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Report Date : |
09.08.2014 |
IDENTIFICATION DETAILS
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Name : |
INFOSOL SYSTEMS LTD |
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Registered Office : |
Uganda
House, 5th Floor, |
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Country : |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
BN/2010/86096 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Registered to operate as a consultancy firm dealing with information communication
technology security services and solutions |
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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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Kenya |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
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High Risk |
C2 |
|
Very High Risk |
D |
KENYA - ECONOMIC OVERVIEW
Kenya hKenya 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, although the Kenyatta administration
has prioritized infrastructure development. International financial lenders and
donors remain important to Kenya's economic growth and development.
Unemployment is high at around 40%. The country has chronic budget deficits.
Inflationary pressures and sharp currency depreciation peaked in early 2012 but
have since abated following low global food and fuel prices and monetary
interventions by the Central Bank. Recent terrorism in Kenya and the
surrounding region threatens Kenya's important tourism industry. Kenya, in
conjunction with neighboring Ethiopia and South Sudan, intends to begin
construction on a transport corridor and oil pipeline into the port of Lamu in
2014
|
Source
: CIA |
|
Registered Name: |
INFOSOL SYSTEMS
LTD |
|
Requested Name: |
INFOSOL SYSTEMS LTD |
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Former Names: |
BIZTECH CONSLUTANTS |
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Other Names: |
None |
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Physical Address: |
Uganda
House, 5th Floor, kenyatta Avenue, |
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Postal Address: |
P.
o. Box 11879/11987–00100 |
|
|
Nairobi, |
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Country: |
Kenya |
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Phone: |
254-20-2522068/70 |
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Cell: |
254-705885422/703667207 |
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Fax: |
254-20-2522068 |
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Email: |
info@infosolkenya.com |
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Website: |
www.infosolkenya.com |
|
Legal Form: |
Limited Corporation |
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Date Incorporated: |
10/05/2010 |
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Founded: |
2005 |
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Reg. Number: |
BN/2010/86096 |
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Tax Number: |
10044663005 |
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Nominal Capital |
KES.
1,000,000 |
|
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Subscribed Capital |
KES.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Charles Magogo |
MD |
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|
Mr. Simon Muiru |
Manager |
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Mr. Julius Odenyo |
Admin |
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
Moi Avenue, Regal Chambers, Mombasa, Kenya |
Branches of the firm |
|
Registered to operate as
a consultancy firm dealing with information communication technology security
services and solutions |
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Imports: |
Asia, Middle East |
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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: |
20 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Lease premises, 2,000 square
feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Kenyan Shillings (KES.) |
|
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Approx. Ex. Rate: |
1 US Dollar = 87.80
Kenyan Shillings |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in KES.) |
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|
|
2012 |
2013 |
|
Sales |
150,000,000 |
165,220,000 |
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_______________________________________________________________________ |
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BANK |
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Bank Name: |
Barclays
Bank |
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Branch: |
Kenya |
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Comments: |
None |
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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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.61.55 |
|
|
1 |
Rs.103.50 |
|
Euro |
1 |
Rs.82.41 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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 |
-- |
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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.