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Report Date : |
09.02.2013 |
IDENTIFICATION DETAILS
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Name : |
Beamteks Textiles and General Enterprises
Ltd. |
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Registered Office : |
Plot No. 24 Main Street, Jinja, P. o. Box 2085, Jinja |
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Country : |
Uganda |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operate as dealers
in general merchandise such as textiles, FMCG etc. |
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No. of Employees : |
20 |
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
|
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 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: BEAMTEKS TEXTILES AND GENERAL ENTERPRISES
LTD
Requested Name: BEAMTEKS
TEXTILES AND GENERAL ENTERPRISES LTD
Other Names: None
Physical Address: Plot No. 24 Main Street, Jinja
Postal Address: P. o. Box 2085,
Jinja,
Country: Uganda
Phone: 256-772378887
Fax: 256-43-2120899
Email: None
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 |
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Date Incorporated: |
1995 |
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Reg. Number: |
Uganda |
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Nominal Capital |
UGS.
1,000,000 |
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Subscribed Capital |
UGS.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Martin Tibalira |
CEO |
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None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
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Registered to operate as
dealers in general merchandise such as textiles, FMCG etc |
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Imports: |
Asia |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Local agencies, stores, public |
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Employees: |
20 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Uganda |
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Location: |
Rented premises, 2,500 square feet, |
Auditors: Information
not available.
Insurance Brokers: Information
not available.
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Currency Reported: |
Uganda Shillings (UGS.) |
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Approx. Ex. Rate: |
1 US Dollar = 2660.27
Uganda Shillings |
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Fiscal Year End: |
December 31, 2012 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2012 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in UGS.) |
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2012 |
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Sales |
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5,000,000,000 |
Bank Name: Crane Bank
Branch: Uganda
Comments: None
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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 |
|
US Dollar |
1 |
Rs.53.57 |
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|
1 |
Rs.84.25 |
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Euro |
1 |
Rs.71.79 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.