MIRA
INFORM REPORT
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Report Date : |
08.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NILE
BREWERIES LTD |
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Registered Office : |
P O Box 762 Jinja, |
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Country : |
Uganda |
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Date of Incorporation : |
1951 |
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Com. Reg. No.: |
No. P37 Uganda |
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Legal Form : |
Limited
Liability company, Limited by shares |
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Line of Business : |
Brewery
for Production of Beer |
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 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
NILE BREWERIES LTD
Address
P.o Box 762 Jinja, Uganda
Telephone: +256-332-210009
Fax: +256-332-240292
Email:
nblsales@ug.sabmiller.com
Internet:
www.nilebreweries.com
Established
1951
Registration
No. P37 Uganda
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
600
Office &
Factories
Head offices Yusuf Lule Road, Njeru, Jinja, Uganda
Branches Depots At Jinja, Kampala, Mbarara
Company Profile
Paid in Capital UShs 16,000,000,000
Subscribed Capital UShs 8,359,270,770
Shareholders
Name Position No. of shares Ratio
Dr. Jack Luyombya CEO 100
Mr. Mayur M. Madhvani Director 202,725
Mr. Kamlesh M. Madhvani Director 100
Mr. Andre C.
Parker Director 100
Mr. Jonathan A.
Kirby Director 100
Mr. Geoff Johnson Director 100
Mr. HendrY R.B.
Rudd Director 100
Mr. Ronak P.
MAdhvani Director 90,100
Mr. Mathias M.
Ngobi Director 316
Muljibhai Madhvani
& Company Ltd Shareholder 40.50%
South African
Breweries Int. (Africa) Ltd Shareholder. 40.00%
Madhvani Group
Holdings Ltd Shareholder 12.52%
Total 835,927,077
100.00%
Credit Opinion
Our proposed credit amount of USD 250,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Dr. Jack Luyombya
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Geoff Johnson
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
Brewery for
Production of Beer
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None
Customers
Local agencies ,
stores and distribution outlets
Recent Sales
UGS.
142,000,000,000 (2006)
Exports
None
Export Ratio
0.0%
Import Ratio
50.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks
Stanbic Bank (U)
Ltd
Bank Of Baroda (U)
Ltd
Standard Chartered
Bank (U)Ltd
Citibank (U)
Limited, Kampala
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 250,000 outstanding at any one time.
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Balance sheet Items |
UGX 000 |
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Property Plant and equipment |
25,000,000 |
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Inventories |
15,000,000 |
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Trade and other receivables |
6,500,000 |
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Trade and other payables |
8,500,000 |
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Borrowings |
289,867 |
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%)