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Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
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Name : |
POWER TECHNICS LTD |
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Registered Office : |
Lr No:
209/6540 Chogoria Road, Industrial Area, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
14.07.1982 |
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Com. Reg. No.: |
24301 Nairobi |
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Legal Form : |
Limited Corporation |
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Line of Business : |
retailers of electrical items, motor control gear products, Merlin Gerling Switch gear products and Rectiphase power factors correction equipment & other products |
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No. of Employees : |
100 |
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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Kenya |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
|
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 |
KENYA ECONOMIC OVERVIEW
Kenya has been hampered by corruption and by reliance upon several primary goods whose prices have remained low. Low infrastructure investment threatens Kenya's long-term position as the largest East African economy. In the key December 2002 elections, Daniel MOI's 24-year-old reign ended, and a new opposition government took on the formidable economic problems facing the nation. After some early progress in rooting out corruption and encouraging donor support, the KIBAKI government was rocked by high-level graft scandals in 2005 and 2006. In 2006, the World Bank and IMF delayed loans pending action by the government on corruption. The international financial institutions and donors have since resumed lending, despite little action on the government's part to deal with corruption. Unemployment is very high. The country has experienced chronic budget deficits, inflationary pressures, and sharp currency depreciation - as a result of high food and fuel import prices. The discovery of oil in March 2012 provides an opportunity for Kenya to balance its growing trade deficit if the deposits are found to be commercially viable and Kenya is able to develop a port and pipeline to export its oil.
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Source : CIA |
Registered Name: POWER TECHNICS LTD
Requested Name: POWER
TECHNICS LTD
Other Names: None
Physical Address: Lr No: 209/6540 Chogoria Road,
Industrial Area, Nairobi, Kenya
Postal Address: P. o. Box 49197-00100 Nairobi
Nairobi
Country: Kenya
Phone: +254-0703069532
Fax: +254-20-2106950
Email: info@powetechnics.com
Website: www.powetechnics.com
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: 14/July/1982
Reg. Number: 24301 Nairobi
Nominal Capital KES. 7,500,000
Subscribed Capital KES. 6,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Naresh Sobhagyachand Mehta Director 105,000
Mr. Ramesh Chunilal Mehta Director 60,000
Mr. Mukesh Sobhagyachand Mehta Director 45,000
Mr. Rajesh Sobhagyachand Mehta Director 45,000
Mr. Daksheish Sobhagyachand Mehta Director 45,000
None Parent company.
None Subsidiary company.
COMPUTER TECHNICS LTD
INDUSTRIAL AUTOMATION LTD
NOBLE INVESTMENTS LTD
PHILLIPS PHARMACEUTICALS
LTD
RADBONE-CLARK KENYA LTD
SPECTRE CHEMICALS LIMITED Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as retailers of electrical items, motor control
gear products, Merlin Gerling Switch gear products and Rectiphase power factors
correction equipment & other products
Imports: Middle
East, Europe, Asia
Exports: East
Africa
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 100
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Kenya
Location: Rented premises, 5,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 85.2 Kenyan 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 KES.)
2012
Sales 312,000,000
Bank Name: BARCLAYS BANK
Bank of Baroda
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 |
|
US Dollar |
1 |
Rs.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
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.