MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
DAT INTERNATIONAL TRADING PLC |
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Registered Office : |
Woreda 08 Kebele 06, House No. 702, P.O. Box: 34738, Addis Ababa, Ethiopia |
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Country : |
Ethiopia |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
031529/96 (License No.) |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers, wholesalers and retailers of veterinary and human
pharmaceutical products, medical supplies and equipment, chemicals and
laboratory supplies. |
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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMAPNY NAME
DAT INTERNATIONAL TRADING
PLC
ADDRESS
Street : Woreda 08 Kebele 06, House No. 702
P.O. Box :
34738
Town : Addis Ababa
Country : Ethiopia
Telephone :
(251 11) 276 4071 / 276 4072
Fax : (251 11) 275 1754
E-Mail : datint@ethionet.et
SENIOR COMPANY PERSONNEL
Name Position
Dr Lakew Tenaye Managing
Director
Total Employees : 36
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 200,000
Trade risk assessment : Normal
Opinion on the credit
figure of US DLRS 10,000 / D/A terms :
We consider the above
figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME :
DASHEN BANK
Branch :
Main Branch
PO Box :
12752
Town :
Addis Ababa
Telephone : (251 11) 465 0743 / 465 0286
Fax :
(251 11) 465 3037
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover :
BIRR 15,000,000 - 2005 - exact
: BIRR 25,000,000 - 2006 - exact
Net Profit :
not given - 2005
: BIRR 10,000,000 - 2006 - exact
Financial year ends 7
July.
LEGAL STATUS AND HISTORY
Date Started : 1998
C.R. No. : 031529/96
(License No.)
Paid up Capital : BIRR
3,000,000 (increased from BIRR 1,500,000 in 2006)
Private Limited Liability
Company with the following shareholders :
Percentage
1. Dr Lakew Tenaye 90 %
2. Wife of the above 10
%
Affiliated companies of Dat International Trading PLC
:
Associates
Amanda Trading (Pvt) Ltd
Addis Ababa
ACTIVITIES
The Company is involved
in the following activities :
Importers, wholesalers
and retailers of veterinary and human pharmaceutical products, medical supplies
and equipment, chemicals and laboratory supplies.
Subject also will start
importing pesticides and herbicides in the near future.
Imports from South Korea,
India, Malaysia, Pakistan, Turkey and Egypt.
FACILITIES
The Company has the
following facilities :
Offices, wholesale outlet
and storage facilities located at the heading address.
Subject has further 5 retail
outlets, one in Addis Ababa and 4 in other parts of the country.
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%)