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Report Date : |
04.02.2014 |
IDENTIFICATION DETAILS
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Name : |
HARLEY'S LTD |
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Registered Office : |
Westland’s Road, On Harleys Complex, Nairobi P. o. Box 42718-00100 Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
09.11.1953 |
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Reg. No.: |
2849 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
importers and distribution of pharmaceuticals, Laboratory equipment and
medicines and related facilities |
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No. of Employees : |
75 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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Without Financials |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
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.
|
Source
: CIA |
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Registered Name: |
HARLEY'S LTD |
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Requested Name: |
HARLEY'S LTD |
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Other Names: |
None |
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Physical Address: |
Westland’s Road, On Harleys Complex, Nairobi |
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Postal Address: |
P.
o. Box 42718-00100 |
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Nairobi, |
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Country: |
Kenya |
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Phone: |
254-20-3747380/90/93/95/315522/4261000 |
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Cell: |
254-722202030/733625979 |
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Fax: |
254-20-3747390/2247216/3748141/3748099 |
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Email: |
info@harleysltd.com/anjana@harleysltd.com/
hitesh@swiftkisumu.com/vinod@harleysltd.com |
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Website: |
www.harleyslimited.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
9-Nov-1953 |
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Reg. Number: |
2849 |
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Nominal Capital |
KES.
50,000,000 Divided into Shares of 1,000,000 each KES 50 |
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Subscribed Capital |
KES.
800,000 being 16,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. Ashwin Kumar Raishi Haria |
Chairman |
7800 |
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Mr. Rupen Mulchand Haria |
Director |
7800 |
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Mr. Nishil Haria |
Director |
400 |
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Mr. Hitesh Chandulal Haria |
Director |
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Mr. Mansukhlal Raishi Haria |
Director |
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None |
Parent company. |
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None |
Subsidiary company. |
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CROSS LABORATORY
SUPPLIERS LTD, PALSHA LIMITED, R.H AND SONS LTD, HARIA PRINTERS LIMITED. |
Affiliated companies. |
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None |
Shareholder of subject
firm. |
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Kisumu and Mombasa in Kenya Dar Es Salaam, Tanzania and Kampala, Uganda |
Branches of the firm |
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Registered to operate as
importers and distribution of pharmaceuticals, Laboratory equipment and
medicines and related facilities |
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Imports: |
Asia, UK |
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Exports: |
East Africa i.e. Tanzania, Uganda, Rwanda, Burundi, Congo, Seychelles,
Zanzibar, Malawi, Zambia, Liberia, Sierra Leon and South Sudan |
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Trademarks: |
Deep Heat, Artefan, Ascoril, Candid, Medimax, Keeler and Pinkoo |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
Distributors, Medical institutions etc |
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Employees: |
75 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Owned premises, 2226 square meters, |
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Auditors: |
PKF KENYA |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Kenya Shillings (KES.) |
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Approx. Ex. Rate: |
1 US Dollar = 86.50 Kenya
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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2013 |
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Sales |
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1,745,000,000 |
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Bank Name: |
BARCLAYS
BANK |
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Branch: |
Kenya |
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Comments: |
Other Banks |
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CO-OPERATIVE BANK LIMITED |
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I&M BANK LIMITED |
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CFC BANK LIMITED |
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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.62.69 |
|
|
1 |
Rs.102.97 |
|
Euro |
1 |
Rs.84.58 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
RATING EXPLANATIONS
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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 |
-- |
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.