MIRA INFORM
REPORT
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Report Date : |
21.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SHIRE LIMITED |
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Registered Office : |
Limbe |
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Country : |
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Date of Incorporation : |
06.12.1969 |
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Com. Reg. No.: |
4125 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in office furniture, doors, built-in kitchens, shop fittings, frames, specialists in office partitioning and other related facilities |
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 80,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUBJECT'S NAME
Registered Name: SHIRE LIMITED
Requested Name: SHIRE
LIMITED
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address:
Postal Address:
Limbe
Country:
Phone: 265-1-845011/2/3/844031
Fax: 265-1-843403/
845225
Email: shireltd@shiremw.com / hitesh@shiremw.com
Website: None
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 80,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6-Dec-1969
Reg. Number: 4125
Nominal Capital MWK. 50,000,000
Subscribed Capital MWK. 50,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Faisal Kassam MD
Hitesh kumar Patel Manager
Globe Group of
Companies Holding Company
RELATED COMPANIES
Globe Group of
Companies Parent company.
None Subsidiary company.
Business Machines Limited
Central Poultry (2000)
Limited
Globe Brick and Tile
Limited
Globe Computer System
Limited
Globe Electronics Limited
Globe Internet Limited
Jacaranda Properties
Lloyds Travel Centre
Manobec Limited
Martins and Noronha Limited
Rainbow Paints
Universal Borehole Drillers
Limited
Universal Car Sales Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in office furniture, doors, built-in
kitchens, shop fittings, frames, specialists in office partitioning and other
related facilities
Imports:
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 100 employees.
Vehicles: Several motor
vehicles.
Territory
of sales:
Location: Owned premises, 5000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported:
Approx. Ex. Rate: 1 US Dollar = 150
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 800,000,000
BANK
Bank Name: NATIONAL BANK
Branch: Limbe,
Comments: Good
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.45.09 |
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1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
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.