MIRA
INFORM REPORT
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Report Date : |
27th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
DLM PVT LTD CO. |
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Registered Office : |
Karada Sub City, Sector 1, Kebele 14, House No. 354, P. O. Box
4461, Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
2001 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers and wholesalers of T-shirts. |
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 |
COMPANY NAME
DLM PVT LTD CO.
ADDRESS
Street : Karada Sub City, Sector 1, Kebele 14, House
No. 354
P.O. Box : 4461
Town :
Addis Ababa
Country :
Ethiopia
Telephone : (251 11) 156 1212 / (251) 911 200 800
(mobile)
Fax :
(251 11) 155 3055
E-Mail :
elm@ethionet.et
SENIOR COMPANY PERSONNEL
Name Position
Barath D. Methat Managing Director
Total Employees
225
PAYMENTS
No complaints have been heard regarding payments from local
suppliers or banks.
We consider it is acceptable to deal with subject for MEDIUM
amounts, although it is normal accepted practice for international suppliers to
deal on secured terms with Ethiopian importers.
Opinion on maximum credit :
BIRR 1,000,000
Trade risk assessment :
Normal
PRINCIPAL BANKERS
NAME : AWASH INTERNATIONAL BANK S.C.
Branch : Main Branch
Street : Bole Road
P.O. Box : 12638
Town : Addis Ababa
Telephone : (251 11)
661 4482-85 / 661 2919 / 662 0103 / 620 985
Fax : (251 11) 661 44 77
E-mail : awash.bank@ethionet.et
The company also has an account with the following bank :
Abyssinia Bank
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed
offered the following information :
Sales Turnover : US DLRS
10,000,000 - 2006 - exact
Net Profit : not given
LEGAL STATUS AND HISTORY
Date Started :
2001
Authorized & Paid up Capital :
BIRR 3,000,000
Private Limited Liability Company with the following shareholders
:
Percentage
1. Barath D. Methat 60 %
2. Fahamukh Methat
40 %
(brother of the above)
ACTIVITIES
The Company is involved in the following activities :
Manufacturers and wholesalers of T-shirts.
Imports from Asia (mainly India, China), USA and European
countries.
FACILITIES
The Company has the following facilities :
Administrative offices located at the heading address.
Subject's factory is situated in Kaliti, 15 Km from Addis Ababa.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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