MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
POLYFOAM LTD |
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Registered Office : |
P. O. Box 945 Arusha |
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Country : |
Tanzania |
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Date of Incorporation : |
26/11/ 1988 |
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Com. Reg. No.: |
15956 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Manufacturers of
PolyFoam mattresses |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
POLYFOAM LTD
Principal Address
P. O. Box 945 Arusha Tanzania
Telephone: +255-22-25016677/8
Fax: +255-22-25448236
Email: azpfl@yako.habari.co.tz
Internet: None
Established
26/11/ 1988
Registration
No. 15956 Arusha Tanzania
Legal Form
Limited Liability
Company
Stock Listing
Not Listed
Workforce
2006
60
Office & Factories
Head offices Block E, Plot 156, Unga Limited, Street, Arusha, Tanzania
Branches None
Company Profile
Paid in Capital TShs. 1,000,000
Subscribed Capital TShs. 2,000
Shareholders
Name Position Amount
Ratio
Mr. Binesh
NathalaL Haria Director
M’s Rina Haria Director 1 100.00%
Total 1 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) A TO Z TEXTILE
MILLS LIMITED
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Binesh Nathalal Haria |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
M’s Rina Haria |
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 of
PolyFoam mattresses
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Dodhia Packaging Ltd
Customers
Local chain stores and
outlets
Recent Sales
TSHS. 4,000,000,000
Exports
None
Export Ratio 0.0%
Import Ratio 20.0%
Domestic Market Share 30.0%
Banking relationship
Main Banks Stanbic 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
No shares of the company have been issued as yet but the Nathalal Shah family controls company
Maximum credit we recommend is USD 100,000 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%)