MIRA
INFORM REPORT
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Report Date : |
07.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
KNITWEAR INDUSTRIES LTD |
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Registered Office : |
P O Box 355 Blantyre |
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Country : |
Malawi |
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Date of Incorporation : |
01.09.1981 |
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Com. Reg. No.: |
No. 21905
Blantyre, Malawi |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacture and
Distribution of Textile Fabrics and Garments |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
KNITWEAR INDUSTRIES
LTD
Principal Address
P.o Box 355 Blantyre, Malawi
Telephone: +265-18842374/1671153
Fax: +265-1671380
Email: desco@malawi.net
Internet: www.knitwearexports.com
Established
1/9/1981
Registration
No. 21905
Blantyre, Malawi
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
100
Office & Factories
Head offices 128 Kidney Crescent Blantyre, Malawi
Branches none
Company Profile
Paid in Capital MWK. 1,000,000
Subscribed Capital MWK. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Kantilal Desai CEO 100.00%
Mr. Munjal Desai Director
Total 100.00%
Affiliated Companies
none
Management/ Directors
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President/ CEO (1) |
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Name |
Mr. Kantilal Desai |
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Work Experience |
24 years in this line of business |
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Remarks |
Top Decision Maker |
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
Manufacture and
distribution of textile fabrics and garments
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Distributors, stores etc
Recent Sales
MWK. 320,000,000
(2007)
Exports
Europe, AGOA
countires
Export Ratio
80.0%
Import Ratio
20.0%
Domestic Market Share
10.0%
Banking relationship
Main Banks National 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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.00 |
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UK Pound |
1 |
Rs. 82.14 |
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Euro |
1 |
Rs. 65.09 |
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%)