MIRA
INFORM REPORT
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Report Date : |
22.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
SPICE
ISLAND LIMITED |
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Registered Office : |
P.O Box 3815 Creek Road, Stone Town, Zanzibar |
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Country : |
Zanzibar |
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Date of Incorporation : |
20.4.2007 |
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Legal Form : |
Limited
Liability Company, Limited by Shares |
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Line of Business : |
Providers of hotel and resort services |
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 40,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
SPICE ISLAND
LIMITED
Principal Address
P.o Box 3815 Creek Road, Stone Town, Zanzibar
Telephone: +255-773049344
Fax: +255-715234978
Email: office@spice-island-hotel-resort.com
Internet: www.spice-island-hotel-resort.com
Established
20/4/2007
Registration
Zanzibar, Tanzania
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
80
Office & Factories
Head offices Creek Road, Stone Town, Zanzibar, Tanzania
Representative
offices P .o. Box 42,
Petersfield, Hampshire, GU31 4YA, United Kingdom
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Patrick OSullivan Director
Gerd Winkel Director
Zanzibar
International Limited Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 40,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Patrick OSullivan
Remarks Top
Decision Maker
President/ CEO (2)
Name Gerd
Winkel
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
Providers of hotel
and resort services
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Various
Customers
Public
Recent Sales
Not Yet Started
Exports
None
Export Ratio
0.0%
Import Ratio
0.0%
Domestic Market Share
0.0%
Banking relationship
Main Banks BARCLAYS BANK ZSTF
Building, Stone Town, Zanzibar
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 40,000 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.41.96 |
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UK Pound |
1 |
Rs.83.78 |
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Euro |
1 |
Rs.65.82 |
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%)