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Report Date : |
06.02.2014 |
IDENTIFICATION DETAILS
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Name : |
DIVERSEY EASTERN AND CENTRAL AFRICA LIMITED |
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Formerly Known As : |
JOHNSON DIVERSEY LEVER EAST AFRICA LIMITED |
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Registered Office : |
LR12185/3,
Cooper Complex, Kaptagat Road/Loresho, |
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Country : |
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Date of Incorporation : |
24.06.2002 |
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Com. Reg. No.: |
C9441 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as manufacturers, importers and distributors of chemical detergents, dyes, disinfectants, floor/ carpet care, sanitary liquids, odor control, flavours and cleaning equipments. |
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No. of Employees : |
85 |
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 – September 30, 2013
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Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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Kenya |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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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
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Source
: CIA |
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Registered Name: |
DIVERSEY EASTERN AND CENTRAL AFRICA LIMITED |
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Requested Name: |
DIVERSEY |
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Former Names: |
JOHNSON DIVERSEY LEVER EAST AFRICA LIMITED |
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Physical Address: |
LR12185/3,
Cooper Complex, Kaptagat Road/Loresho, Nairobi, |
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Postal Address: |
P.
o. Box 41939-00100, |
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Nairobi, |
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Country: |
Kenya |
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Phone: |
254-20-3000080/3008000/3007071-6/3007078-9 |
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Cell: |
254-703040000/722754074/204096/209721/
733604593 |
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Fax: |
254-20-580509 |
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Email: |
customersericekenya@diverseylever.com |
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Website: |
www.diversey.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
24-June-2002 |
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Reg. Number: |
C9441 |
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Nominal Capital |
KES.
103,000,000 Divided into Shares 5,150,000 each KES.20 |
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Subscribed Capital |
KES.
99,120,000 being 4,956,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Boniface Kimani Kariuki |
MD |
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Mr. Arthur Kamau |
Director |
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Mr. David Christopher Quast |
Director |
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Mrs. Mwihaki Njehu |
Director |
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Mr. John Mwangemi |
Director |
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Ms. Judy Macharia |
Director |
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Mr. Scott Russel |
Shareholder |
1 |
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SEALED AIR CORPORATION |
Holding Co. |
4,955,999 |
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_______________________________________________________________________ |
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RELATED COMPANIES |
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Warehouse
no 53 Off Outering Road Ruaka, Nairobi, |
Branches of the firm |
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Registered to operate as manufacturers,
importers and distributors of chemical detergents, dyes, disinfectants,
floor/ carpet care, sanitary liquids, odor control, flavours and cleaning equipments. |
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Imports: |
Netherlands, South Africa |
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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: |
85 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Owned premises, 20,000 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: |
Kenya Shillings (KES.) |
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Approx. Ex. Rate: |
1 US Dollar = 86.40 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 ETB.) |
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2013 |
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Sales |
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1,200,000,000 |
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Bank Name: |
CITIBANK N A |
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Branch: |
Citi
Bank House, Upper Hill Road Branch, Nairobi, Kenya |
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Comments: |
None |
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Experiences: |
Good |
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.45 |
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1 |
Rs.102.01 |
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Euro |
1 |
Rs.84.35 |
INFORMATION DETAILS
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Report Prepared
by : |
NIS |
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 |
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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.