MIRA INFORM
REPORT
|
Report Date : |
09.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
AUTO ANCILLARIES LTD. |
|
|
|
|
Registered Office : |
Behind Fire
Station Off Enterprise Rd, Nairobi |
|
|
|
|
Country : |
Kenya |
|
|
|
|
Date of Incorporation : |
13.04.1977 |
|
|
|
|
Com. Reg. No.: |
15634 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Manufacture
automobile leaf springs ‘U’ bolts, wheel studs and centre bolts |
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 150,000 |
|
Status : |
Satisfactory |
|
Payment
Behaviour : |
Regular |
|
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
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
|
Kenya |
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: AUTO ANCILLARIES LTD.
Requested Name: AUTO
ANCILLARIES LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Behind
Fire Station Off Enterprise Rd, Nairobi
Postal Address: P.o. Box 58855-00200
Nairobi
Country: Kenya
Phone: 254-20-2311375/
554092
Fax: 254-20-650305
Email: 4,000,000
Website: www.autoancillariesfzc.com
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 150,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 13th April, 1977
Reg. Number: 15634
Nominal Capital KES. 4,000,000
Subscribed Capital KES. 4,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Manjit Singh
Uberoi MD
Mr. David Nderu Director 30,000
Mr. Harprit Singh
Uberoi 30,000
M/S Bolton India
Limited Shareholder 90,000
Mr. Moses Wambua
Mutua Shareholder 40,000
Mr. Harkanwa .S.
Uberoi Shareholder 10,000
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Time Machine Holdings Corp
(British Virgin Islands) established 1995
Kobe Suspensions Co (New
Delhi, India) established 1978
Bolton India (New Delhi,
India) established 1965
Auto Ancillaries (PYT)Ltd (Botswana) established 1999 Affiliated company.
None Shareholder of subject firm.
Mombasa in Kenya Branches of the firm
OPERATIONS
Registered to Manufacture automobile leaf springs ‘U’ bolts,
wheel studs and centre bolts.
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 70
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 84.25 Kenya 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 KES.)
2010
Sales 325,000,000
BANK
Bank Name: Bank Of India
Giro Commercial Bank 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.44.78 |
|
UK Pound |
1 |
Rs.73.43 |
|
Euro |
1 |
Rs.65.27 |
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.