MIRA
INFORM REPORT
|
Report Date : |
16.06.2007 |
IDENTIFICATION DETAILS
|
Name : |
APPLIED TECHNOLOGY LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
2007 (Projected) |
|
|
|
|
Date of Incorporation : |
1994 |
|
|
|
|
Com. Reg. No.: |
206004 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Importers and Distributors of Wines, Coffee and Milk |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
APPLIED TECHNOLOGY LTD
ADDRESS
Street :
P.O. Box : 7094
Town :
Country :
Telephone : (255 22) 270 0174
/ (255 75) 487 4632 (mobile)
Fax : (255 22) 270 0797
E-Mail : aleria@aleria.com / aleria@raha.com
SENIOR COMPANY
PERSONNEL
Name Position
1. Eddy Verspeelt
Managing Director
2. Shakar Raddy General Manager
Total Employees
35
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 Tanzanian importers
Opinion on maximum credit : TAN Shs 100,000,000
Trade risk assessment :
Opinion on the credit figure of
The above figure is higher than normally
seen in one amount, however could prove admissible if split into two
transactions provided the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME : KENYA COMMERCIAL BANK (T) LTD
Branch : Audit House
PO Box : 804
Town :
Telephone : (255 22) 211
5358 / 211 5388-90
Fax : (255 22) 211 5391
Subject has also accounts with the following banks:
1. Kenya Commercial Bank LTD
(KCB)
Audit House
PO Box : 804
Telephone : (22) 211 5358 / 211 5388-90
Fax :
(22) 211 5391
2. Barclays Bank Tanzania Limited
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed
offered the following information :
Sales Turnover : US DLRS 1,600,000 - 2003 - exact
: US DLRS 2,000,000 - 2004 -
exact
: US DLRS 3,500,000 - 2005 -
exact
: US DLRS 3,500,000 - 2006 -
exact
: US DLRS 4,000,000 - 2007 -
projected
Net Profit : US DLRS 112,000 - 2003 - exact
: US DLRS 140,000 - 2004 - exact
: US DLRS 250,000 - 2005 - exact
: not given - 2006
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : 1994
History : Subject was
established in 1994. In Decembre 2006 Caroline Bedleen became shareholder with
Jisus Relas and Eddy Verspeelt.
C.R. No. : 206004
VAT No. : 10-005522-G
TIN No. : 100-142-783
Capital : US DLRS
500,000
Limited Liability Company with the following sole shareholder :
1. Jisus Relas
2. Eddy Verspeelt
3. Caroline Bedleen
Affiliated companies of Applied Technology Ltd :
Associates
Aleria Enterprises Ltd
Tel: (255 22) 270 0174
Fax: (255 22) 270 0797
E-Mail: aleria@aleria.com
Main shareholder :
Eddy Verspeelt
Distributors of kitchen accessories and equipment
ACTIVITIES
The Company is involved in the following activities :
Importers and distributors of wines, coffee and milk.
Brand names : Freixenet and Paul & Hugo De Villiers.
Imports from
Subject suppliers also include:
- landskroonwines
(218) 631 039
hugo@landskroonwines.com
- Westcorp International
fanie.augustyn@westcorp.co.za
- Afrique Interlink Ltd
sales@afrique-interlink.com
- KWB
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices and warehousing
facilities located at the heading address.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)