MIRA INFORM
REPORT
|
Report Date : |
04.07.2011 |
IDENTIFICATION DETAILS
|
Name : |
SHUMUK ALUMINIUM INDUSTRIES LTD |
|
|
|
|
Registered Office : |
Plot No.24,Mukabya
road, Nakowa Industrial Area, Kampala |
|
|
|
|
Country : |
Uganda |
|
|
|
|
Date of Incorporation : |
11.10.1984 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
manufacturers and distributors of aluminium sheets, household utensils, saucepans, kettles and other items |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 100,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
No Complaints |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Uganda |
b2 |
b2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Bottom of Form
SUBJECT'S NAME
Registered Name: SHUMUK ALUMINIUM INDUSTRIES LTD
Requested Name: SHUMUK
ALUMINIUM INDUSTRIES LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
No.24,Mukabya road, Nakowa Industrial Area, Kampala
Postal Address: P.o. Box 6552,
Kampala
Country: Uganda
Phone: 256-414-505974/ 286282
Fax: 256-414-286282/ 286552/ 505975
Email: shumuk@shumukgroup.net
/ krsna@africaonline.co.ug
Website: www.shumukgroup.net
CREDIT OPINION
Financial Index as of December 2010 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: 11-Oct-1984
Reg. Number: Kampala,
Uganda
Nominal Capital UGS. 416,000,000 (Share:416,000 @ UGS. 1,000)
Subscribed Capital UGS. 412,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mukesh Shukla MD/ CEO
Mr. Sushil Chandra Director
SHUMUK Group of
Companies Holding Co. 100%
RELATED COMPANIES
SHUMUK Group of
Companies Parent company.
None Subsidiary company.
Shumuk Properties Ltd.,
Shumuk Investments Ltd.,
Shumuk Forex Bureau.,
Kigali Steel &
Aluminium Works Ltd.,
Shumuk Tours & Travel,
Shumuk Dairy Products (U)
Ltd,
Springs International Hotel Ltd. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate manufacturers and distributors of aluminium
sheets, household utensils, saucepans, kettles and other items.
Imports: Asia,
South Africa, UAE
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 130
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Uganda
Location: Owned
premises, 52.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Uganda Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2600 Uganda 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
UGS.
Profit and Loss
(expressed in UGS.)
2010
Sales 2,450,000,000
BANK
Bank Name: BANK
OF BARODA (U) LTD,
Comments: 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
|
UK Pound |
1 |
Rs.71.75 |
|
Euro |
1 |
Rs.64.80 |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.