MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PLASCO LTD |
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Registered Office : |
P. O. Box 76770 Dar es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
12/12/1991 |
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Com. Reg. No.: |
20247 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturing of
PVC pipes, Hose and Conduit Pipe |
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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
PLASCO LTD
Principal Address
P. O. Box 76770 Dar es Salaam Tanzania
Telephone: +255-2865361/2865386
Fax: +255-2863551
Email: plasco@intafrica.com
Internet: none
Established
12/12/1991
Registration
No. 20247 Dar es Salaam Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
80
Office & Factories
Head offices 112 MbozI Road, Changombe Area, Dar es
salaam, Tanzania
Branches Arusha, Tanzania
Company Profile
Paid in Capital Tshs. 120,000,000
Subscribed Capital Tshs. 120,000,000
Shareholders
Name Position Amount Ratio
Mr. Mustakali
Gulambbas Fazal, Director
Mr. Aunali
FidaHussein Rajabali Director
Abbasi Exports Ltd Share Holder 40,000 33.33%
Fidahussein and co
ltd Share Holder 40,000 33.33%
Akma schwarz Share Holder 40,000 33.33%
Total 120,000 100.00%
Credit Opinion
Our proposed credit amount of USD 80,000 is recommendable
Affiliated Companies
Company (1) Abbas Exports Limited
Company (2) Fidahussein & Co Ltd
Management/ Directors
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President/
CEO (1) |
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Name |
Mr.
Mustakali Gulambbas Fazal |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. AunalI Fidahussein
Rajabali |
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
Manufacturing of
PVC pipes, Hose and Conduit Pipe
Terms of payment
Buying terms 50%
in cash, 50% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None Stated
Customers
Hardware Stores,
distribution companies etc
Recent Sales
TZS. 3,200,000,000
(2006)
Exports
None
Export Ratio 0.0%
Import Ratio 40.0%
Domestic Market Share 20.0%
Banking relationship
Main Banks Exim 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 80,000
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%)