MIRA INFORM
REPORT
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Report Date : |
21.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
STRATEGIC INDUSTRIES LIMITED |
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Registered Office : |
Raiply Complex, |
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Country : |
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Date of Incorporation : |
06.06.1984 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Distributors of Human hair Extension, wigs, wiglets. "Daring"
brand of hair extensions |
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 100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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: STRATEGIC INDUSTRIES LIMITED
Requested Name: STRATEGIC INDUSTRIES LIMITED
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Raiply
Complex,
Postal Address:
Country:
Phone: +254-20-650201/
554924/ 533772/ 202470675
Cell: +254-724969899
Fax: +254-20-530238/551386/
551385/ 556941
Email: info@darlingkenya.co.ke
Website: www.darlingkenya.biz
CREDIT OPINION
Financial Index as of December 2009 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6-Jun-1984
Reg. Number:
Nominal Capital KES. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr.
Mahmoud Saffideen GM
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
manufacturers and Distributors of Human hair Extension, wigs, wiglets. "Daring"
brand of hair extensions
Imports: Asia,
Europe and
Exports:
Trademarks: DARING,
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:
Location: Rented
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, 2010
Inflation: According
to information given by independent sources, the inflation at December
31st, 2010 was of 13%.
Financial
Information Submitted
KES.
Profit and Loss (expressed in KES.)
2010
Sales 2,450,000,000
Net Profit (Loss) 10,000,000
BANK
Bank Name: VICTORIA COMMERCIAL BANK LIMITED
Branch: Industrial Area
Account Number: 301827016
Enquiry Amount: 100,000
Terms: 90 days
Bank Code: Code
-C which means good for normal Business Engagements
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.45.58 |
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1 |
Rs.72.73 |
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Euro |
1 |
Rs.61.45 |
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 |
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.