|
Report Date : |
27.08.2012 |
IDENTIFICATION DETAILS
|
Name : |
AFRISIAN GINNING LTD |
|
|
|
|
Registered Office : |
Plot No. 34, Saza
Road, Chang’ombe Industrial Area, Dar Es Salaam |
|
|
|
|
Country : |
Tanzania |
|
|
|
|
Date of Incorporation : |
1995 |
|
|
|
|
Legal Form : |
Limited
Corporation |
|
|
|
|
Line of Business : |
Cotton
ginning industry and also traders of pulses, grains and related products |
|
|
|
|
No. of Employees : |
425 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
Payment Behaviour : |
No complaints |
|
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) |
|
Tanzania |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
|
|
|
||
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Registered
Name: |
AFRISIAN
GINNING LTD |
||
|
Requested
Name: |
AFRISIAN GINNING LTD |
||
|
Other Names: |
AGL |
||
ADDRESS AND TELECOMMUNICATION
|
|||
|
Physical
Address: |
Plot No. 34,
Saza Road, Chang’ombe Industrial Area, Dar Es Salaam |
||
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Postal
Address: |
P.o Box 19964, |
||
|
|
Dar Es Salaam |
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Country: |
Tanzania |
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Phone: |
255-222861491/3/5/2138781/-28-2763740 |
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Cell: |
255-774777444 |
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|
Fax: |
255-222861497/2130650/-28-2762565 |
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|
Email: |
info@afrisian.com/afrisian@cats-net.com/agl@cats-net.com |
||
|
Website: |
www.afrisian.com |
||
LEGAL
|
|
||
|
Legal Form: |
Limited
Corporation |
||
|
Date
Incorporated: |
1995 |
||
|
Date Started: |
1997 |
||
|
Reg. Number: |
28426 Tanzania |
||
|
Nominal
Capital |
TZS. 2,000,000,000 Divided into Shares of 2,000,000,000 each TZS. 1,000 |
||
|
Subscribed
Capital |
TZS. 2,000,000,000 |
||
|
Subscribed Capital is Subscribed in the following form: |
|||
|
|
Position |
Shares |
|
|
Mr.
Nazim E. Abdulwahid |
MD |
|
|
|
Mr.
Samir E. Abdulwahid |
Director |
|
|
|
Mrs.
Zulekha E. Abdulwahid |
Director |
|
|
|
Mr. Srinivas Rao |
Accounts |
|
|
|
None |
Parent
company. |
|
None |
Subsidiary
company. |
|
None |
Affiliated
company. |
|
None |
Shareholder
of subject firm. |
|
Mwanza, Shinyanga in Tanzania |
Branches of
the firm |
OPERATIONS
|
|
|
Registered to
operate in the cotton ginning industry and also traders of pulses, grains and
related products |
|
|
Imports: |
Asia and South Africa |
|
Exports: |
Worlwide |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
425 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Tanzania |
|
Location: |
Owned premises, 10,000 square feet, |
|
Auditors: |
Information
not available. |
|
|
Insurance Brokers: |
Information
not available. |
|
FINANCE
|
|
|
|
Currency
Reported: |
Tanzania
Shillings (TZS.) |
|
|
Approx. Ex.
Rate: |
1 US Dollar =
1573.99 Tanzania Shillings |
|
|
Fiscal Year End: |
December 31, 2011 |
|
|
Inflation: |
According to information given by independent sources, the
inflation at December 31st, 2011 was of 13%. |
|
|
|
||
|
Financial
Information not Submitted |
|
|
|
|
|
|
|
|
|
|
|
Profit and Loss
(expressed in TZS.) |
||
|
|
2010 |
2011 |
|
Sales |
12,438,000,000 |
13,682,000,000 |
BANK
|
|
|
|
Bank Name: |
BARCLAYS BANK |
|
|
Branch: |
Tanzania |
|
|
Comments: |
None |
|
|
Experiences: |
Good |
|
|
|
|
NOTARIAL
BONDS |
None |
|
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.55.38 |
|
|
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.69.47 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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.