MIRA
INFORM REPORT
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Report Date : |
19.11.2008 |
IDENTIFICATION DETAILS
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Name : |
TABAKI FREIGHT SERVICES INTERNATIONAL LTD |
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Registered Office : |
LR
No. 209/10506/1 |
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Country : |
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Date of Incorporation : |
05.06.1995 |
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Com. Reg. No.: |
65208 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Provider of air and sea
freighters services such as warehousing and other transportation services |
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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
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Registered Name: |
TABAKI FREIGHT
SERVICES INTERNATIONAL LTD |
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Requested Name: |
TABAKI FREIGHT SERVICES INTERNATIONAL LTD |
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Other Names: |
None found. |
ADDRESS AND TELECOMMUNICATION
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Physical Address: |
LR
No. 209/10506/1 |
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Postal Address: |
P.o
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Country: |
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Phone: |
254-20-604017/18/604022/604023 |
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Fax: |
254-20-603185 |
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Email: |
info@tfs.co.ke |
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Website: |
www.tfs.co.ke |
CREDIT OPINION & RISK RATING
ASSESSMENT
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Financial Index as of
December 2007 shows subject firm with a medium risk of credit. We recommend
Credit of USD 150,000 on 90 days. |
LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
5-June-1995 |
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Reg. Number: |
65208 |
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Nominal Capital |
KES
100,000 Divided into Shares of 1000 each
KES 100 |
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Subscribed Capital |
KES
100,000 |
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Paid Up 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.
David Alan Kirby |
MD/
CEO |
950 |
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Mr.
Nigel Waallin |
Director |
50 |
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Mr. Reuben Ndegwa |
Director |
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Mr. Keith Twort |
Manager |
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Mrs. Esther W. Mburu |
Manager |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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1 in |
Branches of the firm |
OPERATIONS
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Registered to operate as
air and sea freighters, services such as warehousing and other transportation
services |
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Imports: |
Worldwide |
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Exports: |
Neighboring countries |
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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: |
Security, importers, exporters firms |
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Employees: |
100 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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180,000,000 |
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Net Profit (Loss) |
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10,000,000 |
BANK
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Bank Name: |
ECO
BANK |
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Comments: |
Overdraft None,
Promissory notes- None |
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TRADE REFERENCES |
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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. David Alan
Kirby, Mr. Nigel Waallin, and Mr. Reuben Ndegwa
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
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: 18/11/2008
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.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%)