MIRA
INFORM REPORT
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Report Date : |
27.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
AFRICAN FOODS AND BEVERAGES |
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Registered Office : |
Avenue Des Entrepôts N°3 - Kinshasa/Kingabw |
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Country : |
Republic of Congo |
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Date of Incorporation : |
12.9.2001 |
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Com. Reg. No.: |
78682 Democratic Republic of Congo |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacturers and Retailers of Mineral Water, Pet Bottles, Bags and
Cans |
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 60,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
AFRICAN FOODS AND BEVERAGES
Principal Address
Kinshasa Democratic republic of Congo
Telephone: +243-81-4076757/ 8804961/ 8845671
Fax: +243-81-8843190
Email: satnam@zenufa.com
Internet
None
Established
12/9/2001
Registration
No. 78682 Democratic
republic of Congo
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
250
Office & Factories
Head offices Avenue des entrepôts n°3 - Kinshasa/Kingabw,
Congo
Branches None
Company Profile
Paid in Capital CDF. 100,000,000
Subscribed Capital CDF. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Naren Visani Director 40.00%
Mr. Satnam Alag Director 30.00%
Mr. Kamal Kotecha Director 30.00%
Mr. Premnath
Karkera F Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 60,000 is recommendable
Affiliated Companies
Company (1) ZENUFA
LABORATORIES, Tanzania
Management/ Directors
President/ CEO (1)
Name Mr. Naren Visani
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Satnam Alag
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
Manufacturers
& Retailers of mineral water, PET bottles, bags and cans.
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
None
Customers
Industries, Hotels, stores
and outlets
Recent Sales
CDF. 800,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
30.0%
Domestic Market Share
3.0%
Banking relationship
Main Banks CITI 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 60,000 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%)