MIRA INFORM REPORT
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Report Date : |
29.11.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
MULTI PACKAGING LTD |
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Registered Office : |
Viwandani, Likoni
Road Industrial Area, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
14.04.1983 |
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Com. Reg. No.: |
96833 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
manufacturers and Printers,
corrugated cartons etc |
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No. of Employees
: |
600 Persons |
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 350,000 |
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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
|
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: MULTI PACKAGING LTD
Requested Name: PRINTPAK
Other Names: PRINTPAK
ADDRESS AND TELECOMMUNICATION
Physical Address: Viwandani,
Likoni Road Industrial Area, Nairobi
Postal Address: P.o. Box 78354-00507
Nairobi,
Country: Kenya
Phone: 254-20-650520
Fax: 254-20-650525
Email: printpak@swiftkenya.com
Website: None
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 350,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 14
April-1983
Reg. Number: 96833
Nominal Capital KES. 150,000,000
Subscribed Capital KES. 150,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Bhagwanji Tribhovanbhai Patel MD 18.25%
Mr. Parag Bhagwanji Savan Director 9.00%
Mr. Jitu Tribhovan Savani Director 9.00%
Key Investments Ltd, UK Holding Company 63.75%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Plastic Products Co Ltd, Kenya Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate manufacturers and Printers, corrugated cartons etc
Imports: Asia, Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 600 employees.
Vehicles: Several motor
vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 20.000 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 = 90.80 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 780,000,000
BANK
Bank Name: BBK 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.98 |
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UK Pound |
1 |
Rs.80.59 |
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Euro |
1 |
Rs.69.12 |
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.