MIRA INFORM REPORT
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Report Date : |
22.11.2011 |
IDENTIFICATION DETAILS
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Name : |
ORBIT CHEMICALS INDUSTRIES LTD |
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Registered Office : |
Off Mombasa Road,
Athi River, Mlolongo, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
13.04.1972 |
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Com. Reg. No.: |
10798 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importers, Wholesalers, & Distributors of Agro-chemicals, Fertilizers, industrial chemicals, etc. |
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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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 – September 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Kenya |
b1 |
b1 |
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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: ORBIT CHEMICALS INDUSTRIES LTD
Requested Name: ORBIT
CHEMICALS INDUSTRIES LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Off
Mombasa Road, Athi River, Mlolongo, Nairobi,
Postal Address: P O Box 48870 -00100
Nairobi,
Country: Kenya
Phone: 254-20-820060/61/4381441/821646-8/821625
Fax: 254-20-821624
Email: orbit@orbitchem.com
Website: www.orbitchem.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.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 13-April-1972
Reg. Number: 10798
Nominal Capital KES. 200,000,000
Subscribed Capital KES. 200,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Jaswinder Bedi Director
Mr. Shantilal R. Shah Director
Whitecroft Global Services Shareholder 250,000
TQ Chemicals (Pty) Limited, Mauritius Holding Co 9,750,000
RELATED COMPANIES
TQ Chemicals (Pty) Limited, Mauritius Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as importers, wholesalers, & distributors of
Agro-chemicals, Fertilizers, industrial chemicals, etc.
Imports: Europe, Asia and
South Africa
Exports: Uganda and
Tanzania (10%)
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 200 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Kenya
Location: Owned premises,
50.000 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 = 90.70 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 715,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Nairobi, Kenya
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.51.72 |
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UK Pound |
1 |
Rs.81.42 |
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Euro |
1 |
Rs.68.89 |
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.