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Report Date : |
28.11.2012 |
IDENTIFICATION DETAILS
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Name : |
SHARPS ELECTRICAL PVT LTD. |
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Registered Office : |
P.o. Box 603 Gaborone, Botswana |
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Country : |
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Date of Incorporation : |
05.10.1967 |
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Com. Reg. No.: |
CD 435/ 67 Gaborone, Botswana |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Electrical Contractors and Engneers, supply of
electrical systems, Lighting, Power, Fire Alarm, Security & Access
Control, Building Management |
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No. of Employees : |
496 employees |
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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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 – June 30th, 2012
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Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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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 |
Bostwana -ECONOMIC OVERVIEW
Botswana has maintained one of the world's highest economic growth rates
since independence in 1966. However, economic growth was negative in 2009, with
the industrial sector shrinking by 30%, after the global crisis reduced demand
for Botswana's diamonds. The economy has since recovered, with GDP growth in
2010 at 7.2% and estimated GDP growth in 2011 of 6.2%. Through fiscal
discipline and sound management, Botswana transformed itself from one of the
poorest countries in the world to a middle-income country with a per capita GDP
of $16,300 in 2011. Two major investment services rank Botswana as the best
credit risk in Africa. Diamond mining has fueled much of the expansion and
currently accounts for more than one-third of GDP, 70-80% of export earnings,
and about half of the government's revenues. Botswana's heavy reliance on a
single luxury export was a critical factor in the sharp economic contraction of
2009. Tourism, financial services, subsistence farming, and cattle raising are
other key sectors. Although unemployment was 7.5% in 2007 according to official
reports, unofficial estimates place it closer to 40%. The prevalence of
HIV/AIDS is second highest in the world and threatens Botswana's impressive economic
gains. An expected leveling off in diamond mining production within the next
two decades overshadows long-term prospects.
Source
cia
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COMPANY REPORTED: |
SHARPS ELECTRICAL PVT LTD. |
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Trade Names: |
SHARPS ELECTRICAL |
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Principal Address: |
P.o. Box 603 Gaborone, Botswana |
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Telephone: |
+267 3952341 / +267 2412349 |
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Fax: |
+267 3951416 / +267 3909712 |
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Email: |
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Internet: |
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Established: |
5/10/1967 |
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Registration: |
CD 435/ 67 Gaborone, Botswana |
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Legal Form: |
Limited Liability Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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496 |
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Office & Factories |
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Head offices |
Plot 1236, Haile Salassie Road Gaborone , Botswana |
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Branches 1 |
Plot 1534 Mabuasehube St Light Ind, Light Ind Area, P.O.Box 1206, Francistown , Botswana |
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Management/
Directors |
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President/ CEO (1) |
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Name |
Mr. G. Narder |
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Active in daily business: |
Active |
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Current Title: |
Chairman |
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Country of residence |
Botswana |
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Remarks |
Top Decision Maker |
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Director (2) |
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Name |
Mr. R.M. Borello |
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Active in daily business: |
Active |
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Current Title: |
Managing Director |
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Country of residence |
Botswana |
* Top decision maker is the person who has the ultimate
authority or power to make important managerial decisions. He/She may or may
not be officially registered as a president or an executive director.
No negative information found
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Share Capital |
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Nominal Capital |
BWP. 150,000 |
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Paid in Capital |
BWP. 150,000 |
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Subscribed Capital |
BWP. 150,000 |
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Shareholders |
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Name |
Position |
Amount
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Ratio |
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Mr. G. Narder |
Chairman |
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Mr. R.M. Borello |
MD |
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Mr. T. Kandasamy |
CFO |
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Mrs. N. Narder. |
Director |
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Mr. C. Rossi |
Director |
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Total |
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100.00% |
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Terms of payment |
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Buying
terms |
30% in cash, 70% on credit |
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Selling
terms |
80% in cash, 20% on credit |
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Suppliers |
UMS , Rabro & Sturdy, Moeller Electric , Sirijaya Lighting, Conlog
Metering Systems GE Electronic Security Systems, Aberdare Cables (Pty) Ltd. , APC / MGE
UPS |
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Customers |
Public, University of Botswana, Botswana Diamond
Trading Company, Botswana Power Corporation |
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Recent
Sales |
BWP. 100,000,000 (2011 Estimated) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
10.0% |
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Domestic
Market Share |
20.0% |
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Affiliated Companies |
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Company (1) |
SHARPS CONSTRUCTION (PTY) LTD, Building
& Civil Engineer... |
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Company (2) |
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Exchange Rate |
US$ 1 = BWP. 6.43 |
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Established: |
5/10/1967 |
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Registration: |
CD 435/ 67 Gaborone, Botswana |
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Legal Form: |
Limited Liability Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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496 |
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Office & Factories |
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Head offices |
Plot 1236, Haile Salassie Road Gaborone , Botswana |
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Branches 1 |
Plot 1534 Mabuasehube St Light Ind, Light Ind Area, P.O.Box 1206, Francistown , Botswana |
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Business Activities |
Electrical
Contractors and Engneers, supply of electrical systems, Lighting, Power, Fire
Alarm, Security & Access Control, Building Management |
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Business Premises |
5000 Sft |
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Type of occupation
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Owned |
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Location |
The subject is located close to a major road network |
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Premises used as
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Offices, Shop |
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Banking relationship |
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Main
Banks |
STANDARD CHARTERED BANK, Box 496 Gaborone |
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Account
Number |
0100110106700 |
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Code |
BWP 5,000,000 - overdraft facilities, secured by property |
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Auditors |
Grant Thornton Acumen (Pty) Ltd |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.70 |
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UK Pound |
1 |
Rs.89.34 |
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Euro |
1 |
Rs.72.35 |
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.