MIRA INFORM
REPORT
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Report Date : |
31.01.2011 |
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Tel. No.: |
222850857 |
IDENTIFICATION DETAILS
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Name : |
EAST COAST OILS AND FATS LTD. |
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Registered Office : |
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Country : |
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Date of Incorporation : |
11.02.2003 |
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Com. Reg. No.: |
45350 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Distributors of Crude Vegetable Oil & Soap |
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 : |
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: EAST COAST OILS AND FATS LTD.
Requested Name: EAST
COAST OILS AND FATS LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address:
Postal Address: P.o
Country:
Phone: + 255 22 285 0857/285 0860 / 285
1175
Cell: +255 755 030 101
Fax: +255 22 285 1174 /285 1175
Email: vijay@metl.net
Website: www.metl.net
CREDIT OPINION
Financial Index as of
December 2009 shows subject firm with a medium risk of credit. We recommend
Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 11th Feb, 2003
Reg. Number: 45350
Nominal Capital TZS. 10,000,000,000
Subscribed Capital TZS. 100,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Mohammed Gulam Abbas Director 60%
Mrs. Zubeda Gulamabbas Dewji Director 40%
Mr. Hussein Dewji Director
Mr. Vijay Raghvan Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
21st Century Food &
Packaging Ltd
21st Century Textiles Ltd
A One Products and Bottlers
Ltd
Afritex Limited
East Coast Liquid Storage
Ltd
Mohammed Enterprises Tanzania Ltd Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as Manufacturers and Distributors of Crude
Vegetable Oil & Soap
Imports:
Exports:
Trademarks: None
Terms of sale: Cash
(40%) and 30days (60%), invoices.
Main Customers: firms
and organizations
Employees: 340
employees.
Vehicles: Several
motor vehicles.
Territory of
sales:
Location: Owned
premises, 52.000 square feet,
AUDITORS AND INSURANCE
Auditors: M/s Shabrila & Co.
Insurance Brokers: AIG
FINANCE
Currency Reported:
Approx. Ex. Rate: 1 US Dollar = 1300
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
TZS.
Profit and Loss (expressed in TZS.)
2010
Sales 65,541,828,527
Net Profit (Loss)
BANK
Bank Name: Stanbic Bank (T) Ltd.
Branch:
Comments: Good
Other Bankers CRDB Bank (T) Ltd.
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.45.74 |
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1 |
Rs.72.73 |
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Euro |
1 |
Rs.62.73 |
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.