MIRA
INFORM REPORT
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Report Date : |
23.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
RENI
INTERNATIONAL LTD |
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Registered Office : |
Plot No |
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Country : |
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Date of Incorporation : |
6.09.2001 |
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Com. Reg. No.: |
116714 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributors of Plastic
products mainly Water Pipes and Pumps |
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: RENI INTERNATIONAL LTD
Requested Name: RENI
INTERNATIONAL
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
No
Postal Address: P.o
Country:
Phone: 255-22-2122221/2126486
Fax: 255-22-2122221/717399266
Email: reni@bol.co.tz, ketankilpadi@gmail.com,
Website: none
CREDIT OPINION & RISK RATING
ASSESSMENT
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments. We recommend Credit of USD 100,000 on 90
days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6-09-2001
Reg. Number: 116714
Nominal Capital TZS 10,000,000
Subscribed Capital TZS 10,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Ketan Kilpadi MD/ CEO
Mr.
P Dipak Director
Mr.
Santosh Joshi Director
RELATED COMPANIES
Shubashri services Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as distributors of plastic
products mainly water pipes and pumps
Imports: Materials from
Exports:
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customers: firms ,
distributors, supermarkets and outlets
Employees: 10 employees.
Vehicles: Several motor
vehicles.
Territory of sales:
Location: Rented
premises,500 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported:
Approx. Ex. Rate: 1 US Dollar = 1250
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: HABIB
AFRICAN BANK,
Branch:
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
The parent company is
located in
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. Correct name is RENI International.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.47.39 |
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1 |
Rs.70.65 |
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Euro |
1 |
Rs.66.33 |
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%)