MIRA INFORM REPORT
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Report Date : |
21.02.2012 |
IDENTIFICATION DETAILS
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Name : |
KAKIRA SUGAR LTD |
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Registered
Office : |
Central Parechase Division P O Box No 121, Jinja |
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Country : |
Uganda |
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Date of Incorporation : |
15.05.1985 |
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Com. Reg. No.: |
12170 Uganda |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operating several motor
vehicles |
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No. of Employees
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360 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Good |
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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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Uganda |
b2 |
b2 |
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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 |
Registered Name: KAKIRA SUGAR LTD
Requested Name: KAKIRA
SUGAR LTD
Other Names: None
Physical Address: Plot No 5 Main Street,
Postal Address: Central Parechase Division P O Box No 121
Jinja
Country: Uganda
Phone: 256-414444000/43-121320/ 121938/ 9 /
078-342100
Fax: 256-414444336/43-121939
Email: kakira@kakira.com
Website: www.kakirasugar.com
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.
Legal Form: Limited Corporation
Date Incorporated: 15-5-1985
Reg. Number: 12170 Uganda
Nominal Capital UGS. 10,000,000
Subscribed Capital UGS. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Manubhai M. Madhvani MD 5,000
Pratap M. Madhvani Director 5,000
Surendra M. Madhvani Director 5,000
Mayur M. Madhvani Director 5,000
Nitin J Madhavani Director 263
Amit jayant madhavani Director 262
Jack Luyombya Director 5,000
Heirs of Jayant
Madhavani Shareholder 4,475
Madhavani Group
Holdings Ltd Shareholder 80,000
Ministry Of Finance & Planning Shareholder 3,000,000
East African
Holding Ltd Holding
Co. 6,895,000
East African
Holding Ltd Parent company.
None Subsidiary company.
Listed Below Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate
Imports: Asia, India and South
Africa
Exports: Rwanda
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 360 employees.
Vehicles: Several motor
vehicles.
Territory
of sales: Uganda
Location: Leased premises,
2.000 square feet,
Auditors: Information not available
Insurance
Brokers: Information not available
Currency Reported: Uganda Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2314.98 Uganda 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 UGS.)
2010 2011
Sales 155,000,000,000 265,000,000,000
Bank Name: BANK OF BARODA
Branch: Dar Es Salaam
Comments: Good
Other Bankers
STANBIC
BANK LTD
STANDARD
CHARTERED BANK LTD
TROPICAL AFRICA BANK LTD
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
|
AFFILIATED COMPANIES |
|
EAST AFRICAN UNDERWRITERS LTD |
|
LIBERTY LIFE ASSURANCE UGANDA |
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EXCEL CONSTRUCTION LTD |
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EAST AFRICAN DISTRIBUTORS LTD |
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INDUSTRIAL SECURITY SERVICES LTD |
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MULJIBHAI MADHVANI FOUNDATION |
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MADHVANI PROPERTIES DIVISION |
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STEEL CORPORATION OF EAST AFRICA LTD |
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COLEUS CROWN (UGANDA) LTD |
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MAKEPASI MATCH LTD |
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EAST AFRICAN PACKAGING SOLUTIONS LTD |
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MWEYA SAFARI LODGE |
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PARAA SAFARI LODGE |
|
CHOBE SAFARI LODGE |
|
MRA LEISURE CAMP |
|
SOFTWARE APPLICATIONS (UGANDA) LTD |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.21 |
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UK Pound |
1 |
Rs.77.75 |
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Euro |
1 |
Rs.64.58 |
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.