MIRA INFORM
REPORT
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Report Date : |
04.07.2011 |
IDENTIFICATION DETAILS
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Name : |
SHUMUK PROPERTIES LTD. |
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Registered Office : |
Plot No. 43/44,
Nabugabo Rd |
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Country : |
Uganda |
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Date of Incorporation : |
05.06.1996 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Real Estate Property managers and Developers |
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 : |
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Uganda |
b2 |
b2 |
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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 |
Bottom of Form
SUBJECT'S NAME
Registered Name: SHUMUK PROPERTIES LTD.
Requested Name: SHUMUK
PROPERTIES LTD.
Other Names: SPL
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
No. 43/44, Nabugabo Rd
Postal Address: P.o. Box No. 6552,
Kampala
Country: Uganda
Phone: 256-414-235650
Fax: 256-414-344563
Email: krsna@africaonline.co.ug/
spl@shumukgroup.net
Website: www.shumukgroup.com
CREDIT OPINION
Financial Index as of December 2010 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: 5-June-1996
Reg. Number: Kampala, Uganda
Nominal Capital UGS. 50,000,000
Subscribed Capital UGS. 50,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mukesh Shukla MD/ CEO
Mr. Sushil Chandra Director
Mr. Chirag Dave Director
SHUMUK Group of
Companies Holding Co.
RELATED COMPANIES
SHUMUK Group of Companies Parent company.
None Subsidiary company.
Shumuk Aluminum Industry
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 as Real Estate Property managers and Developers
Imports: None
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: Uganda
Location: Rented
premises, 1.000 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
Profit and Loss (expressed in UGS.)
2010
Sales 1,450,000,000
BANK
Bank Name: BANK
OF BARODA (U) LTD,
Comments: None
Other Bank Name: Stanbic
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.59 |
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UK Pound |
1 |
Rs.71.75 |
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Euro |
1 |
Rs.64.80 |
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.