MIRA
INFORM REPORT
|
Report Date : |
25.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
GROUP FIVE
INTERNATIONAL PTY LTD |
|
|
|
|
Registered Office : |
13A 137 Pugu Road, Dar Es Salaam |
|
|
|
|
Country : |
Tanzania |
|
|
|
|
Financials (as on) : |
30.06.2006 |
|
|
|
|
Date of Incorporation : |
18.09.2002 |
|
|
|
|
Com. Reg. No.: |
44454 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Construction, Currently it
is undertaking the construction and extension of extensions to Bank of
Tanzania in Dar es Salaam and Zanzibar |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 1,000,000 |
|
|
|
|
Status : |
Good |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: GROUP FIVE INTERNATIONAL PTY LTD
Requested Name: Group Five
International Pty Ltd
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: 13A
137 Pugu Road, Dar Es Salaam,
Postal Address: P.o Box 3075
Dar Es Salaam,
Country: Tanzania
Phone: 255 22 2112095
Fax: 254-20-535290
Email: bot@g5.co.tz
Website: www.g5.co.tz
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit.. We recommend Credit of USD 1,000,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 18/09/2002
Reg. Number: 44454
Nominal Capital RS. 15,000
Subscribed Capital RS. 15,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Michael
van Rooyen MD/ CEO
Mr.
Julius Ndyetabula Director
Mr.
Michael Kelly Director
Mr.
Paul Le Sueur Director
Group
Five Construction (Pty) Ltd, SA Holding Company 150,000
RELATED COMPANIES
Group Five Construction
(Pty) Ltd, SA Parent company.
None Subsidiary company.
Group Five & Italframe Tanzania Limited Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate in
Construction, Currently it is undertaking the
construction and extension of extensions to Bank of
Tanzania in Dar es Salaam and Zanzibar,.
Imports: South
Africa
Exports: Zanzibar
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 200
employees.
Vehicles: 12
motor vehicles.
Territory of sales: Tanzania
Location: Rented
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Price
waterhouseCoopers
Insurance Brokers: Heritage
Assurance
FINANCE
Currency Reported: Tanzanian Shilling (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1248 Tanzanian Shilling
1
US Dollar = 8 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 Attached
Profit and Loss (expressed in TZS.)
2007
Sales 213,618,220,000
BANK
Bank Name: Stanbic Bank
Branch: Dar Es Salaam
Account Number: 011175501
Enquiry Amount: 1,000,000
Terms: 90 days
Bank Code: Code
-C which means good for normal Business Engagements
Comments: Overdraft None, Promissory notes- 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. in
September 2004, changed name from G5 Building East Pty Limited to G5
International (Pty) Limited
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.85 |
|
UK Pound |
1 |
Rs.76.60 |
|
Euro |
1 |
Rs.64.68 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)