MIRA
INFORM REPORT
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Report Date : |
03.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAZAM ENTERPRISES & INVESTMENT LIMITED |
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Registered Office : |
#187 Union Road, Marabella |
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Country : |
Trinidad and Tobago |
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Date of Incorporation : |
20.03.1980 |
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Com. Reg. No.: |
S 670 |
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Legal Form : |
Private Limited Liability
Company |
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Line of Business : |
Wholesale Distributors of
Hardware Items |
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 70,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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REQUIRED CREDIT |
ADVISED CREDIT |
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Maximum |
USD 70,000 |
GEOPOLITICS
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POLITICAL DATA |
ECONOMIC DATA |
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FORM OF GOVERNMENT ECONOMIC RISK |
Parliamentary Republic None |
CURRENCY BRANCH SITUATION |
Trinidad & Tobago Dollars 100 TTD = 15,90 USD Good |
IDENTIFICATION
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Company Name: |
SHAZAM ENTERPRISES
& INVESTMENT LIMITED
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Address: |
#3 Gopaul Cirular Drive, Marabella, Trinidad &
Tobago |
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Phone: Facsimile: ID: State: Managers: |
1-868-658-0507 1-868-658-2442 S 670 © (Company Registration File Number) Trinidad & Tobago Mr. Shazad Ali - Director |
Date founded: |
20th March 1980 Private Limited Liability Company 680,000 Ordinary Shares 680,000
TTD 34 employees |
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Legal form: |
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Stock: Value: |
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Staff: |
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Business: |
Wholesale Distributors of
hardware items. |
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BANKS
Republic Bank Limited
#10 High Street,
San Fernando
Contact Person: Mr. Krishendath Ramoutar
Telephone number: 1-868-652-2522
BUSINESS
The Subject
Company operates as wholesale distributor of hardware products. The items the
subject distributes are imported from various countries. Shazam Enterprises
& Investments Limited distributes items such as P.V.C. Pipes &
Fittings, Garden Hoses, G.I. Pipes, Water Pumps, Guttering Systems, Locks and
other such related items.
Shazam though
based in Trinidad, distributes their hardware items to other Caribbean islands,
as they engage in exporting.
Registered Office
#187 Union Road, Marabella
Mailing Address
#3 Gopaul Circular
Drive, Marabella
Present Operating Address
#3 Gopaul Circular Drive, Marabella
Operations
At #3 Gopaul Circular Drive, Marabella. An administrative
office as well as hardware can be found.
Legal
Status: Private Company, Limited by
shares incorporated under the Companies Ordinance and duly continued under the
Companies Act of the Laws of the Trinidad.
Date of Commencement: 20th March 1980 (approx. Twenty-eight (28) years in operation)
Dated of
Incorporation: Same as above (20th March 1980)
Staff: The subject company operates with
a staff of thirty-four (34) employees on its payroll. Of that thirty-two (32)
are permanent and two (02) are casual.
LOCAL / FOREIGN SUPPLIERS
LOCAL
Ali’s Hardware & Metal Fabricators
Limited
#187 Union Road,
Marabella,
Trinidad
Telephone number: 1-868-658-4614
This
trade reference has been doing business with the subject Company for over five
(05) years and within such time purchases of plumbing related items have been
made. Shazam enjoys a 45-60 day credit facility in the amount of TTD 200,000.00.
Their average monthly purchase was described as TTD 50,000.00 having all
payments remitted on time, resulting in dealings with the subject being
described as one of a satisfactory nature.
FOREIGN
Zhejiang Shuanghuan Plastic Valve Enterprise Limited
South City Industrial Park
Huang Van,
Zhejiang, PR of China
Telephone number: 86-576-841-85-330
SHAREHOLDERS – SUBSIDIARIES
– MANAGERS
The
authorized capital of the company is 1,000,000 ordinary shares.
The
issued capital is 680,000 ordinary shares at TTD 1 each share.
DIRECTORS
Shazad
Ali Director
– Ali’s Hardware & Metal Fabricators Limited
#187-191 Union Road,
Marabella
Amzad
Ali Director
– Ali’s Hardware & Metal Fabricators Limited
#187-191 Union Road,
Marabella
Zaphyroon Ali
#187-191 Union Road,
Marabella
Appointed:
12th September 2006
SHAREHOLDERS
·
Estate of Keith Ramdhanie 1 Ordinary Share
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Shazad Ali 25,000 Ordinary Shares
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Estate of Shaffick Ali-Khan 315,000 Ordinary Shares
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Salima Ali-Khan 315,000
Ordinary Shares
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Amzad Ali 24,999 Ordinary Shares
SUBSIDIARIES
Ali’s Hardware & Metal Fabricators Ltd
FINANCIALS – COMMERCIAL TRENDS
AND FORECAST
The Subject Company is registered as Private Limited Company and
is therefore exempt from filing and/or publishing Annual Audited Accounts at
the Registrar of Companies, under Trinidad Law. In addition, due to the laws of
privacy governing disclosure of BANKING INFORMATION, we are unable to demand a
copy of the subject’s Latest FINANCIAL STATEMENTS.
However, the Mr.
Ali, the company’s director, has provided us the following information:
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Fiscal Year |
2005 |
2006 |
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Turnover
in TTD |
11,237,066 |
13,764,046 |
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Net
Results in TTD |
1,695,103 |
2,257,841 |
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Further information regarding the company’s
financials is attached at the bottom of this report.
Debentures/Mortgages/Charges:
Our Legal
searches in the Credit Bureau Data Base and the Company’s registration file
have revealed no evidence of any registered Mortgage, Chattel Mortgage or
Debentures filed in the name of the Company or any of its given Directors.
Furthermore, we hereby advise that, according to checks done
in Trinidad, there were no reports of
any Credit Delinquencies registered in the name of the subject Company.
In addition, there were no record of any High Court or Petty Civil Court
Judgments entered against the Company or it’s Directors in any civil suit
and/or litigation matter in Trinidad during the period of our Judgment searches
(6 years).
Further investigation into the MBS
files of Trinidad, revealed no reports of any Mortgage Bill of Sale registered
in the name of the Company.
Based on our credit Bureau Data Base
investigations we have found no evidence of any Reported Credit delinquency or
delay /default /caution on this Subject Company’s part in meeting any past
trade or financial obligation strictly in accordance with terms.
RATING
Local credit bureau gave a good credit rate.
Payments are usually made within 45-60 days.
The company’s cash flow is correct.
INTERVIEW
Person Interviewed and Position:
Mr. Shazad Ali – Director
Mr. Ali was cooperative and was able to provide the information needed
for the completion of this report.
Our final opinion
The subject company has 28 years of experience and counts with 34 employees. It has good relations with the provider that we have contacted and it reports a profitable financial position. There has been no negative antecedent found incriminating the company or its directors. Therefore, based in the company’s sales, we suggest a credit line of 70,000 USD.
SUMMARY
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FINANCIAL SUMMARY |
DEBT COLLECTIONS
AND PAYMENTS |
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PROFITABILITY INDEBTNESS CASH |
Good No Correct |
PUBLIC PAYMENTS |
Nil Good |
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ADVISED CREDIT |
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USD 70,000 |
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%)