MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
CHEMI AND COTEX INDUSTRIES LTD |
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Registered Office : |
P. O. Box 347,Dar-es-salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
1/10/2000 |
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Com. Reg. No.: |
39390 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturer of
cosmetics and Industrial, household, Plastics, Packaging Materials &
other similar products. |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
CHEMI AND COTEX INDUSTRIES LTD
Principal Address
P. O. Box 347,Dar-es-salaam,Tanzania
Telephone: +255-22-2628014/17
Fax: +255-22-2627637
Email: sect@cciltz.com
Internet: www.sample.com
Established
1/10/2000
Registration
No. 39390
National ID
25130072
VAT number
003-25130072
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
400
Office & Factories
Head offices Hassan MwinyiRoad Mbezi Industrial Area, Plot
89/90 Tanzania
Branches Mwanza, Arusha, Mbeya
Company Profile
Paid in Capital Tshs. 3,891,950,000
Subscribed Capital Tshs. 3,891,950,000
Shareholders
Name Position No. of shares Ratio
Mr. Yogesh M.
Manek Director 38,762
Mr. Pradip M.
Manek Director
Mr. Santosh Desai Managing Director
Mr. Vinod K. Dhall Director
Mac Group Ltd, Tanzania Holding Company 1,864,238
Cumberland Ltd, United Kingdom 1,775,530
Manek Trading Co Ltd, Tanzania 213,520
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 200,000 is recommendable
Affiliated Companies
Company (1) AFRICAN MOSFLY INDUSTRIES LTD
Company (2) ALLIANCE INSURANCE CORPORATION LTD
Company (3) ARIMAN
TECHNOLOGIES LTD
Company (4) CORTEZAN INVESTMENTS LTD
Company (5) EAST USAMBARA TEA
CO. LTD
Company (6) EXIM BANK (TANZANIA) LTD
Company (7) FURNITURE
INDUSTRIES
Company (8) HERITAGE INSURANCE ALL LTD
Company (9) HOLTAN INVESTMENTS
CO LTD
Company (10) INCAR TANZANIA LTD
Company (11) MAC GROUP LTD, INDIA
Company (12) MANEK TRADING COMPANY LTD
Company (13) METRO INDUSTRIES LTD, Kampala
Company (14) MINIJINGU MINES & FERTILISERS LTD
Company (15) MOUNT MERU VIEW
ESTATE
Company (16) NUFAIKA DISTRIBUTORS LTD
Company (17) NYANZA MINES (TANGANYIKA) LTD
Company (18) OASIS LTD
Company (19) PIL TANZANIA LTD
Company (20) STRATEGIS INSURANCE TANZANIA LTD
Company (21) VAKAM CORPORATION INC USA
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Yogesh M. Manek |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Pradip M. Manek |
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
Manufacturer of
cosmetics and Industrial, household, Plastics, Packaging Materials & other
similar products.
Terms of payment
Buying terms 80% in cash, 20% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None
Customers
chain stores, wholesalers,
distributor’s etc
Recent Sales
TZS. 36,000,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 40.0%
Domestic Market Share 60.0%
Banking relationship
Main Banks Stanbic Bank
Barclays 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%)