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Report Date : |
22.04.2013 |
IDENTIFICATION DETAILS
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Name : |
TIAN TANG GROUP LTD. |
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Registered Office : |
4th Floor, Eastern Plaza Plot No. 594, Yusuf Lule Road, Kampala |
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Country : |
Uganda |
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Date of Incorporation : |
05.02.1995 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Production of steel such as iron bars, sheets and related products |
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No. of Employees : |
500 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 : |
Good |
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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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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 hurt Uganda's exports; however, Uganda's GDP growth has largely recovered 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 South Sudan is a risk for the Ugandan economy because Uganda's main export partner is Sudan, and Uganda is a key destination for Sudanese refugees. Unreliable power, high energy costs, inadequate transportation infrastructure, and corruption inhibit economic development and investor confidence.
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Source
: CIA
Registered Name: TIAN TANG GROUP LTD.
Requested Name: TIAN
TANG GROUP LTD.
Other Names: None
Physical Address: 4th Floor, Eastern Plaza Plot
No. 594, Yusuf Lule Road, Kampala
Factory Address: Plot 30, 17, 16, 26, 27, Block 185, Kyaggwe,
Mukono
Postal Address: P. o. Box 22930
Kampala
Country: Uganda
Phone: 256-414-252655
Cell: 256-72788002/756422202/772512723/752222175
Fax: 256-414-252655
Email: hema_wang@sina.com
Website: None
Financial Index as of December 2012 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: 05/02/1995
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. Paul Zhang Chairman
Mr. Zhang Zhigang Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate production of steel such as iron bars, sheets and
related products
Imports: Asia
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 500
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Uganda
Location: Owned
premises, 50,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Ugandan Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2557.54 Ugandan Shillings
Fiscal Year End: December
31, 2012
Inflation:
According
to information given by independent sources, the inflation at December
31st, 2012 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in UGS.)
2012
Sales 50,000,000,000
Bank Name: Stanbic Bank
Branch: Uganda
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
|
Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
Rs.54.03 |
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|
1 |
Rs.82.43 |
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Euro |
1 |
Rs.70.49 |
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.