MIRA INFORM
REPORT
|
Report Date : |
31.05.2011 |
IDENTIFICATION DETAILS
|
Name : |
ALAF LIMITED |
|
|
|
|
Registered Office : |
Plot 18, Nyerere
Rd, Industrial Area, Dar Es Salaam |
|
|
|
|
Country : |
Tanzania |
|
|
|
|
Date of Incorporation : |
17.10.1960 |
|
|
|
|
Com. Reg. No.: |
2604 Dar Es Salaam, Tanzania |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Manufacturer of Steel and aluminium products |
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 : |
No Complaints |
|
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 |
Bottom of Form
SUBJECT'S NAME
Registered Name: ALAF LIMITED
Requested Name: ALAF
LIMITED
Previous Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
18, Nyerere Rd, Industrial Area, Dar Es Salaam,
Postal Address: P.o. Box No. 2070 Dar Es Salam
Dar-Es-Salaam,
Country: Tanzania
Phone: +255 22 2860010-14/ / 2863306/ 2860369
Fax: +255-22-2864690/ 2863077
Email: alaf@aluminiumafrica.com
Website: www.aluminiumafrica.com
CREDIT OPINION
Financial Index as of
December 2009 shows subject firm with a medium risk of credit. We recommend
Credit of USD 150,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 17/10/1960
Reg. Number: 2604
Dar Es Salaam, Tanzania
Nominal Capital TZS.
15,000,000,000
Subscribed Capital TZS. 2,471,228,760
Subscribed Capital is Subscribed in the following form:
Position Shares
Dr. M. P.
Chandaria MD
Mr. Hirji Shah Director
Mr. S. Chandara Director
Mr. S. N. Salgar Director
Clovis Company
Ltd, Bermuda Holding Company 59.89%
Government of
Tanzania Shareholder 40.11%
RELATED COMPANIES
Clovis Company Ltd, Bermuda Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as Manufacturer of Steel and aluminium products
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 60
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Owned
premises, 5.000 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 = 1500 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 Submitted
TZS.
Profit and Loss (expressed in TZS.)
2010
Sales TZS.48,215,000,000
Net Profit (Loss)
BANK
Bank Name: NATIONAL BANK OF COMMERCE (1997)
LTD
Branch: Foreign Branch,
P.o Box 9134, Dar Es Salaam
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.
Affiliated Companies
·
BOOTH MANUFACTURING (AFRICA)
LTD
·
EAST AFRICAN MATCH COMPANY (K)
LTD
·
ESLON PLASTICS OF KENYA LTD
·
GALAXY PAINTS COMPANY LTD
·
GALSHEET KENYA LTD
·
INSTEEL LIMITED
·
KALU WORKS LTD:
·
KENYA ALUMINIUM AND INDUSTRIAL
WORKS LTD
·
KENYA UNITED STEEL COMPANY LTD
·
MABATI ROLLING MILLS LTD
·
METOXIDE (AFRICA) LTD
·
SIGNODE KENYA LTD
·
STEEL AFRICA LTD
·
SIMBA PRODUCTS LTD
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.10 |
|
UK Pound |
1 |
Rs.74.27 |
|
Euro |
1 |
Rs.64.35 |
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.