MIRA
INFORM REPORT
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Report Date : |
30.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIC TANZANIA LTD |
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Registered Office : |
P.o Box 2929 Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
30.11.1993 |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Providers of Wireless Telecommunications 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
MIC TANZANIA LTD
Other Names: TIGO
Former name MOBITEL
Principal Address
P.o Box 2929 Dar Es Salaam, Tanzania
Telephone: +255-713800800/262701290/222126510,
Fax: +255-741800800/
1123064
Email: customercare@tigo.co.tz
Internet: www.tigo.co.tz
Established
30/11/1993
Registration
Dar Es Salaam, Tanzania
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
300
Office & Factories
Head offices Lugoda Street,Dar Es Salaam, Tanzania
Branches Arusha, Moshi, Dodoma, Morogoro, Tanga,
Mwanza in Tanzania
Company Profile
Paid in Capital TZS. 50,000,000
Subscribed Capital TZS. 50,000,000
Shareholders
Name Position Amount
Ratio
Marc Beuls Director
Daniel Johannesson Director
Michel Massart Chairman
Millicom
international cellular SA Shareholder 100.00%
Total 100.00%
Credit Opinion
Our proposed
credit amount of USD 100,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Marc Beuls |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Daniel Johannesson |
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Providers of
wireless telecommunications services
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various.
Customers
Distributors, outlets &
Public
Recent Sales
USD. 119,148,250 (2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
18.0%
Banking relationship
Main Banks CRDB Bank
Stanbic Bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale: In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING: Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 100,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.94 |
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UK Pound |
1 |
Rs.85.57 |
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Euro |
1 |
Rs.67.79 |
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%)