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Report Date : |
10.01.2014 |
IDENTIFICATION DETAILS
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Name : |
G M DEWJI & CO LTD |
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Registered Office : |
GMD Building Jamhuri Street, Dar Es Salaam |
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Country : |
Tanzania |
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Date of Incorporation : |
01.03.1978 |
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Com. Reg. No.: |
6166 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as general trading company, dealing with automotive products such as brake fluid, batteries, cosmetics, plastic containers and also exporter of television advertising products |
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No. of Employees : |
65 |
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
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Tanzania |
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 |
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.
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Source
: CIA |
Registered Name: G M DEWJI & CO LTD.
Requested Name: G
M DEWJI & CO LTD.
Other Names: None
Physical Address: GMD Building Jamhuri Street, Dar Es Salaam
Postal Address: P. o. Box 2112
Dar Es Salaam
Country: Tanzania
Phone: 255-22-2128641/3
Cell: 255-741786110
Fax: 255-22-2128646
Email: shabbir.dtv@raha.com/dtvs@raha.com
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 01-March-1978
Reg. Number: 6166
Nominal Capital TZS. 1,000,000,000 Divided into
shares 10,000 each TZS. 100,000
Subscribed Capital TZS. 620,000,000 Divided
into shares 6,200
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Shabbir A.
Dewji MD 5,668
Mr. Murtaza A.
Dewji Director 154
Ms. Fatma Akber
Hussein Dewji Director 147
Mr. Abbas Akber
Hussein Dewji Director 56
Mr. Akber Hussein
Dewji Director 7
Mr. Sajjad Akber
Hussein Dewji Director 56
Mr. Hasnain Akber
Dewji Director 56
Mr. Mohamed Akber
Dewji Director 56
None Parent company.
None Subsidiary company.
TANZANIA SPRING INDUSTRIES
& AUTOPARTS LTD,
WORLDLINK TRAVEL &
TOURS LTD, FILTON TANZANIA LTD,
DAR ES SALAAM TELEVISION
SERVICES,
TEMBO BATTERIES
MANUFACTURING CO. LTD,
VIRTUAL BAZAAR LTD,
MUSAWIR COSMETICS,
AUTOMOTIVE PACKED PRODUCTS LTD. Affiliated companies.
None Shareholder of subject firm.
None Branches of the firm
Registered
to operate as general trading company, dealing with automotive products such as
brake fluid, batteries, cosmetics, plastic containers and also export of
television advertising products
Imports: Asia,
Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 65
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tanzanian Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1616.52 Tanzanian Shillings
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in TZS.)
2013
Sales 14,200,000,000
Bank Name: COMMERCIAL BANK OF AFRICA
Branch: Tanzania
Comments: Other Banks
CRBD BANK
STANBIC BANK (T) LTD
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.62.18 |
|
|
1 |
Rs.102.31 |
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Euro |
1 |
Rs.84.50 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
-- |
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.