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Report Date : |
09.08.2012 |
IDENTIFICATION DETAILS
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Name : |
POWER TECHNICS LIMITED |
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Registered Office : |
Plot No. L.R. 209/10563/2,
Power Technics Complex, Mombasa Road, P.O. Box 49197 – 00100 Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
14.06.1982 |
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Com. Reg. No.: |
C.24301 |
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Legal Form : |
Private Ltd Company |
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Line of Business : |
Manufacturer of Voltage panels, Cables management systems, Heavy voltage switchboards, Lighting and earthing |
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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 : |
Moderate |
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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 |
|
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 |
|
(legal name) |
POWER TECHNICS LIMITED |
|
Date of Incorporation |
14th June 1982 |
|
Registered No. |
C.24301 |
|
Registered Address |
Plot No. L.R. 209/10563/2, Power Technics Complex, Mombasa Road, P.O. Box 49197 – 00100 Nairobi Kenya |
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Legal Form (General) |
Private Ltd Company |
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Head Office Address |
Power Technics Complex, Mombasa Road, P.O. Box 49197 – 00100 Nairobi Kenya |
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Tel No |
+254203569591/2-4, / +254206930000/ +254703 069000 |
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Fax No |
+254206823847 |
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E-mail |
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Website |
MAJOR SHAREHOLDERS
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NAME |
% SHAREHOLDING |
NATIONALITY |
|
Nareshkumar S. Mehta |
105,000 |
Kenyan |
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Ramesh Chunilal Mehta |
60,000 |
Kenyan |
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Mukesh S. Mehta |
45,000 |
Kenyan |
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Rajesh S. Mehta |
45,000 |
Kenyan |
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Daksheish S. Mehta |
45,000 |
Kenyan |
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Un-issued shares |
75,000 |
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Total |
100% |
- |
The subject has an
authorized share capital of KES.7,500,000 divided into 375,000 shares each priced
at KES.20 /= per share. Out
of the authorized shares, only 300,000 shares worth KES.6,000,000 has been
issued.
BOARD OF
DIRECTORS:
|
NAME |
NATIONALITY |
|
Nareshkumar S. Mehta |
Kenyan |
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Ramesh Chunilal Mehta |
Kenyan |
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Mukesh S. Mehta |
Kenyan |
Daksheish S. Mehta is only a shareholder with no directorship role in
the subject.
#1
|
First name |
Nareshkumar S. |
Last Name |
Mehta |
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Nationality |
Kenyan |
Job Description |
Managing
director |
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Other details |
He is the
largest single shareholder of the subject. |
||
#2
|
First name |
Rajesh S. |
Last Name |
Mehta |
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Nationality |
Kenyan |
Job Description |
Operations
Director |
|
Other details |
He is also a shareholder and 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 |
Undetermined |
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Credit Amount |
Undetermined |
BANK DETAILS
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Bank Name : |
I&M Bank Ltd |
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Address : |
P.O. Box 30238 – 00100 Nairobi Kenya |
COMPANY SECRETARY
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Name : |
Sailesh Ramniklal Mehta |
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Address : |
P.O. Box 49197 – 00100 Nairobi Kenya |
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Industry |
Manufacturer |
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Main Products & Services |
1.Voltage panels 2.Cables
management systems 3.Heavy voltage
switchboards 4.Lighting and
earthing |
Comments
|
Additional information (Public Information) |
The subject is legally
registered and domiciled in Kenya. As per the
available at the Registrar of companies, the subject had the following
registered charges; A debenture from
30th July 2009 and 13th August 2009 of KES.347.5
million in favor of I&M bank Ltd and charged over the company’s assets. |
Source
|
Source |
-Registrar of
Companies -National
directories -Regulatory
authorities -Subject’s
principal |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.15 |
|
UK Pound |
1 |
Rs.86.00 |
|
Euro |
1 |
Rs.68.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.