MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
SARA LEE KENYA LIMITED |
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Formerly Known As : |
KIWI BRANDS LTD |
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Registered Office : |
P.O Box 30452 - 00100 GPO Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
20.11.1961 |
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Com. Reg. No.: |
5105 Kenya |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacturer of high-quality, household brand-name products eg shoe
care, body care, baby care, sportswear, furniture care, packaged meat,
detergents, bakery products, coffees and teas general consumable items. |
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 |
name & address
SARA LEE KENYA LIMITED
Former Name
KIWI BRANDS LTD
Principal Address
P.o Box 30452 - 00100 GPO Nairobi, Kenya
Telephone: +254-20-8561602/ 3635000
Fax: +254-20-8561575
Email: akassam@saralee.co.ke
Internet: www.saralee.co.ke
Established
20/11/1961
Registration
No. 5105 Kenya
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
200
Office & Factories
Head offices Outer
Ring/Thika Road Ruaraka Nairobi Kenya
Branches Malawi, South Africa, Zimbabwe, Zambia
Company Profile
Paid in Capital KSHS. 2,000,000
Subscribed Capital KSHS. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. David Gibson Philips CEO
Mr. M. Daglon Director
Mr. Amirali Rishnali Kassam Director
Sara Lee
Corporation Holding
Company 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) sara lee malawi
Company (2) SARA LEE SOUTH AFRICA
Company (3) SARA LEE ZIMBABWE
Company (4) SARA LEE ZAMBIA
Management/ Directors
President/ CEO (1)
Name Mr. David Gibson
Philips
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
M. Daglon
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
Manufacturer of
high-quality, household brand-name products eg shoe care, body care, baby care,
sportswear, furniture care, packaged meat, detergents, bakery products, coffees
and teas general consumable items.
Terms of payment
Buying
terms 30% in cash, 70% on credit
Selling
terms 80% in cash, 20% on credit
Suppliers
None
Stated
Customers
Local agencies , stores and
outlets
Recent Sales
KSHS.
1,800,000,000 (2007)
Exports
None
Export Ratio
0.0%
Import Ratio
60.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks Barclays Bank
Standard Chartered
Bank
Citibank Na
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.
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%)