MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
BEAUTY-TEX LTD |
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Registered Office : |
Plot No. Section |
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Country : |
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Date of Incorporation : |
27.03.1982 |
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Com. Reg. No.: |
91616 |
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Legal Form : |
Limited Company |
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Line of Business : |
Retailers of Textile
Garments and Products |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 100,000 |
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Status : |
No Longer Active |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
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Registered Name: |
BEAUTY-TEX LTD |
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Requested Name: |
BEANTY |
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Other Names: |
None found. |
ADDRESS AND TELECOMMUNICATION
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Physical Address: |
Plot No. Section |
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Postal Address: |
P.o
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Country: |
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Phone: |
254-41-2316007 |
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Fax: |
254-41-2316005 |
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Email: |
btx.plz@africaonline.co.ke |
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Website: |
none |
CREDIT OPINION & RISK RATING
ASSESSMENT
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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
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Legal Form: |
Limited Company |
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Date Incorporated: |
27-March-1982 |
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Reg. Number: |
91616 |
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Nominal Capital |
KES
100,000 |
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Subscribed Capital |
KES
100,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr.
Shamshudin Ali Mohamed |
MD/
CEO |
40 |
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Mr.
Badrudin Ali Mohamed |
Director |
30 |
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Mr.
Anverali Ali Mohamed |
Director |
30 |
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Mr. Noorali Jin |
Director |
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Mr Amin
Omar |
Director |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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Pick N’ Save |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
OPERATIONS
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Registered to operate as
retailers of textile garments and products |
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Imports: |
Neighboring Countries |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
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Main Customers: |
Individuals |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Rented premises, 2.000 square feet, |
AUDITORS AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
FINANCE
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Currency Reported: |
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Approx. Ex. Rate: |
1 US Dollar = 78 |
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Fiscal Year End: |
December 31, 2007 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2007 was of 13%. |
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Financial Information Not
Submitted |
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2007 |
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Sales |
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45,000,000 |
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Net Profit (Loss) |
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2,000,000 |
BANK
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Bank Name: |
NIC
BANK |
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Branch: |
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Comments: |
None |
TRADE
REFERENCES
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Experiences: |
Good |
NOTARIAL
BONDS
None
CHECK
INSOLVENCIES
The checks have been
made on: The company and
directors
PROTESTS
AND NEGATIVE ELEMENTS
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The company and the
following officers Mr. Shamshudin Ali Mohamed, Mr. Badrudin Ali Mohamed, Mr.
Anverali Ali Mohamed, have been checked at the Registries of companies and
with the judicial local facilities. |
PROTESTS
RECORDED
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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 |
NEGATIVE
ELEMENTS
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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: 18/11/2008 |
COMMENTS / ADDITIONAL INFORMATION
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This information was obtained
from outside sources other than the subject company itself and confirmed the
above subject. The company was under
family management but it is no longer active |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.03 |
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1 |
Rs.74.42 |
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Euro |
1 |
Rs.62.71 |
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%)