MIRA
INFORM REPORT
|
Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
New Mwanza Hotel, |
|
|
|
|
Country : |
Tanazania |
|
|
|
|
Date of Incorporation : |
10/9/1998 |
|
|
|
|
Com. Reg. No.: |
No. 12297Mwanza, |
|
|
|
|
Legal Form : |
Limited Liability company, Limited by shares |
|
|
|
|
Line of Business : |
Casinos |
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 |
|
Maximum Credit Limit : |
USD 35,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY NAME
Address
Telephone: +255 -28-2501065/ +255-744312664
Fax: +255 -28-2501068
Email: alon@kingscasino.co.tz
Internet: www.kingscasino.co.tz
Established
10/9/1998
Registration
No. 12297Mwanza,
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
30
Office &
Factories
Head offices New Mwanza Hotel,
Branches None
Company Profile
Paid in Capital TZS. 20,000,000
Subscribed Capital TZS. 20,000,000
Shareholders
Name Position Amount
Ratio
Mr. K Mark Director
Mr. S John Director
Xaax Entertainment Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 35,000 is recommendable
Affiliated
Companies
None
Management/
Directors
President/ CEO (1)
Name Mr. K Mark
Remarks Top Decision Maker
Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Casinos
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 90% in cash, 10% on credit
Suppliers
None
Customers
Public
Recent Sales
TZS.
500,000,000 (2006)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market
Share
30.0%
Banking
relationship
Main Banks CRDB Bank
Credit Check of
Subject, President & CEO (as of report date)
Payment Morale: In the documents at our disposal
nothing adverse has been shown so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 35,000 outstanding at any one time.
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. |
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%)