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Report Date : |
10.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BEDI INVESTMENT
LTD. |
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Registered Office : |
LR, No. 451/1978, lower K S Bedi factory road, Industrial Area, Nakuru |
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Country : |
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Date of Incorporation : |
28.06.1972 |
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Com. Reg. No.: |
10981 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
·
manufacturer of textile
and garments Subject business activities also includes investments in Asset-Backed Businesses Subject is also involved in Merchant Banking activities such as Financing, Advisory and Investing
Arena in the Global Capital Markets. |
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No of Employees : |
220 |
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 : |
Slow but Correct |
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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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Kenya |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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,
although the Kenyatta administration has prioritized infrastructure
development. International financial lenders and donors remain key to Kenya’s
economic growth and development. Unemployment is high at around 40%. The
country has experienced chronic budget deficits, inflationary pressures, and
sharp currency depreciation - but has recovered following low global food and
fuel prices. 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: BEDI INVESTMENT LTD.
Requested Name: BEDI
INVESTMENT LTD.
Other Names: None
Physical Address: LR,
No. 451/1978, lower K S Bedi factory road, Industrial Area, Nakuru
Postal Address: P.o Box 230-20100,
Nakuru
Country: Kenya
Phone: 254-51-2212320/1/2
Cell: 254-722202909
Fax: 254-51-2216214
Email: info@bedi.com / js@bedi.com
Website: www.bedi.com
Financial Index as of December 2013 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 28-June-1972
Reg. Number: 10981
Nominal Capital KES. 34,500,000 Divided into
shares of 345,000 each KES. 100
Subscribed Capital KES. 34,500,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Jarnali Singh
Bedi Chairman 33,467
Mr. Jaswinder
Singh Bedi CEO 10,000
Mr. Satwinder Singh Bedi COO 10,000
Mr. Karnail Singh
Bedi Director 23,467
Mr. Tejpal Singh
Bedi Director 10,000
Mr. Ravinderpal
Singh Bedi Director 10,000
Mr. Karnal Singh Bedi and Mrs. Surinder .K. Bedi Shareholder 129,033
Mr. Jarnail Singh & Mrs. Ravinder Kaur Bedi Shareholder 109,033
Mr. Inderjit Singh Bedi Shareholder 10,000
Mr. Karnal Singh Bedi and Mrs. Surinder .K. Bedi Shareholder 129,033
None Parent company.
None Subsidiary company.
ORBIT CHEMICALS LTD Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
·
manufacturer of textile
and garments
Subject business activities also includes investments in Asset-Backed Businesses
Subject is also involved in Merchant Banking activities such as Financing, Advisory and Investing
Arena in the Global Capital Markets.
Imports: Asia
Exports: Worldwide
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 220
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Owned
premises, 20,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Kenya Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 87.90 Kenya 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 KES.)
2012 2013
Sales 1,200,000,000 1,350,000,000
Bank Name: BARCLAYS BANK OF KENYA LIMITED
Branch: Nakuru West Branch, Box 111 Nakuru.
Comments: None
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.59.73 |
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UK Pound |
1 |
Rs.102.36 |
|
Euro |
1 |
Rs.81.38 |
INFORMATION DETAILS
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Analysis Done by
: |
RAS |
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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 |
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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.