MIRA
INFORM REPORT
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Report Date : |
08.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
THE BUILDING KENYA LTD |
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Registered Office : |
P.O Box 45299 |
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Country : |
Kenya |
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Date of Incorporation : |
30.3.1995 |
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Com. Reg. No.: |
No. 64121 Kenya |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Importers and Retailers of Hardware 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 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
THE BUILDING KENYA
LTD
Principal Address
P.o Box 45299 Kenya
Telephone: +254-20-4442304/6
Fax: +254-20-4442306
Email: None
Internet: None
summary
Established: 30/3/1995
Registration: No. 64121 Kenya
Legal Form: Limited
Liability Company, Limited by shares
Stock Listing: Not Listed
Workforce
2007
10
Office & Factories
Head offices Lr 209/4914 jubilee Ins. Exchange building, 2nd
floor, Mama Ngina street
Branches None
Company Profile
Paid in Capital KSHS. 10,000,000
Subscribed Capital KSHS. 9,650,000
Shareholders
Name Position Amount
Ratio
Rafiq Shariff CEO
Noordin Sultanali
sheriff Director
Nicholas tetance
Duggan Director
Ashton Investment
Ltd Holding Co. 6,433 66.66%
UBMo Group Ltd Shareholder 3,217 33.34%
Total 9,650 100.00%
Credit Opinion
Our proposed
credit amount of USD 120,000 is recommendable
Affiliated Companies
Company (1) ZYLOG ENTERPRISES
LTD
Company (2) PLUTO HOLDINGS LTD
Management/ Directors
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President/
CEO (1) |
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Name |
Rafiq Shariff |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Noordin Sultanali sheriff |
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
Importers &
Retailers of hardware etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Distributors &
Companies
Recent Sales
KSHS. 140,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks I&M Bank
Overdraft/ Loans Bal. KSHS. 45,000,000 (as of Jun. 14, 2004)
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 120,000 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.48.72 |
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UK Pound |
1 |
Rs.82.17 |
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Euro |
1 |
Rs.65.90 |
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%)