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MIRA
INFORM REPORT
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Report Date : |
13.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UG CEMENT
CONSULT LTD (KENYA) |
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Registered Office : |
LR 4/428 & 2/249
Kirichwa Road, Nairobi. |
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Country : |
Kenya |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.02.1996 |
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Com. Reg. No.: |
69289 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Wholesaling and Retailing
of ventilating, air-conditioning and heat recovery, environmental protection
systems, and dust collection plants, they also act as manufacturers
representatives in various countries etc |
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 : |
Usually Correct |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: UG CEMENT CONSULT LTD (KENYA)
Requested Name: UG
CEMNENT CONSULT LTD (KENYA)
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: LR 4/428 & 2/249 Kirichwa Road, Nairobi.
Postal Address: P.o Box 25226-00603
Nairobi
Country: Kenya
Phone: 254-20-3873293/4
Fax: 254-20-3873294
Email: ugcc@africaonline.co.ke
Website: None
CREDIT OPINION & RISK RATING
ASSESSMENT
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: 16-Feb-1996
Reg. Number: 69289
Nominal Capital KES 1,000,000 Divided into
Shares of 50,000 each KES 20
Subscribed Capital KES 1,000,000
Paid Up Capital KES 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Ulrich Guertler MD/ CEO 4500
Mrs.
Florence lihanda isiaho Director 500
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate wholesaling and retailing of
ventilating, air-conditioning and heat recovery, environmental protection
systems, and dust collection plants, they also act as manufacturers
representatives in various countries etc
Imports: China, India and
South Africa
Exports: Uganda and
Tanzania
Trademarks: None
Terms of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: Cement,
glass and Lime firms and companies
Employees: 4
employees.
Vehicles: Several
motor vehicles.
Territory of sales: South
Africa
Location: Rented
premises, 500 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: South African Rands (KES)
Approx. Ex. Rate: 1 US Dollar = 68 South African Rands
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 Not Submitted
Profit and Loss (expressed in KES)
2007
Sales 60,000,000
Net Profit (Loss) 2,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Kirichwa Rd, Nairobi
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
CHECK
INSOLVENCIES
The checks have been
made on: The company
and managers
PROTESTS
AND NEGATIVE ELEMENTS
The company and the following officers Mr. Ulrich
Guertler and Mrs. Florence lihanda isiaho, have been checked at the Registries
of companies and with the judicial local facilities.
PROTESTS RECORDED
No protests in the name of the company and its
officers, No protests on the associated concerns, No protests on
shareholders/partners, Check on Prejudicial Events as per Commercial Court
office
NEGATIVE ELEMENTS
Researches effected
concerning possible prejudicial events
in the name of the company
revealed: No negative elements since 01/01/2000
Date of the check on protests and prejudicial events:
10/11/2008
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%)