MIRA INFORM REPORT
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Report Date : |
17.03.2012 |
IDENTIFICATION DETAILS
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Name : |
ESTIFANOS MEKASHA IMPORT & EXPORT |
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Registered Office : |
Nifas silk Lafto Subcity, Kebele 09; House
No : 427 Addis Ababa |
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Country : |
Ethiopia |
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Date of Incorporation : |
02.02.2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
import and distribution of machineries for construction purposes and export of seeds, grains and related products |
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No. of Employees
: |
25 |
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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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Satisfactory |
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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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Ethiopia |
c1 |
c1 |
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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: ESTIFANOS MEKASHA IMPORT & EXPORT
Requested Name: ESTIFANOS
MEKASHA IMPORT & EXPORT
Other Names: None
Physical Address: Nifas silk Lafto
Subcity, Kebele 09; House No : 427 Addis
Ababa
Postal Address: P. o. Box 170221,
Addis Ababa,
Country: Ethiopia
Phone: 251-911516829/674512
Fax: 251-9113481912
Email: mulercool@gmail.com
Website: www.hajuta.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. We recommend Credit of USD 50,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 2-Feb-2005
Reg. Number: Addis
Ababa, Ethiopia
Nominal Capital ETB. 100,000
Subscribed Capital ETB. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Muluken Jufar CEO
Mr. Beniam Hailemariam Director
Mr. Asmamaw Endalew Manager
None Parent company.
None Subsidiary company.
HAJUTA TRADING,
HAJUTA ENGINEERING PLC,
COMA IMPORT AND
EXPORT PLC. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as import and distribution of machineries for
construction purposes and export of seeds, grains and related products
Imports: Asia,
UK
Exports: Europe,
Asia
Trademarks: None
Terms
of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customers: Construction
and building firms and organizations
Employees: 25
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ethiopia
Location: Leased
premises, 2,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ethiopian Birr (ETB.)
Approx. Ex. Rate: 1 US Dollar = 17.72 Ethiopian Birr
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 ETB.)
2010 2011
Sales 45,000,000 49,500,000
Bank Name: Dashen Bank
Branch: Addis Ababa, Ethiopia
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
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Indian Rupees |
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US Dollar |
1 |
Rs.50.31 |
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UK Pound |
1 |
Rs.79.04 |
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Euro |
1 |
Rs.65.82 |
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.