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MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
STANLEY
MINING SERVICES PTY LTD (SMS) |
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Registered Office : |
Plot No. 109 Bin Haki Street Pasiansi Mwanza |
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Country : |
Tanzania |
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Date of Incorporation : |
10.9.1996 |
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Com. Reg. No.: |
56013 Mwanza, Tanzania |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Drilling and Mining Exploration 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
STANLEY MINING SERVICES PTY LTD (SMS)
Principal Address
PO Box 2372 Mwanza,Tanzania
Telephone: +255-78-4529634-7
Fax:+ 255-78-4560465
Email: info@layne.co.tz
Internet: www.layne.co.tz
Established
10/9/1996
Registration
No. 56013
Mwanza,Tanzania
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
340
Office & Factories
Head offices Plot No. 109 Bin Haki Street Pasiansi Mwanza,
Tanzania
Branches Plot 126 & 128 Bwiru Kijijini Block
"A" Pasiansi Mwanza
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Brian Rudd CEO
Mr. Richard Davies Director
Mr. Jamie Armitage Director
Mr. Stewart
Cuthbert Director
Mr. William Schuts Director
Mr. William
Ricciardi Director
Layne Drilling Pty
Ltd Australia Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) STANLEY MINING
SERVICES BOTSWANA
Company (2) STANLEY MINING
SERVICES ZAMBIA LTD
Company (3) WEST AFRICAN
DRILLING SERVICES PTY LTD
Company (4) STANLEY MINING
SERVICES PTY LTD AUSTRALIA
Company (5) STANLEY MINING
SERVICES SOUTH AFRICA
Management/ Directors
President/ CEO (1)
Name Mr.
Brian Rudd
Remarks Top
Decision Maker
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
Drilling and
mining exploration services
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Boart Longyear
Customers
Mining Firms
Recent Sales
TZS. 8,600,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
70.0%
Domestic Market Share
30.0%
Banking relationship
Main Banks Stanbic 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%)