MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
MYANMA AUTOMOBILE AND DIESEL ENGINE INDUSTRIE |
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Registered Office : |
NO. 56, Kaba Aye Pagoda Road
Yangon |
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Country : |
Myanmar |
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Date of Incorporation : |
14.12.1980 |
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Com. Reg. No.: |
254/78-59 |
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Legal Form : |
State Owned Concern |
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Line of Business : |
Production of Light and Heavy Motor Vehicles, Component
Parts and Accessories and Multipurpose Diesel Engines,4x4 Vehicles, Trucks, and
Automotive Components |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 1,700,000.00 |
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Status : |
Good |
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Payment Behaviour : |
No complaints |
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Litigation : |
Clear |
Company
Details
Company
Name: MYANMA AUTOMOBILE AND DIESEL ENGINE INDUSTRIE
Also
Trade as: MADI
Headquarter
Address: NO. 56, KABA AYE
PAGODA ROAD
YANGON
MYANMAR
P O BOX: 370 GPO
Tel:
+95 1 650912
Fax
:
+95 1 650913
E-Mail: dmip@baganmail.net.mm
Web Site: --
Company was originally started on 1980
Registration
& Legal Details
Current
Legal Form: State Owned Concern
Registration
Address: NO. 56, KABA AYE PAGODA ROAD
YANGON
MYANMAR
Registration
Number: 254/78-59
Registration
Date: 14/12/1980
Year/Date Company Established: 14/12/1980
Capital
Currency: Myanmar Kyat ( MMK)
Nominal Capital: 7,684,000.00
Shareholders
Myanmar Government Share%: 100%
Principals
Name: Mr. U Soe Thein
Position
within the company: Managing
Director
Country
of Birth: Myanmar
Nationality: Myanmar
Can
fluently speak: English
Name: Ms. Mya
Mya Kyaw
Position
within the company: Deputy Director
Country
of Birth: Myanmar
Nationality: Myanmar
Can
fluently speak: English
Name: Ms. Thiri Khit
Position
within the company: Secretary
Country
of Birth: Myanmar
Nationality: Myanmar
Can
fluently speak: English
Company
Activities
The subject is an enterprise specializing in the production
of light and heavy motor vehicles, component parts and accessories and
multipurpose diesel
engines,4X4 vehicles, trucks, and automotive components.
The factories under MADI are
* No. (1) Automobile Factory (Yangon)
* No. (2) Automobile Factory (Htonbo)
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No. (3) Automobile factory (Htaukkyant -
Project Stage)
* Automotive Component Factory (Inndagaw)
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Multi-purpose Diesel Engine Factory
(Thagaya - Project Stage)
* Earth Moving Equipment Factory (Thagaya - Project Stage)
Joint Venture
Myanmar Suzuki Motor Co., Ltd. was established in 1998 with joint venture agreement between Myanma Automobile and Diesel Engine Industries and Suzuki Motor Corporation of Japan. The factory is situated in South Dagon at the address below. The equity ratio is:-
Suzuki Motor Corporation : 70%
Myanma Automobile Diesel Engine Industries : 30%
It is now manufacturing the following vehicles on CKD basis:
Wagon R+ Saloon Cars
Carry Light Trucks
Suzuki Motor Cycles
Branch:
Near Htonbo Town
Padaung Township
Bago Division
Myanmar
Premises: Owned-Office
Operations
Company Employs: 350
Sales: %90 Nationality, 10%
International
Sales
to: General Public, Group Companies
Sales
Term: Cash, Check
Vehicles: 10
HQ Premises
Operates Form: Owned: Offices,
Factories
Location: Central Business Area, Main Road
Related
Companies
The subject doesn't have
any related companies.
Imports
Imports From: Europe, Japan
Import
% and type of product: %20Finished Goods
Import
Term: Letter of Credit
Additional
Information: Balance of %80purchased via local market.
Export
Exports to: Far
East
Export
% and type of product: %10Finished Goods
Export
Term: Letter of
Credit
Trading
& Selling
Type of Customer: General Public, Group Companies
Sales
Term: Cash, Letters of Credit
Vehicles:
14
Financial
The company declined all
financial data.
Banks
Myanmar Agricultural Bank
Myanmar Foreign Trade Bank
Interview & Reporter
Comments
In the interview
conducted with Ms. Thiri Khit
( Secretary),she declined full
financial information and bank account number citing the grounds of company
confidentiality.
Comment: Ms. Thiri Khit
Subject has confirmed the general details provided in the report but has declined to full Financial Data.
Payments
Subject's payments reported to be:
NO COMPLAINTS
Conclusions
Local Reputation: Age of Business: Old Business
MAX credit:
USD
1,700,000.00
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%)