MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
REVITAL HEALTHCARE (EPZ) LTD |
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Registered Office : |
Zois Epz, P. O. Box 80713 - 80100, Mombasa, Mtwapa, Kilifi |
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Country : |
Kenya |
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Date of Incorporation : |
2006 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Manufacturers of plastic disposable syringes. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
K Shs 2,000,000 |
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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
REVITAL HEALTHCARE (EPZ)
LTD
ADDRESS
Area : ZOIS EPZ
P.O. Box :
80713 - 80100, Mombasa
Town : Mtwapa
District :
Kilifi
Country : Kenya
Telephone :
(254 41) 222 8962 / 222 9481
Fax : (254 41) 222 9819 / 222 8963
SENIOR COMPANY
PERSONNEL
Name Position
1. Rajnikant C. Vora Managing
Director
2. Niraj Kumar Technical Manager
Total Employees
95
PAYMENTS
Subject is a recently
founded company and therefore it has no payment track record.
Associations
inspire confidence and we consider it is acceptable to deal with subject for
SMALL amounts, although in view of the subject's recent establishment
international suppliers may wish to exercise a measure of caution where larger
or protracted dealings are envisaged.
Opinion on maximum credit
: K Shs 2,000,000 (due attention will be given to above remarks).
Trade risk assessment :
Normal (see above comments)
It is normal accepted
practice for international suppliers to deal on secured terms with Kenyan
importers.
PRINCIPAL BANKERS
NAME :
BARCLAYS BANK OF KENYA LTD
Branch : Nkrumah Road branch
PO Box :
90182 Mombasa
Town :
Mombasa
Telephone : (254 41) 311660 / 311663
Fax :
(254 41) 314477 / 311253
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information
which applies to the group :
Sales Turnover : US DLRS 5,000,000 - 2006 - exact
Net Profit :
not given
LEGAL STATUS AND
HISTORY
Date Started : 2006
Capital : not given
Private Limited Liability
Company with the following shareholders :
Rajnikant C. Vora
Affiliated companies of
Revital Healthcare (EPZ) Ltd :
Associates
Other members of the Vora
family operate and own also the following companies :
1. D.Chandulal K Vora Ltd
Tanzania
2. Rajnikant C. Vora
& Co Ltd
P.O.Box 80713-80100 Mombasa
Mombasa
Kenya
3. Revital Pharma Ltd
Tanzania
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers of plastic
disposable syringes.
Imports from Asian
countries.
FACILITIES
The Company has the
following facilities :
Leased plot of land with
manufacturing units, storage facilitiies and offices 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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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%)