MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ROMAGECO ( |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1989 |
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Com. Reg. No.: |
39898 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers, assemblers, retailers and distributors of 4 wheel drive and
commercial vehicle equipment, spare parts and accessories. |
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 5,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
ROMAGECO (
ADDRESS
Street :
Area : Industrial Area
P.O. Box :
43486
Town :
Country :
Telephone :
(254 20) 553 151 / 552 168 / 544 285 / (254) 733 601 962 / 733 621 883
(mobile)
Fax : (254 20) 534 686 / 559 242 / 530 571
E-Mail : robsmagic@form-net.com
SENIOR COMPANY
PERSONNEL
Name Position
1. Rob Collinge Managing Director
2. Dinesh Patel General Manager
3. M. Matha Financial Controller
Total Employees
75
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
Kenyan importers.
Opinion on maximum credit
: K Shs 5,000,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME :
BARCLAYS BANK OF KENYA LIMITED
Branch :
Bank House
Town :
Telephone : (254 20) 332 230
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover :
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US DLRS 1,400,000 - 2000 - exact
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US DLRS 2,000,000 - 2001 - approx
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not given - 2002 -
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US DLRS 3,500,000 - 2003 - exact
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US DLRS 4,000,000 - 2004 - exact
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US DLRS 4,500,000 - 2005 - exact
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US DLRS 6,000,000 - 2006 - exact
Net Profit :
not given but stated to be profitable
Financial year ends 30
June.
LEGAL STATUS AND
HISTORY
Date Started : 1989
History : The company was established in
1989.
C.R. No. : 39898
Capital : not given
Private Limited Liability
Company with the following shareholders :
1. Rob Collinge
2. The mother of Rob
Collinge
Affiliated companies of
Romageco Kenya LTD :
Associates
Rob's Magic
Activities: car fitting
Same address as per
heading
ACTIVITIES
The Company is involved
in the following activities :
Importers, assemblers,
retailers and distributors of 4 wheel drive and commercial vehicle equipment,
spare parts and accessories. Parts include foot steps, cow bars (bull bar),
dampers and shock absorbers.
The company is the best
known suspension systems converter in
Distributors for TJM
Products (Pty) Ltd (
Imports from
Exports to worldwide.
FACILITIES
The Company has the
following facilities :
Office, workshop, retail
outlet with integrated storage facilities located at the heading address.
Subject has two branches
situated elsewhere
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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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%)