MIRA
INFORM REPORT
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Report Date : |
7th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
CONSTRUCTION
EQUIPMENT AFRICA LIMITED |
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Registered Office : |
Plot
No. 94, Mwenzo Mpya, Nyerere Road 40083,
Dar es Salaam, Tanzania |
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Country : |
Tanzania |
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Date of Incorporation : |
December
2000 |
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Com. Reg. No.: |
40548 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
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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 : |
Regular
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Litigation : |
Clear |
CO. NAME
CONSTRUCTION
EQUIPMENT AFRICA LIMITED
ADDRESS
Street : Plot No. 94, Mwenzo Mpya, Nyerere Road
P.O.
Box : 40083
Town : Dar es Salaam
Country : Tanzania
Telephone :
(255 22) 286 6310 / 286 4385 / 286 3849
(255) 744 777 555 & 744 293 566 (mobile)
Fax : (255 22) 286 3813
E-Mail : bob@equipafrica.com
Shortform
Name : CEAL
SENIOR COMPANY PERSONNEL
Name Position
1.
Robert Thompson Managing Director
2.
SAltalias Georii Mmbando Sales Director
Total
Employees : 215
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for SMALL amounts, although it
is normal accepted practice for international suppliers to deal on secured
terms with Tanzanian importers.
Opinion
on maximum credit : TAN Shs 75,000,000
Trade
risk assessment : Normal
PRINCIPAL BANKERS
NAME : STANDARD CHARTERED BANK TANZANIA
LIMITED
Branch : NIC Life House
Street : cnr Sokoine Drive and Ohio Street
PO
Box : 9011
Town : Dar es Salaam
Telephone
: (255 22) 211 7345-50
Fax : (255 22) 211 3770
Account
No: 8704020590500
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : US DLRS 5,355,715 - 2006 - exact
: US DLRS 15,000,000 - 2007 - projected
Net
Profit : not given
Financcila
year ends 31 march.
LEGAL STATUS AND HISTORY
Date
Started : December 2000
History
: The company was incorporated in Tanzania in December 2000.
C.R.
No. : 40548
Paid
up Capital : USD DLRS 200,000
Limited
Liability Company with the following shareholders :
Percentage
1.
Robert Thompson 98%
2.
Estin Bando 2%
ACTIVITIES
The
Company is involved in the following activities :
Importers,
exporters and distributors of engines, generators, earth moving equipment and
accessories.
The
company also provides maintenance and repair services.
Distributors
for Yammar, Lister, Bobkat and Sellwood.
Imports
from Italy, UK and Germany.
Exports
to Uganda and Sudan.
Principle
overseas supliers :
1.
Techigen Ltd
UK
2.
Visa SpA
Italy
FACILITIES
The
Company has the following facilities :
Administrative
offices and storage facilities located at the heading address.
Formerly
operated from Plot 1b/20 Nyerere Road. Moved to the above address in the first
week of January 2005.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |