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MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
CHEMICALS AND SOLVENTS
(EA) LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
31/01/1989 |
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Com. Reg. No.: |
39330 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Importers and
distributors of Industrial fine chemicals |
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 : |
USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
CHEMICALS AND SOLVENTS (EA) LTD
Principal Address
Telephone: +254-20-555427/ 553962/ 535448
Fax: +254-20-555735/ 550184
Email: chemsolv@swiftkenya.com
Internet: None
Established
31/01/1989
Registration
No. 39330
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
14
Office &
Factories
Head offices Kate
House, Off Enterprise Road, Industrial Area,
Branches None
Company Profile
Paid in Capital KSHS. 7,500,000
Subscribed Capital KSHS. 7,500,000
Shareholders
Name Position Amount Ratio
Mr. Abdul Razak Farrah CEO 74,999 99.99%
Mrs. Fatuma Harun Ahmed Yassin Director 1 0.01%
Mr. Faisal Abdullahi Manager
Total 75,000 100.00%
Credit Opinion
Our proposed credit amount of USD 50,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Abdul Razak Farrah |
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Work Experience |
20 years in this line of business |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mrs. Fatuma Harun Ahmed
Yassin |
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Work Experience |
17 years in this line of business |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Importers and
distributors of Industrial fine chemicals
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
BASF
Customers
Local agencies, stores and
outlets
Recent Sales
KSHS. 192,000,000 (2006)
Exports
None
Export Ratio 0.0%
Import Ratio 70.0%
Domestic Market Share 20.0%
Banking relationship
Main Banks Barclays Bank
Credit Check of
Subject, President & CEO
Payment Morale: In the documents at our disposal nothing
adverse has been shown so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 50,000 outstanding at any one time. Additional info to follow
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%)