MIRA INFORM
REPORT
|
Report Date : |
08.06.2011 |
IDENTIFICATION DETAILS
|
Name : |
AFRO INDIA EXIM LTD. |
|
|
|
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Registered Office : |
Baga Moyo, st, Dar
Es Salaam |
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|
|
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Country : |
Tanzania |
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|
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Date of Incorporation : |
01.01.2006 |
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|
|
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Legal Form : |
Limited Corporation |
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|
|
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Line of Business : |
dealers in general
merchandise such as food products and beverages |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 30,000 |
|
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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Tanzania |
b1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT'S NAME
Registered Name: AFRO INDIA EXIM LTD.
Requested Name: AFRO
INDIA EXIM LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Baga
Moyo, st, Dar Es Salaam
Postal Address: P.o. Box 19861 Dar Es Salaam
Dar Es Salaam
Country: Tanzania
Phone: 255-797371305
Fax: 255-797371305
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a medium
risk of credit. We recommend Credit of USD 30,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 01/01/2006
Reg. Number: Dar Es Salaam
Nominal Capital TZS. 1,000,000
Subscribed Capital TZS. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Ramachandran
Krishnan MD 100%
M N Krishnan 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 dealers in general merchandise such as food
products and beverages
Imports: Europe, Middle
East, Asia
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: General public
Employees: 20
employees.
Vehicles: 3
motor vehicles.
Territory of
sales: Tanzania
Location: Rented premises,
2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Tanzania Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1565 Tanzania 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 TZS.)
2010
Sales 1,850,000,000
BANK
Bank Name: STANBIC BANK
Branch: Tanzania
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.44.74 |
|
UK Pound |
1 |
Rs.73.25 |
|
Euro |
1 |
Rs.65.48 |
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.