MIRA
INFORM REPORT
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Report Date : |
13.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
RANGVET PLC |
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Registered Office : |
Ker 20 Hn 2250, P. O.
Box 62669 Kef 17 Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
1997 |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Importers and
wholesalers of agricultural and veterinary products and equipment. |
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 : |
BIRR
500,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
RANGVET PLC
ADDRESS
Street : Ker 20 Hn 2250
P.O. Box :
62669 Kef 17
Town : Addis Ababa
Country : Ethiopia
Telephone :
(251 11) 661 5028
Fax : (251 11) 661 5028
E-Mail : rangvet@telecom.net.et
SENIOR COMPANY
PERSONNEL
Name Position
Abebe Wandinu Managing Director
Total Employees
10
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Ethiopian importers.
Opinion on maximum credit
: BIRR 500,000
Trade risk assessment : Normal
Opinion on the credit
figure of US DLRS 10,000 :
We consider the above
figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME :
AWASH INTERNATIONAL BANK SC
Branch :
Main
Street :
Bole Road
PO Box :
12638
Town :
Addis Ababa
Telephone : (251 11) 614482-85
Fax :
(251 11) 614477
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : US DLRS 3,000,000 - 2006 - exact
Net Profit :
not given but stated to be 30 % on average
LEGAL STATUS AND
HISTORY
Date Started : 1997
History : The company was incorporated in
Ethiopia in 1997.
Capital : not given
Private Limited Liability
Company with the following shareholders :
1. Abebe Wandinu
2. Other members of the
Wandinu family
Affiliated companies of
Rangvet Plc :
Associates
Rang Engineering PLC
Addis Ababa
ACTIVITIES
The Company is involved
in the following activities :
Importers and wholesalers
of agricultural and veterinary products and equipment.
Imports from The
Netherlands, France, India and China.
FACILITIES
The Company has the
following facilities :
103 sq. m. of rented
offices located at the heading address and another office and warehouse
elsewhere in Addis Ababa.
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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