MIRA INFORM REPORT

 

 

Report Date :

05.05.2012

 

IDENTIFICATION DETAILS

 

Name :

BRITISH AMERICAN TOBACCO UGANDA

 

 

Registered Office :

Plot 69/71, Jinja Road, P. o. Box 7100 Kampala

 

 

Country :

Uganda

 

 

Financials (as on) :

31.12.2011 (Group)

 

 

Date of Incorporation :

29.11.1950

 

 

Com. Reg. No.:

5194

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Manufacture and distribution of tobacco products such as cigarettes

 

 

No. of Employees :

650 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

 

Status :

Good

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)

Uganda

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

SUBJECT'S NAME   

 

Registered Name:                                  BRITISH AMERICAN TOBACCO UGANDA

Requested Name:                                  BRITISH AMERICAN TOBACCO UGANDA

Other Names:                                        None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                  Plot 69/71, Jinja Road, Kampala

Postal Address:                                     P. o. Box 7100

                                                            Kampala

Country:                                                Uganda

Phone:                                                  256-312-200100/-414-343332/42345678

Fax:                                                      256-414-256425/343333

Email:                                                   info@batu.com

Website:                                               www.batu.com

 

 

LEGAL

 

Legal Form:                                                    Limited Corporation 

Date Incorporated:                                           29-Nov-1950

Reg. Number:                                                 5194

Nominal Capital                                               UGS. 61,350,000

Subscribed Capital                                          UGS. 49,080,000

Subscribed Capital is Subscribed in the following form:

                                                                     Position                          Shares

Mr. Richard Burrows                                        Group Chairman               

Mr. Nicandro Duarte                                        Group CEO                     

Mr. Serhat Eroglu                                            MD                                 

Mr. David Bagenda                                          Director                           

Mr. Issac Ampeire                                           Director                           

Mrs. Marilyn Gwet                                           Manager                          

Public Sector                                                  Shareholder                      10%

PRECIS BV                                                    Shareholder                      20%

British American Tobacco Investments              Shareholder                      70%

 

 

RELATED COMPANIES  

 

British American Tobacco Investments              Parent company.

None                                                              Subsidiary company.

Listed Below                                                   Affiliated company.

None                                                              Shareholder of subject firm.

Various retail shops in Uganda                         Branches of the firm

 

OPERATIONS

 

Registered to operate manufacture and distribution of tobacco products such as cigarettes

Imports:                                                          UK, Europe

Exports:                                                         Neighboring countries

Trademarks:                                                   None

Terms of sale:                                                 Cash (40%) and 25-90 days (60%), invoices.

                                                                    

Main Customers:                                             Distributors ,Department stores and other outlets

Employees:                                                    650 employees

Vehicles:                                                        Several motor vehicles.

Territory of sales:                                            Uganda

Location:                                                        Rented premises, 80,000 square feet,

 

 

AUDITORS AND INSURANCE   

 

Auditors:                                                        Price Water House Coopers

Insurance Brokers:                                          Information not available.

                                                                    

 

FINANCE 

 

Currency Reported:                                         Uganda Shillings (UGS.)

Approx. Ex. Rate:                                           1 US Dollar = 2457.48 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%.

 

Group Consolidated Financial Information Submitted below         

                                                                    

Profit and Loss (expressed in UGS.)

                                                                     2010                        2011

Sales                                                             103,213,000,000       113,534,300,000

 

 

BANK 

 

Bank Name:                                                   STANBIC BANK UGANDA LTD

Branch:                                                          45 Kampala Road, Kampala, Uganda

Comments:                                                     Other Banks

                                                                     BARCLAYS BANK OF UGANDA LTD, Kampala, Uganda.

 

TRADE REFERENCES    

 

Experiences:                                                  Good

                                                                    

 

NOTARIAL BONDS   

 

None

 

 

AFFILIATED COMPANIES

 

BRITISH AMERICAN TOBACCO KOREA

BRITISH AMERICAN TOBACCO SOUTH AFRICA

BRITISH AMERICAN TOBACCO CONGO

BRITISH AMERICAN TOBACCO ZIMBABWE

BRITISH AMERICAN TOBACCO EAST AFRICA

BRITISH AMERICAN TOBACCO GHANA

BRITISH AMERICAN TOBACCO JAPAN

BRITISH AMERICAN TOBACCO CANADA

BRITISH AMERICAN TOBACCO BRAZIL

BRITISH AMERICAN TOBACCO CHILE

BRITISH AMERICAN TOBACCO TANZANIA

BRITISH AMERICAN TOBACCO NIGERIA

BRITISH AMERICAN TOBACCO VIETNAM

BRITISH AMERICAN TOBACCO SWITZERLAND

BRITISH AMERICAN TOBACCO ITALY

BRITISH AMERICAN TOBACCO UKRAINE

BRITISH AMERICAN TOBACCO TURKEY

BRITISH AMERICAN TOBACCO COLOMBIA

BRITISH AMERICAN TOBACCO MALAYSIA

BRITISH AMERICAN TOBACCO AUSTRALIA

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.72

UK Pound

1

Rs.86.98

Euro

1

Rs.70.64

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.