MIRA
INFORM REPORT
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Report Date : |
24.10.2007 |
IDENTIFICATION DETAILS
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Name : |
MAYFAIR CASINO & CLUB |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
No.
11478 |
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Legal Form : |
Limited Liability company, Limited by shares |
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Line of Business : |
Casino |
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 : |
USD 50,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
MAYFAIR CASINO & CLUB
Address
Telephone: +254-20-374330
Fax: +254-20-374334
Email: myfrcas@africaonline.co.ke
Internet:None
Established
1996
Registration
No. 11478
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
50
Office &
Factories
Head offices Holiday inn, Westlands,
Branches None
Company Profile
Paid in Capital KSHS. 1,000,000
Subscribed Capital KSHS. 1,000,000
Shareholders
Name Position Amount
Ratio
Moraglia Antonio Director 50.00%
Lorenzo Ventura Director 50.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 50,000 is recommendable
Affiliated
Companies
Management/
Directors
President/ CEO (1)
Name Moraglia Antonio
Remarks Top Decision Maker
President/ CEO (2)
Name Lorenzo Ventura
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
Casino
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms 90% in cash, 10% on credit
Suppliers
None
Customers
Local agencies ,
stores and outlets
Recent Sales
KSHS.
220,000,000 (2006)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market
Share
30.0%
Banking relationship
Main Banks SCB 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 50,000 outstanding at any one time.
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. |
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%)