MIRA
INFORM REPORT
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Report Date : |
17.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAC
UTI PROPERTIES LIMITED |
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Registered Office : |
P.O Box 2763 Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
08.04.1998 |
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Com. Reg. No.: |
68978 |
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Legal Form : |
Limited
Liability Company, Limited by Shares |
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Line of Business : |
Real Estate
Investments and Development |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
MAC UTI PROPERTIES
LIMITED
Actual name UNION
TRUST INVESTMENTS PROPERTIES LTD
Principal Address
P.o Box 2763 Dar Es Salaam, Tanzania
Telephone: +255-22-2151792/3
Fax:+255-22-2151321
Email
Internet
Established
8/4/1998
Registration
No. 68978 Dar
Es Salaam, Tanzania
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
100
Office & Factories
Head offices 330 Urambo Street, Upanga, Dar Es Salaam,
Tanzania
Branches None
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Jalal H.
Jamal CEO 20.00%
Mr. Yogesh Manek Director 20.00%
Mr. Pradip M.
Manek Director 20.00%
MAC GROUP LTD, Tanzania Holding Co. 40.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) AFRICAN MOSFLY
INDUSTRIES LIMITED
Company (2) ALLIANCE INSURANCE
CORPORATION LIMITED
Company (3) ANIFF (K) LTD
Company (4) NEW ARUSHA HOTEL
LTD
Company (5) CHEMI & COTEX INDUSTRIES LTD
Company (6) CHEMIPACK (U) LTD, UGANDA
Company (7) EAST USAMBARA TEA
COMPANY LTD
Company (8) EXIM BANK (T)
LIMITED
Company (9) GREAT LAKES MINING CORP LTD
Company (10) INCAR (T) LTD
Company (11) INTERNATIONAL
COOLING SYSTEMS & ENGINEERING LIMITED
Company (12) MAC GROUP LTD
Company (13) MANEK TRADING CO.,
LTD
Company (14) NUFAIKA
DISTRIBUTORS (U) LTD, UGANDA
Company (15) NYANZA MINES (T)
LIMITED
Company (16) PURE DRINKS LTD
Company (17) THE HERITAGE AII
INSURANCE
Company (18) VAKAM CORPORATION INC USA
Management/ Directors
President/ CEO (1)
Name Mr. Jalal H. Jamal
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Yogesh Manek
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
Real estate
investments and development
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Various
Customers
Companies and Investors
Recent Sales
TZS. 4,800,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
0.0%
Domestic Market Share
25.0%
Banking relationship
Main Banks EXIM Bank
CRDB Bank
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
average.
COMMENTS
Maximum credit we recommend is USD 100,000 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%)