MIRA INFORM REPORT
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Report Date : |
05.11.2011 |
IDENTIFICATION DETAILS
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Name : |
SPRING INTERNATIONAL HOTEL LTD |
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Registered Office : |
Plot No. 2,
Colville Street, Kampala |
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Country : |
Uganda |
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Date of Incorporation : |
15.08.1995 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
providers of hotel, conference facilities, accommodation, and Catering services |
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 100,000 |
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Status : |
Satisfactory |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Uganda |
b2 |
b2 |
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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: SPRING INTERNATIONAL HOTEL LTD
Requested Name: SPRING
INTERNATIONAL HOTEL LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
No. 2, Colville Street, Kampala
Postal Address: P.o. Box No. 6552
Kampala
Country: Uganda
Phone: 256-312-370782
Cell: 256-752747513/781453893/757747505
Fax: 256-414-255288
Email: springshotel@shumukgroup.com
Website: www.shumukgroup.net
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 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 15/8/1995
Reg. Number: Kampala,
Uganda
Nominal Capital UGS. 20,000,000
Subscribed Capital UGS. 20,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mukesh Shukla MD
Mr. Sushil Chandra Director
Clovis co. Ltd,
Bermuda Holding Company
RELATED COMPANIES
None Parent company.
None Subsidiary company.
SHUMUK ALUMINUM INDUSTRY
LTD.
SHUMUK PROPERTIES LTD,
SHUMUK INVESTMENTS LTD,
SHUMUK FOREX BUREAU,
KIGALI STEEL &
ALUMINIUM WORKS LTD,
SHUMUK TOURS & TRAVEL,
SHUMUK DAIRY PRODUCTS (U) LTD. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as providers of hotel, conference
facilities, accommodation, and Catering services
Imports: Asia,
Europe
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and
25-90 days (60%), invoices.
Main
Customers: General Public
Employees: 100 employees.
Vehicles: Several motor
vehicles.
Territory of
sales: Uganda
Location: Owned
premises, 100.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Uganda Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2645.05 Uganda 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 UGS.)
2010
Sales 450,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Kampala, Uganda
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.08 |
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UK Pound |
1 |
Rs.78.65 |
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Euro |
1 |
Rs.67.79 |
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.