MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
INSIGNIA LTD |
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Registered Office : |
P. O. Box 71449, Dar Es Saalam |
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Country : |
Tanzania |
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Date of Incorporation : |
23/12/1992 |
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Com. Reg. No.: |
22272 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturers of iron and steel bars, metal fabricators and steel
fabricators |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
INSIGNIA LTD
Principal Address
P. O. Box 71449, Dar Es Saalam. Tanzania
Telephone: +255-22- 286 4049, 2863893, 2863824
Fax: +255-22-2864762
Email: info@insigniatz.com
Internet: www.insigniatz.com
Established
23/12/1992
Registration
No. 22272 Dar Es Saalam. Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
85
Office & Factories
Head offices Mbozi Road, Chang'ombe Industrial Area, Dar es Salaam, Tanzania.
Branches Moshi, and Mwanza
Company Profile
Paid in Capital TZS. 500,000,000
Subscribed Capital TZS. 400,000,000
Shareholders
Name Position Amount Ratio
Mr. Sadrudin
Shariff CEO 1 0.00%
Mr. Sadrudin
Mangalji Director 25,000 6.25%
Mr. Sultan Rashid Director 20,000 5.00%
Mr. Aziz Lalani Director 40,000 10.00%
Mr. Saleem Rashid Director 40,000 10.00%
Avellino
Foundation Shareholder 100,000 25.00%
Shariff
Investments Ltd Shareholder 99,999 25.00%
Mr. Majid mangalji Shareholder 25,000 6.25%
Mr. Moiz mangalji Shareholder 25,000 6.25%
Mr. Farid mangalji Shareholder 25,000 6.25%
Total 400,000 100.00%
Credit Opinion
Our proposed credit amount of USD 200,000 is recommendable
Affiliated Companies
Company (1) SHARIFF INVESTMENTS LTD
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Sadrudin Shariff |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Sadrudin Mangalji |
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
Manufacturers of iron and steel bars, metal fabricators and steel
fabricators
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None Stated
Customers
General Industries
Recent Sales
TZS. 2,100,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 20.0%
Domestic Market Share 20.0%
Banking relationship
Main Banks CRDB Bank
Credit Check of Subject,
President & CEO
(as of report date)
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 200,000 outstanding at any one time.
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. |
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%)