MIRA INFORM
REPORT
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Report Date : |
03.01.2011 |
IDENTIFICATION DETAILS
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Name : |
UNEECO PAPER PRODUCTS LTD |
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Registered Office : |
Ground Floor,
Eagle House, |
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Country : |
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Date of Incorporation : |
26.10.1984 |
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Com. Reg. No.: |
28424 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
manufacturers,
Distributors, Importers & Wholesalers of paper, organic inks, printing plates and other
similar products |
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 50,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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: UNEECO PAPER PRODUCTS LTD
Requested Name: UNEECO
PAPER PRODUCTS LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Ground
floor, Eagle house,
Postal Address:
Country:
Phone: +254-41-3433494
Fax: +254-41-3434071
Email: info@ameeco.com
or uneeco.nrb@ameeco.com
Website: www.ameeco.com
CREDIT OPINION
Financial Index as of December
2009 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: 26/10/1984
Reg. Number: 28424
Nominal Capital KES. 20,000,000
Subscribed Capital KES. 18,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Ibrahim Jagani Director 1
Mr. A E Jagani Director
Ameeco Holdings
Limited Holding Company 17,999
RELATED COMPANIES
Ameeco Holdings
Limited Parent company.
None Subsidiary company.
AMEECO INVESTMENT COMPANY
LTD
MOTOREECO AUTO SPARES LTD
UNEECO INDUSTRIES LTD
WELDQUIP & PRODUCTS LTD Affiliated company.
None Shareholder of subject firm.
OPERATIONS
Registered to operate as manufacturers, Distributors,
importers & wholesalers of paper, organic inks, printing plates and other
similar products.
Imports: Asia,
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 60 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 60
employees.
Vehicles: Several
motor vehicles.
Territory of
sales:
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 80.50 Kenyan Shillings
Fiscal Year End: December
31, 2009
Inflation: According to information
given by independent sources, the inflation at December 31st, 2009 was of
13%.
Financial
Information Submitted
KES.
Profit and Loss (expressed in KES.)
2009
Sales 364,850,000
Net Profit (Loss)
BANK
Bank Name: Credit Agricole Indosuez
Comments: Overdraft None, Promissory notes- None
Other Bankers Barclays Bank
Habib Bank
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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.44.81 |
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1 |
Rs.59.81 |
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Euro |
1 |
Rs.69.29 |
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.