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Report Date : |
24.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
STRATEGIC INDUSTRIES LIMITED |
|
|
|
|
Registered Office : |
Raiply Complex, Lunga Lunga
Road, Industrial Area |
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|
|
|
Country : |
Kenya |
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|
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Year of Establishment : |
2004 |
|
|
|
|
Legal Form : |
Limited Corporation |
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|
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Line of Business : |
dealers in artificial hair extensions, braids and related beauty
products |
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|
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No. of Employees : |
60 employees |
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 |
|
Maximum Credit Limit : |
USD 150,000 |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Kenya |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
kenya - ECONOMIC OVERVIEW
Although the regional hub for trade and finance in East Africa, Kenya has been hampered by corruption and by reliance upon several primary goods whose prices have remained low. Low infrastructure investment threatens Kenya's long-term position as the largest East African economy. The IMF halted lending in 2001 when the government failed to institute several anticorruption measures. In the key December 2002 elections, Daniel Arap MOI's 24-year-old reign ended, and a new opposition government took on the formidable economic problems facing the nation. After some early progress in rooting out corruption and encouraging donor support, the KIBAKI government was rocked by high-level graft scandals in 2005 and 2006. In 2006, the World Bank and IMF delayed loans pending action by the government on corruption. The international financial institutions and donors have since resumed lending, despite little action on the government's part to deal with corruption. Post-election violence in early 2008, coupled with the effects of the global financial crisis on remittance and exports, reduced GDP growth to 1.7 in 2008, but the economy rebounded in 2009-10. GDP growth in 2011 was only 4.3% due to inflationary pressures and sharp currency depreciation - as a result of high food and fuel import prices, a severe drought, and reduced tourism. In accordance with IMF prescriptions, Kenya raised interest rates and increased the cash reserve in November 2011.
Source : CIA
Registered Name: STRATEGIC INDUSTRIES LIMITED
Requested Name: STRATEGIC
INDUSTRIES LIMITED
Trade Names: DARLING
KENYA
Physical Address: Raiply Complex, Lunga Lunga
Road, Industrial Area
Postal Address: P. o. Box 30682-00100
Nairobi
Country: Kenya
Phone: 254-20-650201/554924/533772/202470675/541442
Cell: 254-724969899
Fax: 254-20-530238/551386/551385/556941533095
Email: info@darlingkenya.co.ke
Website: www.darlingkenya.biz
Financial Index as of December 2011 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 150,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 2004
Reg. Number: Kenya
Nominal Capital KES. 1,000,000
Subscribed Capital KES. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mahmoud Saffideen MD
Mr. Ghazi Kefel Director
Mr. Nick Obege Accounts
DARLING EUROPE Holding Co. 100%
DARLING EUROPE Parent company.
None Subsidiary company.
Various in Africa Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in artificial hair
extensions, braids and related beauty products
Imports: Europe
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, distributors, outlets etc
Employees: 60
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Kenya
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 85.98 Kenyan 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 KES.)
2011
Sales 400,000,000
Bank Name: Barclays Bank
Branch: Kenya
Comments: None
Experiences: Good
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.55.07 |
|
UK Pound |
1 |
Rs.89.54 |
|
Euro |
1 |
Rs.72.77 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.