MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
SUCHAK
PLASTICS LTD |
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Registered Office : |
P.o Box
428 Arusha |
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Country : |
Tanzania |
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Date of Incorporation : |
16.02.1994 |
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Com. Reg. No.: |
No.
24771 Tanzania |
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Legal Form : |
Limited Liability company, Limited by shares |
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Line of Business : |
Manufacturers of industrial and household plastics |
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 60,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY NAME
SUCHAK
PLASTICS LTD
Address
P.o Box 428 Arusha Tanzania
Telephone: +255-22-2865864 / 2865868
Fax: +255 -22-2865792
Email: nick@intafrica.com
Internet: None
Established
16/02/1994
Registration
No. 24771 Tanzania
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
70
Office &
Factories
Head offices Plot 2360/75/D, Nyerere Road, Dar-Es-Salaam, Tanzania
Branches None
Company Profile
Paid in Capital Tshs. 100,000,000
Subscribed Capital Tshs. 1,000,000
Shareholders
Name Position Amount Ratio
Mr. Nimesh
Kantilal Suchak Director 20 20.00%
Mr. Manoj K Suchak Director
Rubic Investments
Limited, Guernsey Share Holder 50 50.00%
A N Suchak
holdings ltd Share Holder. 30 30.00%
Total 100 100.00%
Credit Opinion
Our proposed credit amount of USD 60,000 is recommendable
Affiliated Companies
Company (1) Jambo Plastics Ltd
Management/ Directors
President/ CEO (1)
Name Mr. NimesH
Kantilal Suchak
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Manoj K
Suchak
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
industrial and household plastics
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 outlets
Recent Sales
TZS.
2,650,000,000 (2006)
Exports
None
Export Ratio
0.0%
Import Ratio
60.0%
Domestic Market Share
52.0%
Banking relationship
Main Banks
Barclays Bank
Diamond Trust 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 60,000 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%)