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Report Date : |
30.10.2012 |
IDENTIFICATION DETAILS
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Name : |
MURZAH OIL MILLS LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
05.07.1992 |
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Com. Reg. No.: |
21357 Dar Es Salaam, Tanzania |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and retailers of household products such as cooking oils, toilet and laundry soaps etc |
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No. of Employees : |
450 employees |
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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 (31.03.2011) |
Current Rating (30.06.2012) |
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Tanzania |
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 |
TANZANIA - ECONOMIC OVERVIEW
Tanzania is one of the world's
poorest economies in terms of per capita income, however, Tanzania averaged 7%
GDP growth per year between 2000 and 2008 on strong gold production and
tourism. The economy depends heavily on agriculture, which accounts for more
than one-quarter of GDP, provides 85% of exports, and employs about 80% of the
work force. The World Bank, the IMF, and bilateral donors have provided funds
to rehabilitate Tanzania's aging economic infrastructure, including rail and
port infrastructure that are important trade links for inland countries. Recent
banking reforms have helped increase private-sector growth and investment, and
the government has increased spending on agriculture to 7% of its budget.
Continued donor assistance and solid macroeconomic policies supported a
positive growth rate, despite the world recession. In 2008, Tanzania received
the world's largest Millennium Challenge Compact grant, worth $698 million. Dar
es Salaam used fiscal stimulus and loosened monetary policy to ease the impact
of the global recession. GDP growth in 2009-11 was a respectable 6% per year
due to high gold prices and increased production.
Source : CIA
Registered Name: MURZAH OIL MILLS LIMITED
Requested Name: MURZAH
OIL MILLS LIMITED
Other Names: None
Physical Address: Kipawa Nyerere Road, Dar Es
Salaam,
Postal Address: P. o. Box 2339
Dar Es Salaam
Country: Tanzania
Phone: 255-22-2843288/9/2842498
Fax: 255-22-2843290
Email: info@murzah.co.tz
Website: www.murzah.co.tz
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.
Legal Form: Limited Corporation
Date Incorporated: 5-July-1992
Reg. Number: 21357 Dar Es Salaam, Tanzania
Nominal Capital TZS. 2,500,000,000
Subscribed Capital TZS. 952,002,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Haroon Daud
Abdallah Zakaria Chairman 500
Mr. Abdul Zakaria MD
Mr. Abbas
Ghulamali Director
Mrs. Naeem Zakaria Director
Al Mustakeem Enterprises Limited Holding Co. 951,502
Al Mustakeem Enterprises Limited Parent company.
None Subsidiary company.
AL
NAEEM ENTERPRISES LTD,
JUMBO
CONFECTIONERY LTD,
SAAFA
PET BOTTLES LTD,
SAAFA
PLASTICS LTD,
SEA STAR SERVICES LTD. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as manufacturers and retailers of household products
such as cooking oils, toilet and laundry soaps etc
Imports: Asia,
Europe and South Africa
Exports: Neighboring
countries e.g. Malawi, Zambia, Congo, Rwanda, Mozambique etc
Trademarks: None
Terms of sale: Cash
(40%) and 60 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 450
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Owned
premises, 20,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Tanzanian Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1583.50 Tanzanian 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 TZS.)
2010 2011
Sales 32,000,000,000 35,200,000,000
Bank Name: EXIM Bank,
Branch: Dar Es salaam, Tanzania
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.81 |
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1 |
Rs.86.52 |
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Euro |
1 |
Rs.69.50 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.