MIRA
INFORM REPORT
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Report Date : |
22.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
FALCON INDUSTRIES LTD |
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Registered Office : |
P. O. Box 6581 Dar es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
16/5/1998 |
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Com. Reg. No.: |
10115 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufactures of
plastic containers, products etc. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
FALCON INDUSTRIES LTD
Principal Address
P. O. Box 6581 Dar es Salaam Tanzania
Telephone: +255-22-2842305/6
Fax: +255-22-2865504
Email: husfaz@cats-net.com
Internet: None
Established
16/5/1998
Registration
No. 10115 Dar
es Salaam Tanzania
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
100
Office & Factories
Head offices Plot No 178 Kipawa Industrial Area, Dar Es Salaam, Tanzania
Branches None
Company Profile
Paid in Capital TZS. 10,000,000
Subscribed Capital TZS. 10,000,000
Shareholders
Name Position Amount
Ratio
Mr. S Hirsham Director
Mr. M hamish Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 50,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/ CEO (1) |
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Name |
Mr. S Hirsham |
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Remarks |
Top Decision Maker |
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President/ CEO (2) |
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Name |
Mr. M Hamish |
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
Manufactures of
plastic containers, products etc
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None Stated
Customers
Public and
industries
Recent Sales
TZS.
2,500,000,000 (2006)
Exports
None
Export Ratio 0.0%
Import Ratio 70.0%
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
Maximum credit we recommend is USD 50,000 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%)