MIRA INFORM REPORT
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Report Date : |
17.09.2011 |
IDENTIFICATION DETAILS
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Name : |
JAMBO PLASTICS LTD. |
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Registered Office : |
Plot 2360/75/d, Nyerere
Road (Near Dt Dobie), Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
10.01.1996 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and Distributors of Plastics and allied products etc |
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 50,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Tanzania |
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: JAMBO PLASTICS LTD.
Requested Name: JAMBO
PLASTICS LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
2360/75/d, Nyerere Road (Near Dt Dobie), Dar Es Salaam,
Tanzania
Postal Address: P.o. Box 40337,
Dar Es Salaam
Country: Tanzania
Phone: +255-22-2865864 / 2865868
Fax: +255-22-2864760
Email: sales@jamboplastics.com
Website: www.jamboplastics.com
CREDIT OPINION
Financial Index as of
December 2009 shows subject firm with a medium risk of credit. We recommend
Credit of USD 50,000 on 30 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 10/01/1996
Reg. Number:
Dar Es Salaam, Tanzania
Nominal Capital TZS. 10,000,000
Subscribed Capital TZS. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Manoj Suchak MD
Mr. Nimesh
Kantilal Suchak Director
Mr. Reddy Narramalla Accountant
Holding Company
RELATED COMPANIES
None Parent company.
None Subsidiary company.
SUCHAK PLASTICS LTD. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as Manufacturers and Distributors of Plastics and
allied products etc
Imports: ASia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information
not available.
FINANCE
Currency Reported: Tanzanian Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar =1300 Tanzanian 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 6,752,000,000
BANK
Bank Name: BARCLAYS BANK
DIAMOND TRUST BANK
Branch: Dar es salaam, Tanzania
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 |
|
US Dollar |
1 |
Rs.47.47 |
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UK Pound |
1 |
Rs.74.96 |
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Euro |
1 |
Rs.65.79 |
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.