MIRA INFORM REPORT
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Report Date : |
02.01.2012 |
IDENTIFICATION DETAILS
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Name : |
NIRAV AGENCY LIMITED |
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Registered Office : |
Enterprise Rd,
Industrial Area, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
06.04.1985 |
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Com. Reg. No.: |
32512 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
General Trading Company |
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No. of Employees
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50 |
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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Moderate |
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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
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
SUBJECT'S NAME
Registered Name: NIRAV AGENCY LIMITED
Requested Name: NIRAV
AGENCY LIMITED
Other Names: None
ADDRESS
AND TELECOMMUNICATION
Physical Address: Enterprise
Rd, Industrial Area, Nairobi, Kenya
Postal Address: P O Box 17645, 00500
Nairobi
Country: Kenya
Phone: +254-20-554836/ 2446593
Fax: +254-20-554836/ 2446593
Email: None
Website: None
CREDIT OPINION
Financial Index as of December
2010 shows subject firm with a medium risk of credit. We recommend Credit of
USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6/04/1985
Reg. Number: 32512
Nominal Capital KES. 1,000,000
Subscribed Capital KES. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Sudhir Lalji
Shah MD
Mr. Rajesh Velji
Shah Director
Mr. Kamal Lalji
Shah Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
PISU & COMPANY LTD
MALAKISI AGENCIES LTD
UKWALA TRADING COMPANY
HYDRO WATER WELL
(KENYA) LIMITED Affiliated company.
None Shareholder of subject firm.
Eldoret Branches of the firm
OPERATIONS
Registered to operate as general trading company
Imports: ASia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Tausi
Assurance
FINANCE
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 98 Kenyan Shillings
Fiscal Year End: December
31, 2010
Inflation: According
to information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial
Information Submitted
KES.
Profit and Loss (expressed in KES.)
2010
Sales 183,000,000
BANK
Bank Name: FINA BANK LIMITED
Branch: Enterprise Rd, Nairobi
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
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.53.27 |
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UK Pound |
1 |
Rs.82.09 |
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Euro |
1 |
Rs.68.90 |
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.