MIRA
INFORM REPORT
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Report Date : |
1st
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
GEMACO
CHEMICALS LTD. |
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Registered Office : |
Kilimani Complex, P.O. Box: 21715, Nairobi 00505, Kenya |
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Country : |
Kenya |
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Date of Incorporation : |
2005 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers and wholsalers of welding
electrodes and resins and other raw materials for industries such as
polyurethane, paint, plastic, master batch, calcium carbide and gases. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
Moderate
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
GEMACO
CHEMICALS LTD
ADDRESS
Building
: Kilimani Complex
P.O.
Box : 21715
Town : Nairobi 00505
Country : Kenya
Telephone :
(254 2) 387 0939
Fax : (254 2) 387 2450
E-Mail : gemaco@gemacochemicals.com
SENIOR COMPANY PERSONNEL
Name Position
Benjamin
Mirindi Managing Director
Total
Employees : 1 (administrative)
PAYMENTS
Current
trade experience of payments has not been traced.
The
company has declined to provide financial information or to reveal any details
relative to the extent of their operations.
Opinion
on maximum credit : In view of the above we have insufficient basis on which to
speak for unsecured credit and recommend dealing on cash or prepayment basis.
Trade
risk assessment : High
It
is normal accepted practice for international suppliers to deal on secured
terms with Kenyan 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 : 2005 (not confirmed)
Capital
: not given
Private
Limited Liability Company with the following shareholders :
1.
Benjamin Mirindi
2.
Undislclosed shareholders
Affiliated companies of Gemaco
Chemicals Ltd :
Associates
Gemaco
Chemicals Ltd
5251
B Mukwa Road
Heavy
Industrial Area
PO
Box 30365
Lusaka
Zambia
TEL : (260 1) 243 410
FAX : (260 1) 240 074
ACTIVITIES
The
Company is involved in the following activities :
Importers
and wholsalers of welding electrodes and resins and other raw materials for
industries such as polyurethane, paint, plastic, master batch, calcium carbide
and gases.
Imports
worldwide.
FACILITIES
The
Company has the following facilities :
Office
premises and warehouses located at the heading address.
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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