MIRA
INFORM REPORT
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Report Date : |
21st
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
BREEZES
BEACH CLUB & SPA |
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Registered Office : |
1361, Bwenju Village, Zamzibar,
Tanzania |
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Country : |
Tanzania |
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Date of Incorporation : |
November
1997 |
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Line of Business : |
Operators
of a luxury holiday resort comprising 70 rooms, including 40 suites |
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 : |
TAN
Shs 65,00,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
BREEZES BEACH CLUB & SPA
(Correct)
BREEZES BEACH CLUB (Requested)
ADDRESS
P.O. Box : 1361
Town : Bwenju Village
Islands : Zamzibar
Country : Tanzania
Telephone : (255 774) 440 883
/ 440 884 / 440 885 / (255 24)
224 0102 / 224 0467
Fax : (255 24) 224 0450
E-Mail : info@breezes-zanzibar.com
SENIOR COMPANY PERSONNEL
Name Position
1. Penneby Raguz Director
2. Ante Raguz Director
3. Sujit Shah Sales
Director
(based
in Sweden)
3. Miro A. Dinic General
Manager
Total Employees : 7
(administrative)
PAYMENTS
No complaints have been heard
regarding payments from local suppliers or banks.
Subject is a family owned holiday
resort in business since 1997.
We consider it is acceptable to
deal with subject for SMALL amounts, however in view of the lack of financial
information, we recommend as a matter of caution international suppliers to
exercise a degree of caution.
Opinion on maximum credit : TAN
Shs 65,00,000 (higher amounts may be considered with full fiscal disclosure)
Trade risk assessment : Normal
It is normal accepted practice
for international suppliers to deal on secured terms with Tanzanian importers.
PRINCIPAL BANKERS
Subject declined to name its
bankers.
FINANCIAL INFORMATION
Balance sheets are not available
and the subject interviewed declined to give any financial information, which
the company regards as strictly confidential.
LEGAL STATUS AND HISTORY
Date Started : November 1997
Capital : not given
Subject is not a legal entity but
a holiday resort owned by the Raguz family.
ACTIVITIES
The Company is involved in the
following activities :
Operators of a luxury holiday
resort comprising 70 rooms, including 40 suites.
Subject is a winner of Best
Resort in Tanzania.
FACILITIES
The Company has the following
facilities :
Luxury hotel, four restaurants,
five bars, one spa, shopping Bazaar, fitness & aerobics center, marine
activities center, scuba diving center and administrative offices located at
the heading address. The resort also has representative offices in Kenya and
Sweden (see "branch Office" below).
BRANCH OFFICES
Reservations Office
P. O. Box 34187
Nairobi
Kenya
Tel : (254 20) 272 0835 / 272 9333 / 272 8826 Fax : (254 20) 272
3513
Email : info@breezes-zanzibar.com
Europe Sales & Marketing
Office
Radmansgatan 27
Se-11425
Stockholm
Sweden
Tel : (46 70) 979 5999
Fax : (46 8) 813 322
Email : sujit@breezes-zanzibar.com
SPECIAL NOTE
You enquired on : BREEZES BEACH
CLUB.
Please note the correct name 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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