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Report Date : |
08.02.2014 |
IDENTIFICATION DETAILS
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Name : |
LISA CHEMICALS UGANDA LTD |
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Registered Office : |
Plot |
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Country : |
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Date of Incorporation : |
2011 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as importers
of laboratory equipment, schools apparatus, hospital equipments, industrial
equipments |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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) |
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Uganda |
B2 |
B2 |
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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 |
UGANDA - ECONOMIC OVERVIEW
Uganda has substantial natural resources, including fertile soils, regular rainfall, small deposits of copper, gold, and other minerals, and recently discovered oil. Uganda has never conducted a national minerals survey. Agriculture is the most important sector of the economy, employing over 80% of the work force. Coffee accounts for the bulk of export revenues. Since 1986, the government - with the support of foreign countries and international agencies - has acted to rehabilitate and stabilize the economy by undertaking currency reform, raising producer prices on export crops, increasing prices of petroleum products, and improving civil service wages. The policy changes are especially aimed at dampening inflation and boosting production and export earnings. Since 1990 economic reforms ushered in an era of solid economic growth based on continued investment in infrastructure, improved incentives for production and exports, lower inflation, better domestic security, and the return of exiled Indian-Ugandan entrepreneurs. Uganda has received about $2 billion in multilateral and bilateral debt relief. In 2007 Uganda received $10 million for a Millennium Challenge Account Threshold Program. The global economic downturn hurt Uganda's exports; however, Uganda's GDP growth has largely recovered due to past reforms and sound management of the downturn. Oil revenues and taxes will become a larger source of government funding as oil comes on line in the next few years. Rising food and fuel prices in 2011 led to protests. Instability in South Sudan is a risk for the Ugandan economy because Uganda''s main export partner is Sudan, and Uganda is a key destination for Sudanese refugees. Unreliable power, high energy costs, inadequate transportation infrastructure, and corruption inhibit economic development and investor confidence.
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Source
: CIA |
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Registered Name: |
LISA CHEMICALS
UGANDA LTD |
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Requested Name: |
LISA CHEMICALS UGANDA LTD |
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Other Names: |
None |
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Physical Address: |
Plot 282 St Barnabas Road, Kisugu Muyenga,
Kampala |
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Postal Address: |
P.
o. Box 10555 |
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Kampala, |
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Country: |
Uganda |
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Phone: |
256-414-269958 |
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Cell: |
256-753160805 |
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Fax: |
256-414-256797 |
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Email: |
lisachemicalstz@gmail.com |
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Website: |
None |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
2011 |
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Reg. Number: |
Uganda |
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Nominal Capital |
UGS.
1,000,000 |
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Subscribed Capital |
UGS.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mrs. Lisa Kaaya |
MD |
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Mrs. Joyce Kigozi |
Director |
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Ms. Tina Kaaya |
Director |
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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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None |
Branches of the firm |
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Registered to operate as
importers of laboratory equipment, schools apparatus, hospital equipments, industrial
equipments |
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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: |
Medical firms and organizations |
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Employees: |
10 employees. |
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Vehicles: |
None Stated |
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Territory of sales: |
Uganda |
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Location: |
Rented premises, 1,500 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: |
Ugandan Shillings (UGS.) |
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Approx. Ex. Rate: |
1 US Dollar =
2470.04Ugandan 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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Bank Name: |
CRANE
BANK |
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Branch: |
Uganda |
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Comments: |
None |
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This information was obtained
from outside sources other than the subject company itself .
We are undergoing
difficulties in obtaining factual information on Subject Company. Subject’s
file at the Registrar of Companies’ Office cannot be traced.
A physical visit was made
to the above physical address provided subject was not located since the plot
was under construction hence could not verify its exact activity.
We believe this is a fake
company of which there are several in Uganda.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.32 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.84.68 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
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.