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Report Date : |
26.06.2013 |
IDENTIFICATION DETAILS
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Name : |
GUPTA AUTO SPARES AND HARDWARE LTD |
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Registered Office : |
Plots No. 114 to 117, Block
F.A, Light Industrial Area |
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Country : |
Tanzania |
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Date of Incorporation : |
18.07.1979 |
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Com. Reg. No.: |
7211 Tanzania |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operates as general
merchandise traders for such products as hardware products, motor vehicle
spare parts, and Transportation services. |
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No. of Employees : |
80 |
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) |
|
Tanzania |
B2 |
B2 |
|
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 |
Tanzania ECONOMIC OVERVIEW
Tanzania is one
of the world's poorest economies in terms of per capita income, however, it has
achieved high overall growth rates based on gold production and tourism.
Tanzania has largely completed its transition to a liberalized market economy,
though the government retains a presence in sectors such as telecommunications,
banking, energy, and mining. The economy depends 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. The financial sector in Tanzania has expanded in recent years and
foreign-owned banks account for about 48% of the banking industry's total
assets. Competition among foreign commercial banks has resulted in significant
improvements in the efficiency and quality of financial services, though
interest rates are still relatively high, reflecting high fraud risk. All land
in Tanzania is owned by the government, which can lease land for up to 99
years. Proposed reforms to allow for land ownership, particularly foreign land
ownership, remain unpopular. 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, and in December 2012 the Millennium Challenge Corporation
selected Tanzania for a second Compact. Dar es Salaam used fiscal stimulus and
loosened monetary policy to ease the impact of the global recession. GDP growth
in 2009-12 was a respectable 6% per year due to high gold prices and increased
production.
|
Source : CIA |
Registered Name: GUPTA AUTO SPARES AND HARDWARE LTD
Requested Name: Gupta
Auto Spares and Hardware Ltd.
Other Names: None
Physical Address: Plots No. 114 to 117, Block F.A,
Light Industrial Area,
Postal Address: P. o. Box 421 Arusha
Arusha,
Country: Tanzania
Phone: +255-27-2544062/ 2504464/ 2548674/ 2500863
Fax: +255-27-2544062
Email: gupta@bol.co.tz
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: 18/07/1979
Reg. Number: 7211
Tanzania
Nominal Capital TZS. 500,000,000
Subscribed Capital TZS. 500,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Vijay
Gupta Director 40
Mr. Ajay Gupta Director 40
Mr. Shabira Gupta Director 20
None Parent company.
None Subsidiary company.
COASTAL MILLERS LTD
GUPTA AUTO LTD Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as General merchandise traders for such products
as hardware products, motor vehicle spare parts, and Transportation services.
Imports: Middle
East
Exports: Asia
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Arusha
Location: Rented
premises, 1,500 square feet,
Auditors: I.B.PATEL & Co LTD
Insurance Brokers: Information not available.
Currency Reported: Tanzania Shillings
(TZS.)
Approx. Ex. Rate: 1 US Dollar = 1600 Tanzania 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 ETB.)
2012
Sales 11,250,000,000
Bank Name: EXIM BANK
NATIONAL BANK OF COMMERCE, Arusha
Branch: Arusha
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.59.70 |
|
UK Pound |
1 |
Rs.92.25 |
|
Euro |
1 |
Rs.78.38 |
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.