MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
BELAYNEH KINDIE EXPORT |
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Registered Office : |
Belay |
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Country : |
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Date of Incorporation : |
06.12.2001 |
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Com. Reg. No.: |
886020 |
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Legal Form : |
Sole Proprietorship
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Line of Business : |
Distributor & Exporters of Food products, seeds, peas,
etc |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
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Registered Name: |
BELAYNEH KINDIE
EXPORT |
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Requested Name: |
BELAYNEH KINDIE EXPORT |
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Other Names: |
None found. |
ADDRESS AND TELECOMMUNICATION
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Physical Address: |
Belay |
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Postal Address: |
P.o
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Country: |
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Phone: |
251-11-1118740 |
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Fax: |
251-11-1118607 |
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Email: |
None |
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Website: |
None |
CREDIT OPINION & RISK RATING
ASSESSMENT
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Financial Index as of
December 2007 shows subject firm with a medium risk of credit. We recommend
Credit of USD 50,000 on 90 days. |
LEGAL
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Legal Form: |
Sole Proprietorship
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Date Incorporated: |
6-Dec-01 |
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Reg. Number: |
886020 |
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Nominal Capital |
ETB.
50,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr.
Dires Gashu |
MD/
CEO |
1 |
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METB.
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Director |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
OPERATIONS
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Registered to operate as
distributor & exporters of Food
products, seeds, peas, etc |
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Imports: |
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Exports: |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
40 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Rented premises, 52.000 square feet, |
AUDITORS AND INSURANCE
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Auditors: |
Information not available. |
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Insurance Brokers: |
Information not
available. |
FINANCE
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Currency Reported: |
Ethiopian birr (ETB.) |
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Approx. Ex. Rate: |
1 US Dollar = 8 Ethiopian
birr |
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Fiscal Year End: |
December 31, 2007 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2007 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in ETB.) |
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2007 |
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Sales |
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25,000,000 |
BANK
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Bank Name: |
Dashen
bank |
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Branch: |
Addis |
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Comments: |
None |
TRADE
REFERENCES
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Experiences: |
Good |
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
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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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)