MIRA
INFORM REPORT
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Report Date : |
13.01.2011 |
IDENTIFICATION DETAILS
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Name : |
MENENGAI STORE LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
25.03.1985 |
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Com. Reg. No.: |
108160 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importers, wholesalers and retailers of Hardware, Sundry goods, Bicycle spares and tools. |
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 : |
Unknown |
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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: MENENGAI STORE LTD.
Requested Name: MENENGAI STORE
LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address:
Postal Address: P.o. Box 38750-00600
Country:
Phone: +254-20-2240887/762817
Fax: +254-20-2246460
Email: None
Website: None
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.
If we do not
provide an amount, then your maximum limit will suffice.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 25/03/1985
Reg. Number: 108160
Nominal Capital KES. 20,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Velji Bhamal Gudka Director
Mr. Anil Bhamal Gudka Director
Mr. Bharat Bhamal Gudka 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 as importers,
wholesalers and retailers of Hardware, Sundry goods, Bicycle spares and
tools. .
Imports:
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Rented
premises, 2.000 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.)
2010
Sales 113,373,000
BANK
Bank Name: BIASHARA BANK,
Branch:
Comments: Overdraft None, Promissory notes- 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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.16 |
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1 |
Rs.70.64 |
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Euro |
1 |
Rs.58.68 |
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.