid up Capital : SD 500,000
Total Workforce : 70
Activities : Distributors of human and veterinary medicines
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 150,000
Person Interviewed : Emmanuel Sami Ragheb, Business Development Manager
COMPANY
NAME
ALPHA MEDICAL AGENCIES
ADDRESS
Registered &
Physical Address
Building :
Al Nazer Building, 1st Floor
Street : Al Gamhouria Street
Town : Khartoum
Country :
Sudan
Telephone :
(249-183) 797483
Facsimile :
(249-183) 797484
Mobile :
(249-912) 500519 / 133201
Email :
emmanuel@alfamedicalsudan.com / info@alfamedicalsudan.com
Premises
Subject operates from a medium sized suite of offices that
are rented and located in the Central Business Area of Khartoum
KEY
PRINCIPALS
Name Position
· Dr
Mostafa Awad Al Karim Managing
Director
·
Alaa Mostafa Awad Al
Karim Director
· Aliya Mostafa Awad Al Karim Director
· Emmanuel
Sami Ragheb Business
Development Manager
LEGAL
FORM & OWNERS
Date
of Establishment : 1990
Legal
Form : Limited
Liability Company
Issued Capital : SD
500,000
Paid up Capital : SD
500,000
Name of Shareholder (s)
· Dr
Mostafa Awad Al Karim
·
Alaa Mostafa Awad Al
Karim
· Aliya Mostafa Awad Al Karim
OPERATIONS
Activities: Engaged in the import and distribution
of human and veterinary medicines.
Import Countries: France and the United Kingdom
International Suppliers:
· Martine Dale Pharma United
Kingdom
· LFB France
· Sanofi France
Subject has a workforce of 70 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
·
Bank of Khartoum
8
Gamhouria Avenue
PO
Box: 1008
Khartoum
Tel:
(249-183) 772880
PAYMENT
HISTORY
No complaints regarding subject’s payments have been
reported.
GENERAL
COMMENTS
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 |
INR 67.22 |
|
|
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.09 |
|
SDG |
1 |
INR 3.74 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
Company
background and operations size
·
Promoters
/ Management background
·
Payment
record
·
Litigation
against the subject
·
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.