MIRA
INFORM REPORT
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Report Date : |
19.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
METRO
PLASTICS INDUSTRIES LTD |
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Registered Office : |
P.O Box 12477, Dar es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
24/11/1983 |
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Com. Reg. No.: |
26491 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturers of
PVC pipes, plastic products etc |
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 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
METRO PLASTICS INDUSTRIES
LTD
Principal Address
P.O Box 12477, Dar es Salaam, Tanzania
Telephone: +255-22-2185131/2130309
Fax: +255-22-2182463
Email: metro.plastic@cats-net.com
Internet: None
Established
24/11/1983
Registration
No. 26491 Dar Es Salaam, Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
100
Office & Factories
Head offices Kisarawe Street, Dar Es Salaam, Tanzania
Branches Mwanza
Company Profile
Paid in Capital TZS. 60,000,000
Subscribed Capital TZS. 60,000,000
Shareholders
Name Position Amount Ratio
Mr. Harakchand
Devchand Shah CEO 15,000 50.00%
Mr. Mansoorali A
Wazir Director 15,000 50.00%
Mr. Mayur
Hakukilal Shah Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 120,000 is recommendable
Affiliated Companies
Company (1) Metro Plastics Kenya Limited
Company (2) METRO PLASTICS
(KAMPALA) LIMITED, Uganda
Company (3) UNICHEM PLASTICS
LIMITED
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Harakchand Devchand Shah |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Mansoorali A Wazir |
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
PVC pipes, plastic products etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various Companies
Customers
Agricultural industries,
construction companies etc
Recent Sales
KSHS. 4,600,000,000
(2006)
Exports
None
Export Ratio 20.0%
Import Ratio 30.0%
Domestic Market Share 40.0%
Banking relationship
Main Banks Standard Chartered
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 120,000 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%)