MIRA INFORM REPORT
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Report Date : |
10th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ANSA TECHNOLOGIES LIMITED |
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Registered Office : |
40 Cipero Road, Victoria Village |
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Date of Incorporation : |
02.01.2005 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
It is engaged in the in
oilfield, energy and industrial services and supplies area by specialising in
the import, sale and maintenance of oil & gas and industrial equipment
and controls, automation and process engineering and services, E & I
projects and construction, instrumentation & engineering, electrical
instrumentation, installation and maintenance, valve repair and chain block
repair services, etc. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 |
Company's Style
ANSA TECHNOLOGIES LIMITED
Trade Name
Same
Trading Address
40 Cipero Road, Victoria Village
Town :
SAN FERNANDO
Island :
TRINIDAD
Mailing address
P.O. Box 10, & 98
Telephone : (1-868) 652 3571/3572 - 657 7151
Fax :
(1-868) 652 6407/5575
E-Mail :
ansatech@tstt.net.tt
Country : TRINIDAD & TOBAGO (W.I.)
BACKGROUND INFORMATION
& BUSINESS PROFILE
LEGAL STRUCTURE
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Legal status : Private Limited Company
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Formation Date : 02.01.2005
HISTORICAL:
The company's activities date back to 1941 when founded HARDWARE & OILFIELD
EQUIPMENT COMPANY LIMITED. In 2002 ANSA TECHNOLOGIES was created as a division
of Hardware & Oilfoiled Co. Ltd. and finally in January/2005 it was spun
off as a separate company under the captioned style.
CAPITAL STRUCTURE
& OWNERSHIP : (in TT$, Trinidad & Tobago Dollars)
SHARE CAPITAL : TT$ 1.500.000
Its stock is divided into bearer and ordinary no par-value shares each
one. It is a private company whose shares are no traded on the Stock Exchange.
Its controlling shareholders is ANSA McAL LTD.
MANAGEMENT :
Chairman A.
Norman SABGA
Directors David
B. SABGA
Andrew
SABGA
Managing Director Rodney R.
JAGAI
General Manager Deryck Beepath
No negative occurrences on subject's principals are recorded.
TYPE OF BUSINESS :
TRADER / IMPORTER - WHOLESALER
MAIN BUSINESS LINE :
HARDWARE & OILFIELD EQUIPMENT,
SUPPLIES & SERVICES
PRINCIPAL
ACTIVITIES : It is engaged in the in
oilfield, energy and industrial services and supplies area by specialising in
the import, sale and maintenance of oil & gas and industrial equipment and
controls, automation and process engineering and services, E & I projects
and construction, instrumentation & engineering, electrical
instrumentation, installation and maintenance, valve repair and chain block
repair services, etc.
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Company Size : Moderate-size
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Business trend : Stable
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Present situation : Operating normally
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Outlook : Favourable
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Organization : Average. No major problems observed.
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Reputation :
Long established and well-known company of good reputation. An active company
in its line. Good market position.
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Management standard: The management consists of well-known businessmen
of good repute, and with years of experience in related fields. Traditional
methods of management with good forward planing, and well defined corporate
policy
SALES &
TRADING DETAILS
ü Annual Sales :
USD 4.000.000
ü Sales trend :
upwards
ü Selling
method : 100 % wholesale
ü Selling Term :
20 % cash, 80 % on a 30-day open acct. credit basis
ü Sales
Territory : National
ü Sales Seasonality : stable throughout the year
ü Distribution
channels & points of sale : Sales are direct to oil companies, utilities,
industrial and manufacturing companies, etc. and it also bids for Governmental
and Municipal contracts.
ü Sales
branches : No
ü New products or
services: under study
ü Market situation : competitive
ü Advertising means : specialised publications, fairs and
expositions, etc.
Purchases : Local sources: 10 % - Overseas (imports): 90 %
Imports from : U.S.A., Europe, Japan, P.R. China, etc.
Imports in USD : 2.000.000 per
year
Terms imports : L/C, CAD terms, drafts over 90 to 120 days, etc.
STAFF :
75
BANKERS : RBTT Bank Ltd.,
Republic Bank Ltd.
INSURERS : Trinidad & Tobago Insurance Ltd.
TANGIBLE FIXED ASSETS,
INVESTMENTS, ETC.
PHYSICAL ASSET
HOLDINGS : Owner of premises at the captioned address
CREDIT STANDING
BANKING RECORD : Banks reported
properly managed checking accounts (local currency and USD), also foreign trade
operations, ollections of bills of exchange, negotiation of LC's. and credit
lines in USD for imports until low 6 figures. Local currency working capital
loans and secured credit facilities for receivables discounting until high 7 figures,
with good experience reported to date. Securities: Accts. receivable &
inventories.
Good credit history information and banker's opinion.
TRADE REFERENCES
SURVEY :
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Supplier |
Supplies |
Supplies |
Supplies |
Supplies |
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Known since |
Years |
Years |
Years |
Years |
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Latest Purchase Date |
Mar/2006 |
Mar/2006 |
Mar/2006 |
Mar/2006 |
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Latest Purchase Amount |
USD 8.132 |
USD 23.100 |
USD 13.712 |
USD 15.108 |
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Highest Purchase |
USD 12.855 |
USD 25.430 |
USD 16.335 |
USD 20.131 |
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Buying terms
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30-day O/A |
30-day O/A |
30-day O/A |
30-day O/A |
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Paying record |
PROMPT |
PROMPT |
PROMPT |
PROMPT |
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NSF checks |
NO |
NO |
NO |
NO |
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Delayed payments |
NO |
NO |
NO |
NO |
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Non-payments |
NO |
NO |
NO |
NO |
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Experience |
GOOD |
GOOD |
GOOD |
GOOD |
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Rating |
GOOD |
GOOD |
GOOD |
GOOD |
PAYMENT ANALYSIS
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Type of suppliers : Mfrs., local trade & service
suppliers
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Payment patterns : Good bill-pay habits. Pays within agreed
terms
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Commercial morality : GOOD -
Commitments are respected
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Repayment capacity : Moderate
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Negative facts check : No
defaults, delinquencies, legal suits, judgements, collection claims, protested
items, returned checks or other detrimental record or adverse references are
traced against the subject.
FINAL OPINION
We are reporting upon a moderate-size company which is considered to be
a successful business operation and a well organized company. It operates on a
good scale and enjoys an ample and well diversified clientele. It is also a
financially sound company, well run by experienced staff and its future outlook
is favourable. The company has a generally prompt payment record and the
operating history appears clear. National banking and commercial references are
favourable and no adverse information was learned, so the firm appears to be
operating normally. Therefore, so business connections with this company are suitable,
and moderate credits are recommended under normal supervision.
CREDIT QUALITY ANALYSIS
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Level of riskiness : Standard
(Noremal)-risk buyer
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Credit soundness : Good
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Credit appraisal : Recommended
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Potential credit limit : USD
100.000
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Assessment : It is considered to be an initial
credit limit
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Credit surveillance : Subject to
regular review & supervision
Exchange rate: USD 1 = TT$ 6,25
RATING EXPLANATIONS
RATING
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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 |