MIRA
INFORM REPORT
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Report Date : |
3rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
MABATI
ROLLING MILLS |
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Registered Office : |
P.O. Box: 78162, Nairobi 00507, Kenya |
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Country : |
Kenya |
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Date of Incorporation : |
18.10.1961 |
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Com. Reg. No.: |
C5082 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers, exporters, manufacturers, wholesalers and distributors of cold rolled steel products. |
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 : |
K Shs 15,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No
Complaints |
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Litigation : |
Clear |
COMPANY NAME
MABATI ROLLING MILLS
ADDRESS
P.O. Box : 78162
Town :
Nairobi 00507
Country :
Kenya
Telephone : (254 20) 642 7000 / 7222 05164 / 7336 22068
/ 6427000 / 822758
Fax :
(254 11) 315223
E-Mail :
mabati@net2000ke.com
SENIOR COMPANY PERSONNEL
Name Position
1. Manu Chandaria Chairman
2. Kaushik Shah Chief
Executive Officer
2. Satish Sawhney Managing
Director
Total Employees : 950
PAYMENTS
No complaints have been heard regarding payments from local
suppliers or banks.
Subject is a well established family owned company operating since
1982.
We consider it is acceptable to deal with subject for MEDIUM
amounts, although it is normal accepted practice for international suppliers to
deal on secured terms with Kenyan importers.
Opinion on maximum credit :
K Shs 15,000,000
Trade risk assessment :
Normal
PRINCIPAL BANKERS
NAME : BARCLAYS BANK OF KENYA LTD
Branch : Nkrumah Road
P.O. Box : 90260
Town : Mombasa
Telephone : (254 11)
220921
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject
interviewed offered the following
information :
Sales Turnover :
K Shs 1,200,000,000 - 1998 - approx
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K Shs 1,300,000,000 - 1999 - approx
: not given - 2000 - 2004
: K Shs 800,000,000 - 2005 - exact
Net Profit : K Shs 5,000,000 - 1998 - approx
: not given 1999 - 2004
LEGAL STATUS AND HISTORY
Date Started : 18 October 1961
History : The company was incorporated in Kenya on 18 October
1961. Until December 2005 shareholders were Clovish Company (Bermuda) Ltd and Castronol Holding Ltd.
C.R. No. :
C5082
Authorised Capital :
K Shs 125,000,000 divided into 6,250,000 shares of K Shs 20 each)
Authorised & Paid up Capital :
K Shs 91,919,600
Subject is a Limited Liability Company with the following sole
shareholder :
SAFAL Investment (Mauritius) Private Limited 100 %
Affiliated companies of Mabati Rolling Mills :
Associates
Affiliated companies of Mabati Rolling Mills Ltd :
1. Steel Africa Ltd
Old Kalou Road
Industrial Area
P.O. Box : 78161
Nairobi
Telephone :
(254 2) 555099 / 555080 / 555092 / 540250
Fax : (254 2) 543829
E-Mail : insteeel@net2000ke.com
2. Galsheet (K) Ltd
Haile Salassie Avenue
P.O. Box : 46934
Nairobi
Telephone :
(254 2) 335919
Fax : (254 2) 541691
Manufacturers of galvanised
and prepainted corrugated iron roofing
sheets.
3. Signal Kenya Ltd
Nairobi
4. Galaxy Paint Co Ltd
Kitui Rd
Nairobi
Tel : (254 2) 544758
Manufacturers of
decorative, industrial and auto paints under
licence of Nippe Auto Lacquer.
5. Kaluworks Ltd
Kitui Road
Industrial Area
P.O. Box : 18388
Nairobi
Telephone :
(254 2) 531480
Fax : (254 2) 542478 / 540290
ACTIVITIES
The company is involved in the following activities :
Importers, exporters, manufacturers, wholesalers and distributors
of cold rolled steel products.
Production capacity : 100,000 tonnes per year
Imports from South Africa.
Exports to Uganda, tanzania, Sudan, Ethiopia, Zambia, Madagascar,
Zimbabwe and Rwanda.
FACILITIES
The Company has the following facilities :
Office premises at the heading address and manufacturing plant
with storage facilities in Mombasa (Marikani Factory) P.O.Box 68. Subjet also
has another office at Old Mombasa Road, P.O. Box 271
Athi River.
BRANCH OFFICES
1. Old Mombasa Road,
P.O. Box 271 Athi River
00204
Tel : (254 45) 22491
Fax : (254 45) 22363
2. Nkrumah Rd
P.O. Box 87547
Mombasa
SPECIAL NOTE
The address which you provided applies subject's branch office
address. Please note the head office address is as per heading.
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/normal. |
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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