MIRA INFORM REPORT

Report Date :

18.12.2007

IDENTIFICATION DETAILS

Name :	ADPLAST LTD
Registered Office :	Pugu Road, Chang'ombe, Dar Es Salaam
Country :	Tanzania
Date of Incorporation :	12/10/1989
Com. Reg. No.:	43072
Legal Form :	Limited Liability Company, Limited by shares
Line of Business :	Manufacturers & Distributors of Plastic products etc

RATING & COMMENTS

MIRA’s Rating :

Ba

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 80,000
Status :	Satisfactory
Payment Behaviour :	Regular

COMPANY REPORTED

ADPLAST LTD

Principal Address

Pugu Road, Chang'ombe, Dar Es Salaam Tanzania

Telephone: +255-22-2860759

Fax: +255-22-2860759

Email: None

Internet: None

Established

12/10/1989

Registration

No. 43072 Dar Es Salaam

Legal Form

limited Liability company, Limited by shares

Stock Listing

Not Listed

Workforce

2006

40

Office & Factories

Head offices Pugu Road, Chang'ombe, Dar Es Salaam Tanzania

Branches None

Company Profile

Paid in Capital TZS. 20,000,000

Subscribed Capital TZS. 20,000,000

Shareholders

Name Position Amount Ratio

Mr. Niraj Shah Director

Mr. Sunil Patel Director

Mr. Kunal Shah Director

Total 100.00%

Credit Opinion

Our proposed credit amount of USD 80,000 is recommendable

Affiliated Companies

Company (1) PLASTEC LTD

Management/ Directors

President/ CEO (1)
Name	Mr. Niraj Shah
Remarks	Top Decision Maker

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 & Distributors of Plastic products etc

Terms of payment

Buying terms 30% in cash, 70% on credit

Selling terms 50% in cash, 50% on credit

Suppliers

Various

Customers

Local agencies, stores and outlets

Recent Sales

TZS. 2,800,000,000 (2006)

Exports

None

Export Ratio 0.0%

Import Ratio 20.0%

Domestic Market Share 15.0%

Banking relationship

Main Banks CRDB Bank

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 60,000 outstanding at any one time.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions