MIRA
INFORM REPORT
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Report Date : |
26.10.2007 |
IDENTIFICATION DETAILS
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Name : |
DESBRO KENYA LIMITED |
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Registered Office : |
P. O |
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Country : |
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Date of Incorporation : |
24/8/1954 |
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Com. Reg. No.: |
3018 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Imports
Industrial chemicals, plastic and chemical raw materials |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
DESBRO KENYA LIMITED
Principal Address
P. O
Telephone: 254-20-542196/97 & 350744/45
Fax: 254-20-542147/ 543791
Email: info@desbrokenya.com
Internet: www.desbrogroup.com
Established
24/8/1954
Registration
No. 3018
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
60
Office &
Factories
Head offices
Branches
Company Profile
Paid in Capital KSHS. 10,000,000
Subscribed Capital KSHS. 10,000,000
Shareholders
Name Position
No. of shares Ratio
Mr. Suman Kumar Sennik Director 1
Mr. Ramasany Seshadri Somasundaram Director
Mr. Anish Kumar Sennik Director
Desbro Holdings (K) Limited Holding Company 99,999
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated
Companies
Several within the
Group
Company (1) Desbro Engineering Ltd
Company (2) Desbro
Company (3) Desbro Polymers Ltd
Company (4) Industrial Distributors Ltd
Management/
Directors
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President/
CEO (1) |
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Name |
Mr. Suman Kumar Sennik |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Ramasany Seshadri
Somasundaram |
Þ 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
Imports Industrial
chemicals, plastic and chemical raw materials
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Local agencies, Industries
and Companies
Recent Sales
KSHS. 620,000,000 (2006)
Exports
None
Export Ratio 30.0%
Import Ratio 20.0%
Domestic Market Share 30.0%
Banking
relationship
Main Banks Kenya Commercial
Bank Ltd
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 100,000 outstanding at any one time. |
BALANCE SHEET
ITEMS |
(In
KSHS.) |
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Inventories |
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125,000,000 |
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Assets |
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150,000,000 |
Accounts receivable - trade
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180,000,000 |
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Accounts payable - trade |
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130,000,000 |
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%)