MIRA
INFORM REPORT
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Report Date : |
04.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SARRCHEM
INTERNATIONAL LTD |
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Registered Office : |
P.o Box 63289-00619, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
15.02.2002 |
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Com. Reg. No.: |
96924 Nairobi, Kenya |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Dealers in industrial materials, computer accessories and also provide
consultancy 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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
SARRCHEM
INTERNATIONAL LTD
Principal Address
P.o Box 63289-00619, Nairobi, Kenya
Telephone: +254-20-2730482/5
Fax: +254-20-
Email: ravishah@sarrchem.com
Internet: www sarrchem.com
Established
15/02/2002
Registration
No.96924 Nairobi,
Kenya
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
200
Office & Factories
Head offices L/R
No. 1/1228 3rd Floor Chaka place, Argwings Kodhek, Chaka Rd. Nairobi, Kenya
Branches None
Company Profile
Nominal Capital KES. 2,000
Subscribed Capital KES. 2,000
Shareholders
Name Position Amount
Ratio
Mr. Rahul Shah CEO 10 34.00%
Mr. Ravindu
Dhiratlal Shah Director 10 33.00%
Mr. Ary Aziz Director 10 33.00%
Total 30 100.00%
Credit Opinion
Our proposed credit amount of USD 80,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. Rahul Shah
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Ravi Shah
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
Dealers in
industrial materials, computer accessories and also provide consultancy
services
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
None
Customers
Individuals, firms and
organizations
Recent Sales
KES. 240,000,000
(2007)
Exports
None
Export Ratio
30.0%
Import Ratio
20.0%
Domestic Market Share
10.0%
Banking relationship
Main Banks ECO 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 80,000 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%)