MIRA
INFORM REPORT
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Report Date : |
06.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
WINES OF THE WORLD |
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Registered Office : |
P. O. Box 61479, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
21.2.1997 |
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Com. Reg. No.: |
75024 Kenya |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Retailers of Mkate, food stuffs |
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 80,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
WINES OF THE WORLD
Principal Address
P. o Box 61479, Nairobi, Kenya
Telephone: +254-20-4343440/5
Fax: +254-20-443428/401
Email: swaithaka@wines.co.ke
Internet: www.wines.co.ke
Established
21/2/1997
Registration
No. 75024 Kenya
Legal Form
Limited Liability Company,
Limited by shares
Stock Listing
Not Listed
Workforce
2007
60
Office & Factories
Head offices Mandera Road, Kileleshwa, Nairobi, Kenya
Branches Bamburi, Mombasa
Company Profile:
Paid in Capital KSHS. 20,000,000
Subscribed Capital KSHS. 20,000,000
Shareholders
Name Position Amount Ratio
Mr. Stuart Herd CEO 1,000,000 50.00%
Mr. Humphrey
Kariuki Director 1,000,000 50.00%
Total 2,000,000 100.00%
Credit Opinion
Our proposed credit amount of USD 80,000 is recommendable
Affiliated Companies
Company (1) EQUITEA EPZ
COMPANY LIMITED
Company (2) GREEN CORNER
RESTAURANT
Company (3) KUWINDA HOLDINGS
LIMITED
Company (4) LIVINGSTONE TEA
DISTRIBUTORS LTD
Company (5) TWIGS RESTAURANT
Management/ Directors
President/ CEO (1)
Name Mr. Stuart Herd
Work
Experience 10 years in this
line of business
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Humphrey Kariuki
Work
Experience 10 years in this line
of business
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
Retailers of
Mkate, food stuffs etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various Beer and wine companies around the world
Customers
Local Supermarkets ,Distributors,
Chain stores and outlets
Recent Sales
KSHS. 280,000,000
(2007)
Exports
Neighboring
Countries
Export Ratio
< 10.0%
Import Ratio
80.0%
Domestic Market Share
30.0%
Banking relationship
Main Banks Kenya Commercial Bank
Auditors
MANOHAR LALL & RAI
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
Satisfactory.
COMMENTS
Maximum credit we recommend is USD 80,000 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%)