MIRA
INFORM REPORT
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Report Date : |
13.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
OPLAST
LTD |
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Registered Office : |
Kamel Mats Nyerere Express Way Lot 12, Dar
Es Salam |
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Country : |
Tanzania |
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Date of Incorporation : |
27.4.2006 |
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Com. Reg. No.: |
98058 Dar es Salaam, Tanzania |
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Legal Form : |
Limited Liability company, Limited by Shares |
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Line of Business : |
Manufacturing Plastic Sandals and Rubber |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
OPLAST LTD
Principal Address
Kamel Mats Nyerere Express Way Lot 12, Dar Es Salam, Tanzania
Telephone: +255-22-261767
Fax: +255-22-261767
Email: None
Internet: None
Established
27/4//2006
Registration
No. 98058 Dar
es Salaam, Tanzania
Legal Form
Limited Liability company,
Limited by shares
Stock Listing
Not Listed
Workforce
2007
40
Office & Factories
Head offices Pugu Road, Vingunguti Industrial Area, , Dar es Salaam, Tanzania
Branches None
Company Profile
Paid in Capital TZS. 5,000,000
Subscribed Capital TZS. 5,000,000
Shareholders
Name Position Amount
Ratio
Mr. Harish
Dutia Director
Mr. Farid Karimjee
Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 20,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. Harish Dutia
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Farid Karimjee
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
Manufacturing
plastic sandals and rubber
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None Stated
Customers
Local distributors
Recent Sales
TZS. 268,000,000
(2006)
Exports
None
Export Ratio
0.0%
Import Ratio
30.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks National Bank Of
Commerce
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 20,000 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%)