MIRA INFORM
REPORT
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Report Date : |
27.04.2011 |
IDENTIFICATION DETAILS
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Name : |
CONKEN CARGO FORWADING LTD |
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Registered Office : |
Mohdhar Habib off Moi Ave, Union Bldg, 2nd,
Mombasa Coast |
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Country : |
Kenya |
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Date of Incorporation : |
12.06.2005 |
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Com. Reg. No.: |
215442 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Cargo Handling, Forwarding and Custom Clearance |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD 20,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Kenya |
b1 |
b1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT'S NAME
Registered Name: CONKEN CARGO FORWADING LTD
Requested Name: CONKEN
CARGO FORWADING LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Mohdhar
Habib off Moi Ave, Union Bldg, 2nd
Mombasa
Coast
Postal Address: P.o. Box 2832
Mombasa
Country: Kenya
Phone: 254-41-2226476
Fax: 254-41-2313125
Email: conken@africaonline.co.ke
Website: None
CREDIT OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. We recommend
Credit of USD 20,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 12-Jun-2005
Reg. Number: 215442
Nominal Capital KES. 100,000
Subscribed Capital KES. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
M Ahmed Director
R Ruto 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 cargo handling, forwarding and custom clearance
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 83.85 Kenya Shillings
Fiscal
Year End: December 31, 2010
Inflation: According to
information given by independent sources, the inflation at December 31st,
2010 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in KES.)
2010
Sales 125,000,000
BANK
Bank Name: Barclays Bank
Branch: Mombasa
Comments: 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
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|
1 |
Rs.73.44 |
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Euro |
1 |
Rs.64.81 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.