MIRA INFORM
REPORT
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Report Date : |
16.06.2011 |
IDENTIFICATION DETAILS
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Name : |
AGRICULTURE EQUIPMENTS LTD. |
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Registered Office : |
Konfuzi Road,
Area 2, Lilongwe |
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Country : |
Malawi |
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Date of Incorporation : |
21.03.1997 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in
agricultural equipment and supplies |
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 80,000 |
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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) |
|
Malawi |
c1 |
c1 |
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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: AGRICULTURE EQUIPMENTS LTD.
Requested Name: AGRICULTURE
EQUIPMENTS LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Konfuzi
Road, Area 2, Lilongwe, Malawi
Postal Address: P.o. Box. 1223,
Lilongwe
Country: Malawi
Phone: 265-1-727098/ 724624
Fax: 265-1-724618
Email: cap@globemw.net
Website: None
CREDIT OPINION
Financial Index as of December
2010 shows subject firm with a medium risk of credit. We recommend Credit of
USD 80,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 21/3/1997
Reg. Number: Lilongwe, Malawi
Nominal Capital MWK. 1,000,000
Subscribed Capital MWK. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Rajesh N Patel Director
Ms Theresa van
Tonder Admin
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Several Companies (names Declined) Affiliated company.
None Shareholder of subject firm.
1 branch in
Blantyre - Malawi Branches of the firm
OPERATIONS
Registered to operate as dealers in agricultural equipment and supplies
Imports: ASia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Malawi
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Malawian Kwacha (MWK.)
Approx. Ex. Rate: 1 US Dollar = 170 Malawian Kwacha
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 MWK.)
2010
Sales 540,000,000
BANK
Bank Name: Stanbic Bank
Branch: Lilongwe
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.44.68 |
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UK Pound |
1 |
Rs.73.05 |
|
Euro |
1 |
Rs.64.29 |
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.