MIRA
INFORM REPORT
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Report Date : |
11.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAPLAN AND STRATTON |
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Registered Office : |
9th Floor Williamson Gouse 4th Ngong Avenue, Upper Hill Nairobi |
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Country : |
Kenya |
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Year of Establishment : |
1946 |
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Com. Reg. No.: |
7121 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Advocates, Solicitors ,
Public Notaries and Other Legal Services |
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 |
SUBJECT'S NAME
Registered Name: KAPLAN AND STRATTON
Requested Name: KAPLAN
AND STRATTON
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: 9th
Floor Williamson Gouse 4th Ngong Avenue
Upper Hill
Nairobi, Kenya
Postal Address: P.o Box 40111
Nairobi
Country: Kenya
Phone: 254-20-2841000/2733919
Fax: 254-20-2734667
Email: info@kaplanstratton.com
Website: www.kaplanstratton.com
CREDIT OPINION & RISK RATING
ASSESSMENT
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 1946
Reg. Number: 7121
Nominal Capital KES 150,000,000 Divided into
Shares 7,500,000 each 20
Subscribed Capital KES 150,000,000
Paid Up Capital KES 150,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Inderjit Talwar MD/CEO 2,500,002
Mr.
Vishisht Talwar Director
Mr.
Jaspaul Singh Kandhari Director
Mr. Sat Pal Punja Director
Mr. Maina Makoma Director
Mr.
Pritpal Kandhari Director
Dr.
Frank Njenga Director
Mr.
Maurice Dantas Director
Mr. Nigel Shaw Director
Canon
Holding Ltd Shareholder 2,999,998
Evisa Inv. Pvt Ltd Shareholder 2,000,000
RELATED COMPANIES
Canon Holding Ltd Parent company.
None Subsidiary company.
Canon managers Ltd
Assurance Kenya Ltd
Asilia Ltd
Imani Ltd
Wastan Ltd
Grens Ltd
Endosha Ltd
Equatorial Resorts Ltd Affiliated company.
None Shareholder of subject firm.
Various offices in East Africa Branches of the firm
OPERATIONS
Registered to operate as advocates, solicitors ,
public notaries and other legal services
Imports: None
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 20 days (60%), invoices.
Main Customers: various
Employees: 15
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Kenya
Location: Owned
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Deloitte & Touche
Insurance Brokers: Assurance Kenya
Ltd
FINANCE
Currency Reported: Kenya Shillings (KES)
Approx. Ex. Rate: 1 US Dollar = 79.24 Kenya Shillings
Fiscal Year End: December
31, 2007
Inflation: According to information
given by independent sources, the inflation at December 31st, 2007 was of
13%.
Financial Information Not Submitted
BANK
Bank Name: Standard and Chartered Bank
Kenya Ltd
Branch: Nairobi, Kenya
Enquiry Amount: 100,000
Terms: 90 days
Bank Code: Code
-C which means good for normal Business Engagements
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
CHECK
INSOLVENCIES
The checks have been
made on: The company
and partners
PROTESTS
AND NEGATIVE ELEMENTS
The company and its officers have been checked at the
Registries of companies and with the judicial local facilities.
PROTESTS RECORDED
No protests in the name of the company and its
officers, No protests on the associated concerns, No protests on shareholders/partners,
Check on Prejudicial Events as per Commercial Court office
NEGATIVE ELEMENTS
Researches effected
concerning possible prejudicial events
in the name of the company
revealed: No negative elements since 01/01/2000
Date of the check on protests and prejudicial events:
10/12/2008
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.52 |
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UK Pound |
1 |
Rs.72.62 |
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Euro |
1 |
Rs.63.76 |
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%)