MIRA
INFORM REPORT
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Report Date : |
15.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAS
INTERNATIONAL TRADING |
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Registered Office : |
Nazareth,
Addis Ababa |
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Country : |
Ethiopia |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
09.09.05 |
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Com. Reg. No.: |
737365 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
import of spare parts and
Building materials export of oil seeds and
commission agent |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: KAS INTERNATIONAL TRADING
Requested Name: KAS
INTERNATIONAL TRADING
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Nazareth, Addis Ababa, Ethiopia
Postal Address: P.o Box 50609
Addis Ababa
Country: Ethiopia
Phone: 251-1-555869/22-1128299
Fax: 251-1-560277
Mobile: 251-9-204568
Email: KAS@telecom.net.et,
Nuruhussen@yahoo.com
Website: www.kasethio.com
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments. We recommend Credit of USD 100,000 on 90
days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 09/09/05
Reg. Number: 737365
Nominal Capital ETB 10,000,000
Subscribed Capital ETB 10,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
NuruHussein Ahmed Siraj GM 80
Mr.
Abdu Ahmed Director 20
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Several Companies whose names were not
forthcoming Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as import of spare parts and
Building materials export of oil seeds and
commission agent
Imports: Europe,
Asia
Exports: None
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customers: firms and
organizations
Employees: 60 employees.
Vehicles: Several motor
vehicles.
Territory of sales: Ethiopia
Location: Rented premises,
20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ethiopian Birr (ETB)
Approx. Ex. Rate: 1 US Dollar = 9 Ethiopian Birr
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at December
31st, 2007 was of 13%.
Financial Information Submitted
2007
Sales 25,000,000
BANK
Bank Name: Dashen bank
Branch: Addis Ababa
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.46 |
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UK Pound |
1 |
Rs.73.17 |
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Euro |
1 |
Rs.62.96 |
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%)