MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
CONSTRUCTION
EQUIPMENT AFRICA LTD |
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Registered Office : |
Plot 94, |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.12.2000 |
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Com. Reg. No.: |
40548 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Maintenance of Generators, Distributors of Spare Parts, 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 600,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: CONSTRUCTION EQUIPMENT AFRICA LTD
Requested Name: Construction
Equipment Africa Ltd
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
94,
Postal Address: P.o
Country:
Phone: 255-22-2866310
Fax: 255-22-2866313
Email: ray@equipafrica.com
Website: www.equipafrica.com
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 600,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 01-Dec-2000
Reg. Number: 40548
Nominal Capital TZS. 240,000,000 Divided into
Shares of 500 each TZS 48,000
Subscribed Capital TZS. 240,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Robert Thompson MD/ CEO 350
Mr.
Raymond Orr Director 125
Mr.
S.G. Mmbando Director 25
Mr. Kenneth
Thompson Director
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 as manufacturers and maintenance
of Generators, distributors of spare parts, etc
Imports:
Exports: None
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 210
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Owned
premises, 26.000 square feet,
AUDITORS AND INSURANCE
Auditors: Assad
Associates
Insurance Brokers: Alexander
Forbes
FINANCE
Currency Reported:
Approx. Ex. Rate: 1 US Dollar = 1253 South African
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 TZS.)
2007
Sales 5,440,000,000
Net Profit (Loss) 95,000,000
BANK
Bank Name: Standard
Chartered Bank
Branch:
Enquiry Amount: 500,000
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.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)