MIRA
INFORM REPORT
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Report Date : |
20.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNITED TANNERIES |
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Registered Office : |
P.O. Box: 123, Masjid Road, Biratnagar - 7 |
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Country : |
Nepal |
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Date of Incorporation : |
23.07.1995 |
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Legal Form : |
Partnership |
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Line of Business : |
Manufacturer and Exporter of Wet Blue Hides and semi
finished and finished leathers |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
United Tanneries
P.O. Box: 123, Masjid Road, Biratnagar - 7
NEPAL
Telephone No. : 977-21-530786
Fax : 977-21-526508
Email : sales-ut@cyberworld.com.np
Tannery : Duhabi-Nine, Sunsari, Nepal
Tel:
977-25-540415
Fax:
977-25-541057
Year Established
23-07-1995
Legal Status
Partnership
Name of Partners
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Name |
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Parwaz Akhter |
Executive Director |
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Shadab Akhter |
Director |
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Amir Akhter |
Director |
Auditors
R.K. Karki & Associates
Biratnagar, Nepal
Staff
46 nos.
Bankers
Nabil Bank Ltd.
Goshwara Road,
Biratnagar, Nepal
Standard Chartered Bank Nepal Limited.
Biratnagar, Nepal
Office Space
Registered Office is 1200 sq.ft. (Lease Hold)
Tannery: 1800 Sq. Ft. (Lease Hold)
Business
Manufacturer and Exporter of Wet Blue Hides and semi finished and finished leathers. Tannery produces 2.00 million sq. ft. of wet blue every year for export and 1.00 million sq. ft. finished leather.
Export
Europe, Far East, Japan, Hong Kong, China
Finance
Present Working Capital – Np. Rs.4.00 crores.
Sales (2007) : Np. Rs.6.50 crores
Projected Sales (2008) : Np. Rs.7.25 crores
Trading Terms
Purchase - L/C – 30 days
Credit – 30 days
Sales - L/C – 30 days
Credit – 30 days
Remarks
Partners are well experienced and active. Payments are Reported to be correct and regular as per
commitment.
Trade relations are fair.
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%)