MIRA
INFORM REPORT
|
Report Date : |
14.03.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ELMA PLC |
|
|
|
|
Registered Office : |
21Kebele 04 Woreda , Addis Ababa |
|
|
|
|
Country : |
Ethiopia |
|
|
|
|
Date of Incorporation : |
3.8.2002 |
|
|
|
|
Com. Reg. No.: |
189237 Addis Ababa Ethiopia |
|
|
|
|
Legal Form : |
Limited Liability Company, Limited by Shares |
|
|
|
|
Line of Business : |
General Merchants , Importers and Exporters of Food Products and
Stuffs etc |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Maximum Credit Limit : |
USD 40,000 |
|
|
|
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY REPORTED
ELMA PLC
Actual Name
DELMA PLC
Principal Address
21Kebele 04 Woreda , Addis Ababa Ethiopia
Telephone: +251-11-1576657
Fax: +251-11-1576657
Email: None
Internet: None
Established
3/8/2002
Registration
No. 189237 Addis
Ababa Ethiopia
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
40
Office & Factories
Head offices 21Kebele 04 Woreda , Addis Ababa Ethiopia
Branches None
Company Profile
Paid in Capital ETB. 10,000
Subscribed Capital ETB. 10,000
Shareholders
Name Position Amount
Ratio
Elma Beyene Director 50.00%
Wineh Beyene Director 50.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 40,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Elma Beyene
Remarks Top
Decision Maker
President/ CEO (2)
Name Wineh
Beyene
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
General Merchants
, importers & Exporters of food products &stuffs etc
Terms of payment
Buying
terms 30% in cash, 70% on credit
Selling
terms 80% in cash, 20% on credit
Suppliers
None
Customers
Distribution stores and
outlets
Recent Sales
ETB.
4,000,000 (2007)
Exports
Asia
Export Ratio
20.0%
Import Ratio
20.0%
Domestic Market Share
5.0%
Banking relationship
Main Banks Dashen 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 40,000 outstanding at any one time.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to recommend
credit dealings |
No Rating |
|
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%)