MIRA
INFORM REPORT
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Report Date : |
15.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL HILLAL MINERALS LTD |
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Registered Office : |
P. O. Box 15, Shinyanga |
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Country : |
Tanzania |
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Date of Incorporation : |
8.7.1993 |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Mining of Diamond and other Minerals |
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 300,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
EL HILLAL MINERALS LTD
Principal Address
P. O. Box 15, Shinyanga, Tanzania
Telephone: +255-748277799 /337372
Fax: +255-748277799 /337372
Email: None
Internet: None
Established
8/7/1993
Registration
No. Tanzania
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
250
Office & Factories
Head offices Mwadui Mine Shinyanga, Tanzania
Branches Dar es Salaam, tanzania
Company Profile
Paid in Capital TZS. 100,000,000
Subscribed Capital TZS. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Hillal Ahmed
Hillal CEO 60.00%
Mr. Mohamed Hillal
Hamad Director 20.00%
Mr. H Rashid
Mohammed Director 20.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 300,000 is recommendable
Subsidiary Companies
Company (1) MWADUI EXPLORATION
AREA
Management/ Directors
President/ CEO (1)
Name Mr. Hillal Ahmed Hillal
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Mohamed Hillal Hamad
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
Mining of Diamond
& other Minerals
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Various
Customers
Distribution outlets &
cutting companies
Recent Sales
USD. 9,000,000
(2007)
Exports
Europe, Asia, and
Africa
Export Ratio
95.0%
Import Ratio
40.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks CRDB Bank
Barclays 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 300,000 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%)