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Report Date : |
11.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
EASTERN
HOPE LTD. |
|
|
|
|
Registered Office : |
Avenue de la Gendarmerie Kigali, |
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|
|
|
Country : |
Rwanda |
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|
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Date of Incorporation : |
09.02.2007 |
|
|
|
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Legal Form : |
Company limited by
shares |
|
|
|
|
Line of Business : |
Subject is engaged
in the trade, including import, in steel products. |
|
|
|
|
No. of Employees : |
19 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Moderate |
|
Payment Behaviour : |
Unknown |
|
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) |
|
Rwanda |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
RWANDA - ECONOMIC OVERVIEW
Rwanda is a poor rural country with about 90% of the
population engaged in (mainly subsistence) agriculture and some mineral and
agro-processing. Tourism, minerals, coffee and tea are Rwanda's main sources of
foreign exchange. Minerals exports declined 40% in 2009-10 due to the global
economic downturn. The 1994 genocide decimated Rwanda's fragile economic base,
severely impoverished the population, particularly women, and temporarily
stalled the country's ability to attract private and external investment.
However, Rwanda has made substantial progress in stabilizing and rehabilitating
its economy to pre-1994 levels. GDP has rebounded with an average annual growth
of 7%-8% since 2003 and inflation has been reduced to single digits.
Nonetheless, a significant percent of the population still live below the
official poverty line. Despite Rwanda's fertile ecosystem, food production
often does not keep pace with demand, requiring food imports. Rwanda continues
to receive substantial aid money and obtained IMF-World Bank Heavily Indebted
Poor Country (HIPC) initiative debt relief in 2005-06. In recognition of
Rwanda's successful management of its macro economy, in 2010, the IMF graduated
Rwanda to a Policy Support Instrument (PSI). Rwanda also received a Millennium
Challenge Threshold Program in 2008. Africa's most densely populated country is
trying to overcome the limitations of its small, landlocked economy by
leveraging regional trade. Rwanda joined the East African Community and is
aligning its budget, trade, and immigration policies with its regional
partners. The government has embraced an expansionary fiscal policy to reduce
poverty by improving education, infrastructure, and foreign and domestic
investment and pursuing market-oriented reforms. Energy shortages, instability
in neighboring states, and lack of adequate transportation linkages to other
countries continue to handicap private sector growth. The Rwandan Government is
seeking to become regional leader in information and communication
technologies. In 2010, Rwanda neared completion of the first modern Special
Economic Zone (SEZ) in Kigali. The SEZ seeks to attract investment in all
sectors, but specifically in agribusiness, information and communications technologies,
trade and logistics, mining, and construction. The global downturn hurt export
demand and tourism, but economic growth has recovered, driven in large part by
the services sector, but inflation has grown. On the back of this growth,
government is gradually ending its fiscal stimulus policy while protecting aid
to the poor
Source
: CIA
Eastern Hope Ltd.
ADDRESSES:
Main Address: Avenue
de la Gendarmerie
Zip code/City: Kigali,
Rwanda
Telephone: +250
7 88301351
+250
785 519 817
E-mail: easternhopeltd@gmail.com
WIN Worldbox No.: RW0000019906
VAT-No.: 101463335
Profile
Established: 2007
Line of Business: Consumer
goods wholesale
Industry Division: Wholesale
trade
Industry-code (NACE): 4672
Wholesale of metals and metal ores
Banks: Not
disclosed.
Employees: 10-19
CNPJ: -
Board of Directors:
Director Francis
The full name(s) of
the director(s) could not be traced. We spoke with several people of the company,
who referred us to Francis. When we spoke with him, he told us that he is the
director of the business. However, we could not yet verify this via official
sources.
Public
information:
-
SHARE & SHARE CAPITAL INFORMATION
Legal form: Company
limited by shares
Incorporation date: 09.02.2007
Balance sheet filing
date: -
Tax Contributor
Number (CNPJ): -
Legal status: active
Responsible
Register: Office
of the Registrar General
Entry Deleted Name
active Eastern Hope Ltd.
Entry Deleted Address
active Kacyiru,, Gasabo, Umujyiwa Kigali, Rwanda/RW
Import and
Export:
Import
Payment history:
No payment
experience on record.
GROUP STRUCTURE &
AFFILIATED COMPANIES
Financial information:
The company is not
required to file the accounts.
Upon direct approach
it proved impossible to obtain further details. An email was sent. Should we
receive an answer, then we will send you an update.
Exchange rate:
US$
1,00 =
RWF 642,336 - Official rate on 06.09.2013
Main Activities:
The company is
engaged in the trade, including import, in steel products.
Operations &
branches:
At the Kacyiru, Gasabo,
Umujyiwa Kigali we find the registered seat.
The actual
operations take place at the Avenue de la Gendarmerie, Kigali.
Staff:
10-19
Upon direct approach
it proved impossible to obtain further details. An email was sent. Should we
receive an answer, then we will send you an update.
When dealing with
subject matter we suggest seeking full (bank) guarantees or prepayment.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.22 |
|
|
1 |
Rs.100.83 |
|
Euro |
1 |
Rs.85.21 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIS |
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 |
|
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.