MIRA INFORM REPORT
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Report Date : |
06.12.2011 |
IDENTIFICATION DETAILS
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Name : |
A1 ENTERPRISES LTD. |
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Registered Office : |
Off Masauko Chipembere
Highway Maselema Area, Limbe |
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Country : |
Malawi |
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Date of Incorporation : |
06.08.2010 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
foods processing plant
registered to operate as manufacturers and distributors of biscuits |
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No. of Employees
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40 Persons |
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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Status : |
Satisfactory |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Malawi |
c1 |
c1 |
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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: A1 ENTERPRISES LTD.
Requested Name: A1
ENTERPRISES LTD.
Other Names: A1
BISCUITS
ADDRESS AND TELECOMMUNICATION
Physical Address: Off
Masauko Chipembere Highway Maselema Area, Limbe, Malawi
Postal Address: P.o. Box No. 5338, Maselema,
Limbe
Limbe
Country: Malawi
Phone: 265-1600444
Cell: 265-888208146
Fax: 265-1844927
Email: rab@rabmw.com
Website: None
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6/08/2010
Started 19/03/2011
Reg. Number: Blantyre Malawi
Nominal Capital MWK. 10,000,000
Subscribed Capital MWK. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Abdul Gaffar Aboo Jakhura MD
Mr. Hussein Aboo Jakhura Director
Mr. Abdul Rashid Aboo Jakhura
Mr. Mohamed Aboo Jakhura
Mr. Farook Mohamed Aboo Jakhura
Mr. Abdul Gaffar Aboo Jakhura Director
Holding Company
RELATED COMPANIES
None Parent company.
None Subsidiary company.
KULIMA GOLD DEPOTS MALAWI
RAB PROCESSORS LTD
RAB PROCESSORS
ZAMBIA LTD Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
foods processing
plant Registered to operate as manufacturers and distributors of biscuits
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 40
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Malawi
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information
not available.
FINANCE
Currency Reported: Malawian Kwacha (MWK.)
Approx. Ex. Rate: 1 US Dollar = 190 Malawian Kwacha
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 Submitted
MWK.
Profit and Loss (expressed in MWK.)
2011
Sales (projected) 164,000,000
BANK
Bank Name: COMMERCIAL BANK OF MALAWI LTD
Branch: Enterprise Rd, 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. Invested Capital is over MK 165,000,000
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.51.40 |
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UK Pound |
1 |
Rs.80.20 |
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Euro |
1 |
Rs.68.92 |
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.