MIRA INFORM REPORT
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Report Date : |
08.12.2011 |
IDENTIFICATION DETAILS
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Name : |
RUZ DEVELOPERS LTD. |
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Registered Office : |
LR. No.
209/8405/10 Chiromo Road, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
12.04.2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Property Developers |
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No. of Employees
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20 persons |
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 50,000 |
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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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: RUZ DEVELOPERS LTD.
Requested Name: RUZ
DEVELOPERS LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: LR.
No. 209/8405/10 Chiromo Road, Nairobi
Postal Address: P.o. Box No. 2518
Nairobi
Country: Kenya
Phone: 254-20-441510
Fax: 254-20-441510
Email: None
Website: None
CREDIT OPINION
Financial
Index as of December 2010 shows subject firm with a medium risk of credit. We
recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 12/04/2005
Reg. Number: Nairobi
Nominal Capital KES. 1,000,000
Subscribed Capital KES. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Roshan Ali MD 1
Mrs. Shadia
Roshquah Director 1
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 as property developers
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 = 89.51 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 315,000,000
BANK
Bank Name: Paramount Bank Ltd.
Account No: 0040201020
Branch: Westlands
Branch, Nairobi
Comments:
Other Banks I & M BANK LTD
P.o. Box 30238-00100 Nairobi, Kenya
Account No: 0567001210
Mortgages 28/06/2004 KES.300,000,000
Asset Financed : All its assets Land No. 1/596 Nairobi, Kenya
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.51.45 |
|
UK Pound |
1 |
Rs.80.38 |
|
Euro |
1 |
Rs.69.12 |
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.