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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
GAIA ECO-SOLUTIONS (TZ) LIMITED |
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|
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Registered Office : |
Plot No. 19 and 21 Vingunguti Industrial Area,
Dar Es Salaam, P.
O. Box 40026, Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
11.02.2008 |
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Com. Reg. No.: |
64194 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate recycling
of automotive battery to produce lead and lead alloy |
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No. of Employees : |
50 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
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: |
GAIA
ECO-SOLUTIONS (TZ) LIMITED |
|
Requested Name: |
GAIA ECO-SOLUTIONS (TZ) LIMITED |
|
Other Names: |
None |
|
Physical Address: |
Plot No. 19 and 21 Vingunguti Industrial Area,
Dar Es Salaam, |
|
Postal Address: |
P.
o. Box 40026, |
|
|
Dar
Es Salaam, |
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Country: |
Tanzania |
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Phone: |
255-22-2864971/72/2866017/2862915 |
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Cell: |
255-774792002 |
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Fax: |
255-22-2862838 |
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Email: |
info@synarge.com |
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Website: |
www.synarge.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 |
|
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Date Incorporated: |
11-Feb-2008 |
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Reg. Number: |
64194 |
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Nominal Capital |
TZS.
1,000,000 |
|
|
Subscribed Capital |
TZS.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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|
Position |
Shares |
|
Mr. Navin P. Kanabar |
Chairman |
|
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Mr. Amin B. Lakhani |
MD |
|
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Mr. Ashu Gulati |
Finance
Director |
|
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Mr. Swaminathan Murthy |
Director |
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|
Mr. Vivek Mehta |
Director |
|
|
Mr. Ramesh Gawali |
Director |
|
|
Synarge Group of Companies |
Holding
Co. |
100% |
|
Synarge Group of Companies |
Parent company. |
|
None |
Subsidiary company. |
|
BRAKES TANZANIA LIMITED, BRANDS INTERNATIONAL (KENYA)
LTD, NAS TYRE SERVICES LTD
(NTS), HOUSING SOLUTIONS AFRICA
LTD, HR SOLUTIONS LTD, MINING & INDUSTRIAL
SOLUTIONS TANZANIA LTD, SYNARGE MINES &
METALS LTD. |
Affiliated companies. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Registered to operate
recycling of automotive battery to produce lead and lead alloy |
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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: |
firms and organizations |
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Employees: |
50 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Owned premises, 10,000 square feet, |
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_______________________________________________________________________ |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Tanzanian Shillings (TZS.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 1616.49
Tanzanian 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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||
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Financial Information not
Submitted |
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Profit and Loss (expressed
in TZS.) |
||
|
|
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2012 |
|
Sales |
|
8,250,000,000 |
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Bank Name: |
CRBD
BANK |
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Branch: |
Tanzania |
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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.62.24 |
|
|
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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.