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Report Date : |
23.04.2012 |
IDENTIFICATION DETAILS
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Name : |
TATA CHEMICALS MAGADI LIMITED |
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Registered Office : |
L.R. No. 1026/R, |
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Country : |
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Year of Establishment : |
2011 |
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Com. Reg. No.: |
CF/2011/54746 |
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Legal Form : |
Private Co -Foreign |
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Line of Business : |
The subject deals in
manufacture of soda ash which exports to foreign markets. |
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No. of Employees : |
Not Available |
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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Status : |
New Company |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
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Company Name (legal name) |
TATA CHEMICALS MAGADI LIMITED |
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Date of Incorporation |
2011 |
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Registered No. |
CF/2011/54746 |
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Registered Address |
L.R. No. 1026/R, Lake Magadi, P.O. Box 1 - 00205
Magadi, Kenya |
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Legal Form (General) |
Private Co -Foreign |
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Head Office Address |
Capitol
Hill Towers, 5th floor left wing, P.O. Box 63716 - 00619 Nairobi, Kenya |
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Tel No |
+254 206999000 |
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Fax No |
+254 206999360 |
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E-mail |
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Website |
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Activity: |
The subject deals in manufacture
of soda ash which exports to foreign markets. |
MAJOR SHAREHOLDERS
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NAME |
% SHAREHOLDING |
NATIONALITY |
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Tata Chemicals Ltd, |
100% |
Indian |
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Bombay House 24, Homi Street
Fort, |
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|
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Mumbai 400 001 Bombay India |
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Total |
100% |
- |
BOARD OF DIRECTORS
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NAME |
NATIONALITY |
|
Ramakrishnan Mukundan |
Indian |
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Prashat Ghose |
Indian |
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Arup Basu |
Indian |
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De Lyle Bloomquist |
American |
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Titus Naikuni |
Kenyan |
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Bernard Waruingi |
Kenyan |
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Michael Odera |
Kenyan |
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John Kerrigan |
British |
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Victor Osewe |
Kenyan |
|
Ronald Ndegwa |
Kenyan |
MANAGEMENT
|
First name |
Michael |
Last Name |
Odera |
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Nationality |
Kenyan |
Job Description |
Managing Director |
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Other details |
He is a co director of the
subject. |
||
|
First name |
Ronald |
Last Name |
Ndegwa |
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Nationality |
Kenyan |
Job Description |
Director, Supply Chain |
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Other details |
He is also a director of the
subject. |
||
The financial statement of
the subject could not be obtained due to refusal by the subject's principal to
disclose information citing constraints by the company’s policy
FINANCIAL
ANALYSIS
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ROC Status |
Undetermined |
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RecFin |
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Undetermined |
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Credit Amount |
Undetermined |
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Bank Name : |
Standard
Chartered Bank Kenya Ltd |
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Address : |
P.O.
Box 30001 -00100 Nairobi Kenya |
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Name : |
Quadrant Secretaries, |
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Address : |
P.O. Box 40111- 00100 Nairobi Kenya |
COMMENTS
Additional information (Public
Information)
The subject is legally registered
and domiciled in Kenya. According to the available at the Registrar of Companies,
the subject was registered in 2011 as a foreign company.
The subject was formerly
known as Magadi Soda Company is a subsidiary of Tata Chemicals which is a part
of the global Tata group; one of the world's leading chemical companies with operations
in US, the UK, Kenya and India.
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|
-Registrar of Companies |
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Source |
-National directories |
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-Regulatory authorities |
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-Subject's principal |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.51.99 |
|
|
1 |
Rs.83.54 |
|
Euro |
1 |
Rs.63.40 |
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 |
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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 |
-- |
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.