MIRA INFORM
REPORT
|
Report Date : |
10.08.2011 |
IDENTIFICATION DETAILS
|
Name : |
ELGON KENYA LTD |
|
|
|
|
Registered Office : |
Masai
Road, Off Mombasa Road, Industrial Area |
|
|
|
|
Country : |
Kenya |
|
|
|
|
Date of Incorporation : |
11.03.1953 |
|
|
|
|
Com. Reg. No.: |
5134 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
manufacturers and Distributors of Packaging Materials, Agricultural Products, chemicals and prefabricated buildings etc |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 100,000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment
Behaviour : |
No Complaints |
|
|
|
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Kenya |
b1 |
b1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT'S NAME
Registered Name: ELGON KENYA LTD
Requested Name: ELGON
KENYA LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Masai
Road, Off Mombasa Road, Industrial Area
Postal Address: P.o Box 46826-00100
Nairobi
Country: Kenya
Phone: 254-20-6534410/6534810/2399997/8
Cell: +254-722-203089/
+254-733-699992
Fax: 254-20-534410
Email: info@elgonkenya.com
Website: www.elgonkenya.com
CREDIT OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. We recommend
Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Founded 11/03/1953
Reg. Number: 5134
Nominal Capital KES 10,000,000 Divided into
shares of 10,000 each KES 1000
Subscribed Capital KES 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Rajnikant
Hanalal Kantaria MD/ CEO 1
Mr. Bimal
Rajnikant Kantaria Director
Mr. Baiju
Rajnikant Kantaria Director
Andee Holdings
Limited Shareholder 9,999
RELATED COMPANIES
Andee Holdings
Limited Parent company.
None Subsidiary company.
Elgon Chemicals Ltd
Gordhandas Dharamshi &
Brothers Ltd
Optimum Lubricants Limited
Dharamshi & Bro Ltd
Prestige Packaging Limited
Packwell Industries Limited Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as manufacturers and Distributors of Packaging
Materials, Agricultural Products, chemicals and prefabricated buildings etc
Imports: Asia
and Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(60%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 50.000 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 = 90 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 KES
Sales 310,000,000
BANK
Bank Name: Middle East Bank Limited
Branch: P.o. Box 47387, Nairobi.
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.45.17 |
|
UK Pound |
1 |
Rs.73.72 |
|
Euro |
1 |
Rs.64.26 |
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 |
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 |
|
---- |
NB |
New Business |
---- |
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.