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Report Date : |
12.05.2012 |
IDENTIFICATION DETAILS
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Name : |
MEEZAN TRADING LTD |
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Registered Office : |
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Country : |
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Date of Incorporation : |
26.03.2004 |
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Com. Reg. No.: |
C.108919 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Deals in all types of food from dry products to chilled and frozen and
fresh fruits |
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No. of Employees : |
54 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
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 |
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Company Name (legal name) |
Meezan Trading
Ltd |
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Date of Incorporation |
26th March 2004 |
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Registered No. |
C.108919 |
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Registered Address |
Argwings Kodhek Road, Nairobi P.O. Box 76468 – 00508 Nairobi Kenya |
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Legal Form (General) |
Private Limited Company |
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Head Office Address |
Argwings Kodhek Road, Nairobi P.O. Box 76468 – 00508 Nairobi Kenya Mombasa Office; Jomo Kenyatta Road, Nyali
Mombasa |
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Tel No |
+254720897402 /+254720897402 |
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Fax No |
+254202734710 |
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E-mail |
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Website |
NONE |
MAJOR SHAREHOLDERS
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NAME |
% SHAREHOLDING |
No. of Shares |
NATIONALITY |
|
Mohammad Shamil |
50% |
500 @KES.100 per share |
Sri Lankan |
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Vincent Sequeira |
50% |
500 @KES.100 per share |
Kenyan |
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Total |
100% |
KES.100,000 |
- |
2.1 BOARD OF
DIRECTORS:
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NAME |
ROLE |
NATIONALITY |
|
Mohammad Shamil |
Managing Director |
Sri Lankan |
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Vincent Sequeira |
Director |
Kenyan |
MANAGEMENT
#1
|
First name |
Mohammad Shamil |
Last Name |
Farook |
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Nationality |
Sri Lankan |
Job Description |
Chief
Executive Officer |
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Other details |
He is a co shareholder
of the subject. |
||
#2
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First name |
Vincent |
Last Name |
Sequeira |
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Nationality |
Kenyan |
Job Description |
Director |
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Other details |
He is a co shareholder of the subject. He is a not involved in the business
operations of the subject. |
||
The financial
statement of the subject could not be obtained due to refusal by the subject’s
principal to disclose information citing constraints by the company’s policy.
Financial Analysis
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ROC Status |
Undetermined |
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RecFin |
Undetermined |
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Credit Amount |
Undetermined |
BANK DETAILS
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Bank Name : |
Fidelity Commercial Bank Ltd |
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Address : |
Dar-e-salam Road, |
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Industry |
Import and Exports |
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Main Products & Services |
The subject
deals in all types of food from dry products to chilled and frozen and fresh
fruits. |
Comments
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Additional information (Public Information) |
The subject is legally registered and domiciled in Kenya. The subject
is related to Meezan Trading FZE based in United Arabs Emirates (UAE). The subject imports its products from Saudi Arabia (25%), Turkey (15%),
South Africa (25%), India (10%), Sultanate of Oman (20%) and UAE (5%) which
it exports to Somalia to the United Nation (UN) Missions based in Mogadishu,
Somalia. The subject has two premises; head office in Nairobi and a sorting
store in Mombasa. The subject has a total of 54 staff; 4 staff at the Nairobi
office and 50 casual at the Mombasa office. |
Source
|
Source |
-Registrar of
Companies -National
directories -Regulatory
authorities -Subject’s
principal |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.64 |
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UK Pound |
1 |
Rs.86.42 |
|
Euro |
1 |
Rs.69.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
---- |
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.