MIRA
INFORM REPORT
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Report Date : |
03.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ACHELIS
MATERIAL HANDLING LIMITED |
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Registered Office : |
P.O Box 30378-00100, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
12.08.1998 |
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Com. Reg. No.: |
82124 Nairobi, Kenya |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Import and Distribution of Industrial and Commercial Equipment and
Machinery |
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 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
ACHELIS MATERIAL
HANDLING LIMITED
Principal Address
P.o Box 30378-00100, Nairobi, Kenya
Telephone: +254-20-532777
Fax: +254-20-556491
Email: ldenter@achelis.co.ke
Internet: www.achelis.co.ke
Established
12th August 1998
Registration
No. 82124 Nairobi, Kenya
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
120
Office & Factories
Head offices Achelis Funzi Road, Off Enterprises Road
Nairobi, Kenya
Branches Jomo
Kenyatta Ave Mombasa, Kenya
Company Profile
Paid in Capital KSHS. 1,000,000
Subscribed Capital KSHS. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Lothar Denter CEO
Mr. Mike Craig President &
CEO
Joh.Achelis &
Sohne GmbH Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 120,000 is recommendable
Affiliated Companies
Company (1) MCLEOD & CO.
(EAST AFRICA) LTD.
Company (2) ACHELIS
(TANGANYIKA) LIMITED
Company (3) ACHELIS (UGANDA)
LIMITED
Company (4) ACHELIS HNI (SOUTH
AFRICA) (PTY) LIMITED
Company (5) ACHELIS HNI
(ZAMBIA) (1996) LIMITED
Company (6) MBITICO MBI
TRADING COMPANY
Company (7) ACHELIS
(SINGAPORE) PTE. LIMITED
Company (8) ACHELIS (THAILAND)
LIMITED
Company (9) ACHELIS OPTICAL
(HONG KONG) LIMITED
Company (10) ACHELIS TAIWAN CO.
LIMITED
Management/ Directors
President/ CEO (1)
Name Mr. Lothar Denter
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Mike Craig
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
Import and
distribution of industrial and commercial equipment and machinery
Terms of payment
Buying terms 30% in cash, 70% on 60 day
credit
Selling terms 80% in cash, 20% on 60 day
credit
Suppliers
Hyster, Pasico etc
Customers
Industrial, freighting,
medical, and construction organizations etc.
Recent Sales
KSHS. 280,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
60.0%
Domestic Market Share
30.0%
Banking relationship
Main Banks Standard Chartered Bank Ltd
BARCLAYS
Bank Ltd
CITIBANK
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 120,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)