MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
NEW TEXT BOOK CENTRE LTD |
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Registered Office : |
Nkrumah Street, Opp. CO Cabs, P. O. Box 20468, Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
April 1970 |
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Com. Reg. No.: |
31785 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers and retailers of a wide variety of books. |
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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Maximum Credit Limit : |
TAN Shs 30,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
NEW TEXT BOOK CENTRE LTD
ADDRESS
Street : Nkrumah Street, Opp. CO Cabs
P.O. Box :
20468
Town : Dar Es Salaam
Country : Tanzania
Telephone :
(255 22) 211 2190 / (255) 7486 13749 (mobile)
Fax : (255 22) 212 1455
E-Mail : gbs@cats-nets.com
SENIOR COMPANY
PERSONNEL
Name Position
Ashok Patel Managing Director
Total Employees
10
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 30,000,000
Trade risk assessment : Normal
Opinion on the credit
figure of US DLRS 150,000 :
The above figure is
higher than normally seen in one amount, however could prove admissible in a
series of transactions provided the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME :
NATIONAL BANK OF COMMERCE (1997) LTD
Branch :
NBC House
Street :
Sokoine Drive
PO Box :
1863
Town :
Dar Es Salaam
Telephone : (255 22) 211 3914 / 211 2082
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : US DLRS 2,000,000 - 2006 - exact
: US DLRS 2,000,000 - 2007 - projected
Net Profit :
not given
Financial year ends 31
December.
LEGAL STATUS AND
HISTORY
Date Started : April 1970
History : The company was incorporated in
Tanzania in April 1970.
C.R. No. : 31785
Capital : not given
Limited Liability Company
with the following directors and shareholders :
Shareholders
Ashok Patel 100%
Affiliated companies of
New Text Book Centre Ltd :
Associates
General Book Sellers Ltd
Dar Es Salaam
ACTIVITIES
The Company is involved
in the following activities :
Importers and retailers
of a wide variety of books.
Imports from India and
UK.
FACILITIES
The Company has the
following facilities :
Rented premises comprising
administrative offices, retail outlet and storage facilities located at the
heading address and 5 retail centers throughout Dar Es Salaam.
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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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 and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)