MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
MYANMAR
AGRICULTURAL AND MACHINERY |
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Registered Office : |
6(b) Kaba Aye Pagoda Rd, Yankin Township, Yangon |
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Country : |
Myanmar |
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
194/72-54 |
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Legal Form : |
State Owned Concern |
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Line of Business : |
Production of Agricultural Machineries and Equipment |
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 1,500,000.00 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Name
MYANMAR
AGRICULTURAL AND MACHINERY
Also Trade as
MAMI
Address
MINISTRY OF
INDUSTRY NO. 2
YANKIN
PO YANGON
MYANMAR
Tel: +95 1 660204
+95 1 662187
+95 1 661794
Fax +95 1 665899
E-Mail:
dmip@baganmail.net.mm
Company was originally started on 1981
Current Legal Form
State Owned Concern
Registration Address
6(b) Kaba Aye Pagoda Rd, Yankin Township
Yangon, Myanmar
Registration Number
194/72-54
Registration Date
1981
Year/Date Company Established
1981
CAPITAL
Currency: Myanmar Kyat ( MMK)
Nominal Capital: 5,712,000.00
SHAREHOLDER
Myanmar Government Share%: 100%
Management
Name: Mr. Than Ngwe
Position within the company: Deputy General Manager
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
Name: Mr. Ba Hlaing
Position within the company: Assistant Manager
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
Name: Mr. Khin Maung Tun
Position within the company: Assistant General Manager
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
Name: Mr. Nyan Win
Position within the company: Assistant Manager
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
Name: Mr. Tin Kyaing
Position within the company: Manager
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
Name: Mr. U Myo Tint
Position within the company: Managing Director
Country of Birth: Myanmar
Nationality: Myanmar
Can fluently speak: English
The subject plays an important role as it is
responsible for the production of agricultural machineries and equipment which
are essential for the development of mechanized agriculture.
The factories under the Myanma Agricultural
Machinery Industries are :-
* No. (1) Agricultural
Machinery Factory (Sinde)
* No. (2) Agricultural
Machinery Factory (Malun)
* 18 HP Diesel Engine
Factory (Inndagaw)
The subject produces 100,00 power tillers,
5,000 harvesters and 3,000 combined harvesters every year.
Joint Venture
Myanmar Fritz Werner Industries Co., Ltd
* Joint production of
electric transformers
* Joint production of
electric cables
* Trading
Myanma Heavy Industries, Ministry of
Industry (2) :
60%
Fritz Werner Industrie- Ausrustungen
GmbH
: 40%
Company Employs
550
Sales
%80 Nationality, 20% International
Sales to: General Public, Group
Companies
Sales Term: Cash, Check
Vehicles
36
Operates Form
Owned: Office, Factories
Location
Central Business Area, Main Road
Affiliates
Directorate of Myanma Industrial
Planning (DMIP)
Myanma Automobile and Diesel Engine
Industries (MADI)
Myanma Machine Tools and Electrical
Industries (MTEI)
Myanma Tyre and Rubber Industries
(MTRI)
Myanma Industrial Construction
Services (MICS)
import
Imports From: Germany, UK
Import % and type of product:
%20Finished Goods
Import Term: Letter of Credit
Additional Information: Balance of
%80purchased via local market.
export
Exports to: Middle East, Africa, Far East
Export % and type of product:
%20 Finished Goods
Export Term: Letter of Credit
Type of Customer
General Public, Group Companies
Sales Term
Cash, Letters of Credit
The company declined all financial data.
bankers
MYANMA
FOREIGN TRADE BANK
80/86
MAHABANDOOL PANCHAN STREET,
KYAUKADA
TOWNSHIP
YANGON,
MYANMAR
TEL:
+91-1-2818110
Reporter Comment Date: 11/02/2008
In the interview conducted with Mr. Huang
Sein ( Secretary),she declined full financial information and bank account
number citing the grounds of company confidentiality.
Comment:
Mr. Huang Sein
Subject has confirmed the general details provided in the report but has
declined to full Financial Data.
Subject's payments reported to be
NO COMPLAINTS
Local Reputation
The company being investigated is believed by local reporters to be a Medium
trade risk and to be Fair.
Owner/Shareholders Comments
Some
of the owners / shareholders have an active participation in the
running of the business.
Age of Business
Old Business
MAX credit
USD 1,500,000.00
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%)