MIRA
INFORM REPORT
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Report Date : |
14.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
TANZANIA INTERNATIONAL CONTAINER TERMINAL SERVICES
LTD |
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Registered Office : |
P.o Box 71442 Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
5.5.2000 |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Operation of Container Terminal in Dare S Salaam |
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 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
TANZANIA INTERNATIONAL CONTAINER TERMINAL SERVICES LTD
Principal Address
P.o Box 71442 Dar Es Salaam, Tanzania
Telephone: +255-22-2134056
Fax: +255-22-2134019
Email: ticts@ticts.com
Internet: www.ticts.com
Established
5/5/ 2000
Registration
No. Tanzania
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
400
Office & Factories
Head offices Port Access Road, Port of Dar Es Salaam,
Tanzania
Branches None
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Jan T. Mors CEO
Mr. David Cotty Director
Mr. S E Luhigo Director
Hutchinson Port
holding Holding Co. 75.00%
Vertex Financial
Services Shareholders 25.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 400,000 is recommendable
Affiliated Companies
Company (1) KURASINI INLAND
CONTAINER DEPOT
Management/ Directors
President/ CEO (1)
Name Mr. Jan T. Mors
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
David Cotty
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
Operation of
container terminal in dare s salaam
Terms of payment
Buying
terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Gorbel,
Kalmar, GoldHorse
Customers
Clearing agents, Importers
& exporters
Recent Sales
TZS.
268,000,000 (2007)
Exports
Worldwide
Export Ratio
50.0%
Import Ratio
50.0%
Domestic Market Share
80.0%
Banking relationship
Main Banks 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 400,000 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%)