Updated Report
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Report Date : |
22.11.2012 |
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Tel. No.: |
+256-392906445 / +256-700352529c |
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Fax No.: |
+256-312-266167 |
IDENTIFICATION DETAILS
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Name : |
MAXWELL HOLDINGS CO LIMITED |
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Registered Office : |
Plot No. 29 Farmer’s Lane, Kampala |
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Country : |
Uganda |
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Year of Establishment : |
1998 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in
fertilizers and related products |
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No. of Employees : |
40 employees. |
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 : |
Slow |
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Litigation : |
Exists |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
uganda - ECONOMIC OVERVIEW
Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better domestic security, and the return of exiled Indian-Ugandan entrepreneurs. Uganda has received about $2 billion in multilateral and bilateral debt relief. In 2007 Uganda received $10 million for a Millennium Challenge Account Threshold Program. The global economic downturn has hurt Uganda's exports; however, Uganda''s GDP growth is still relatively strong due to past reforms and sound management of the downturn. Oil revenues and taxes will become a larger source of government funding as oil comes on line in the next few years. Rising food and fuel prices in 2011 led to protests. Instability in southern Sudan is a risk for the Ugandan economy in 2012 because Uganda''s main export partner is Sudan, and Uganda is a key destination for Sudanese refugees.
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Source : CIA |
Registered Name: MAXWELL HOLDINGS CO LIMITED
Requested Name: MAXWELL
HOLDINGS CO LIMITED
Other Names: None
Physical Address: Plot No. 29 Farmer’s Lane, Kampala
Postal Address: P. o. Box 9341
Kampala
Country: Uganda
Phone: 256-392906445/700352529/-414-690405
Fax: 256-312-266167
Email: marketing@maxwellholdings.net
Website: None
Financial Index as of December 2011 shows subject firm with a high risk
of credit. We recommend cash transactions only.
Legal Form: Limited Corporation
Date Incorporated: 1998
Reg. Number: Uganda
Nominal Capital UGS. 10,000,000
Subscribed Capital UGS. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mukasa Adolf Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in fertilizers and related products
Imports: Asia,
Middle East
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Stores,
farmers etc
Employees: 40
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Uganda
Location: Owned
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ugandan Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2607.50 Ugandan 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 12,000,000,000 12,520,000,000
Bank Name: Diamond Trust Bank
Branch: Uganda
Comments: None
Experiences: Average
None
This information was
obtained from outside sources other than the subject company itself.
The subject company has pending court cases, though business is still
operational.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.20 |
|
UK Pound |
1 |
Rs.87.79 |
|
Euro |
1 |
Rs.70.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
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 |
|
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 |
|
<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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.