MIRA INFORM
REPORT
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Report Date : |
16.05.2011 |
IDENTIFICATION DETAILS
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Name : |
EAST AFRICA BOTTLING CO |
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Registered Office : |
287/288 Dejazmach Balcha Aba Nefso Street,Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
27.03.1978 |
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Com. Reg. No.: |
14562 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in soft drinks and other related beverages |
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 100,000 |
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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 – December 31, 2010
|
Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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Ethiopia |
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: EAST AFRICA BOTTLING CO
Requested Name: EAST
AFRICA BOTTLING CO
Other Names: EAST
AFRICA BOTTLING SHARE COMPANY
ADDRESS AND TELECOMMUNICATION
Physical Address: 287/288 Dejazmach Balcha Aba Nefso Street,Addis
Ababa
Postal Address: P.o. Box 1346
Addis Ababa
Country: Ethiopia
Phone: 251-1756114/
134695
Fax: 251-1753152
Email: eabschr@ccsabco.co.za
Website: www.eabsc.com
CREDIT OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. We recommend
Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 27/03/1978
Reg. Number: 14562
Nominal Capital ETB. 400,000,000
Subscribed Capital ETB. 400,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Izan Bombom MD
Murray Loggie Director
Achieng Butler Director
Judy Kiruri Director
Nebat Abbass Director
South African Beverage Company Holding Company 73.00%
Negussie Hailu Shareholder 9.25%
Munir Duri Shareholder 9.25%
Dereje Yesuwork Shareholder 9.25%
Abinet G. Meskel Shareholder 9.25%
RELATED COMPANIES
Coca Cola Sabco Group Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Major towns in Ethiopia Branches of the firm
OPERATIONS
Registered to operate as dealers in soft drinks and other related
beverages
Imports: Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Distribution
firms and organizations
Employees: 300 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Ethiopia
Location: Owned premises,
50.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Ethiopian Birr (ETB.)
Approx. Ex. Rate: 1 US Dollar = 16.87 Ethiopian Birr8/
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 Submitted
ETB.
Profit and Loss (expressed
in ETB.)
2010
Sales 585,000,000
BANK
Bank Name: Dashen Bank
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
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Indian Rupees |
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US Dollar |
1 |
Rs.44.91 |
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UK Pound |
1 |
Rs.73.06 |
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Euro |
1 |
Rs.64.03 |
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.