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MIRA
INFORM REPORT
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Report No. : |
509024 |
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Report Date : |
18.05.2018 |
IDENTIFICATION DETAILS
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Name : |
AMIPHARMA LABORATORIES LTD |
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Registered Office : |
El Salam Building, Khartoum North Industrial Area, Plot No. 33, Block
7, PO Box 180, Khartoum North 13311 |
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Country : |
Sudan |
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Financials (as on) : |
31.12.2017 |
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Date of Incorporation : |
01.04.1981 |
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Com. Reg. No.: |
S2185, Khartoum |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject
is engaged in the manufacture and preparation of pharmaceuticals and drugs,
as well as antibiotic capsules, dry powders, syrups and suspensions. |
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No. of Employees : |
900 |
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 :
AMIPHARMA LABORATORIES LTD
Country
of Origin :
Sudan
Legal
Form :
Limited Liability Company
Registration
Date : 1st
April 1981
Commercial
Registration Number : S2185,
Khartoum
Issued
Capital :
SD 75,000,000
Paid
up Capital :
SD 75,000,000
Total
Workforce :
900
Activities :
Manufacturers of pharmaceuticals and drugs
Financial
Condition :
Good
Payments :
REGULAR
Company name and address
COMPANY
NAME:
AMIPHARMA LABORATORIES LTD
ADDRESS
Registered
& Physical Address
Building : El Salam Building
Location : Khartoum North Industrial Area,
Plot No. 33, Block 7
PO
Box : 180
Town : Khartoum North 13311
Country : Sudan
Telephone : (249-185) 311442 / 311443 / 311448 /
311449
Facsimile : (249-185) 314721 / 314722
Email : amipharma_sudan@yahoo.com
/ info@amipharma-labs.com / elhadiibrahim55@gmail.com
Premises
Subject operates from a suite of
offices and a factory covering an area of 28,600 square metres that are owned
and located in the Industrial Area of Khartoum North.
Branch Offices
Location Description
Khartoum Office
premises
Tel: (249-183) 781755
Fax: (249-183) 781975
Medani Office premises
Tel: (249-511) 842988
Fax: (249-511) 841235
Nyala Office premises
Tel: (249-711) 830705
Fax: (249-711) 836243
Port
Sudan Office
premises
Tel: (249-311) 824247
Fax: (249-311) 821311
KEY PRINCIPALS
Name Position
Dr
Ahmed Al Badawi Mohamed Al Ameen Hamid Managing
Director
Al
Rasheed Mohamed Al Ameen Hamid Director
Mahmoud
Mohamed Al Ameen Hamid Director
Samia
Ali Hamad Administration
Manager
Luba
Al Taher Marketing Manager
Faisal Sabir Suliman Production Manager
Mamoun
Al Taher Quality
Assurance Manager
Nassereddine Mohamed Quality
Control Manager
Elhadi Mohammed Ibrahim Finance
Manager
Jahindra Kumar Sales Manager
Asim Sirelkhatim Ali Human
Resources Manager
Elamin Ahmed Elebedawi Mohamed Elamin Planning
Manager
LEGAL FORM & OWNERS
Date
of Establishment : 1st April 1981
Legal
Form :
Limited
Liability Company
Commercial Reg. No. :
S2185,
Khartoum
Issued
Capital : SD 75,000,000
Paid
up Capital : SD 75,000,000
Name of Shareholder (s)
Dr
Ahmed Al Badawi Mohamed Al Ameen Hamid
Al
Rasheed Mohamed Al Ameen Hamid
Mahmoud
Mohamed Al Ameen Hamid
AFFILIATED COMPANIES
Modern
Refrigeration Factory (Liebherr)
Khartoum
ARM
Trading & Engineering
Khartoum
OPERATIONS
Activities: Engaged in the manufacture
and preparation of pharmaceuticals and drugs, as well as antibiotic capsules,
powders, syrups and suspensions.
Production Capacities:
Plain
tablets 450
million
Coated
tablets 250 million
Capsules 180 million
Dry
powders 6
million
Syrups
and suspensions 8 million
Import
Countries:
Germany, United Kingdom, Switzerland and Jordan
International
Suppliers:
BASF Germany
Martin Dale United
Kingdom
Sanofi Switzerland
Al Hikma Jordan
Brand
Names:
AMIPHARMA
Subject
has a workforce of approximately 900 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency:
Sudanese Dinars (SD)
Year
Ending 31/12/17:
Total
Sales SD
1,800,000,000
Local
sources consider subject’s financial condition to be Good.
The
above figures were provided by Elamin
Ahmed Elebedawi Mohamed Elamin, Planning Manager
BANKERS
Al
Shamal Islamic Bank
Sayed
Abdul Rahman Avenue
Khartoum
PAYMENT HISTORY
subject’s
payments have been reported Regular
Date
of transaction December
2004
Credit
amount 100,000
Amount
overdue 0
Payment
terms 90 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established in 1982, subject is
involved in the manufacture and preparation of pharmaceuticals and drugs under
the brand name Amipharma.
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.
According to local sources, subject’s
financial condition is satisfactory whilst payments are made in a timely
manner. The company’s operating history is reportedly clear and 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 67.71 |
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1 |
INR 91.89 |
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Euro |
1 |
INR 79.89 |
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SDG |
1 |
INR 3.77 |
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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PRA |
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Report Prepared
by : |
DNS |
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
·
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.