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Report Date : |
13.06.2014 |
IDENTIFICATION DETAILS
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Name : |
LODHIA PLASTIC
INDUSTRIES LTD |
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Formerly Known as : |
TRISHALA PLASTICS LIMITED |
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Registered Office : |
Plot 26 Themi Industrial Area,
Njiro, Arusha |
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Country : |
Tanzania |
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Date of Incorporation : |
19.11.2009 |
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Com. Reg. No.: |
73732 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and distributors
of Plastics specializing In types of Pipes - PVC (Bore Well, Drainage,
Conduit), HDPE, PPR and Water Tanks |
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No of Employees : |
120 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Tanzania |
B2 |
B2 |
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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 |
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 2009-13 was a respectable 6-7% per year due to high gold prices and increased production.
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Source
: CIA |
Registered Name: LODHIA PLASTIC INDUSTRIES LTD
Requested Name: LODHIN
PLASTIC INDUSTRIES LTD
Former Names: TRISHALA PLASTICS LIMITED
Physical Address: Plot 26 Themi Industrial Area,
Njiro, Arusha
Postal Address: P. o. Box 12167
Arusha,
Country: Tanzania
Phone: 255-232548520/8504/272548504/8520
Cell: 255-717626262
Fax: 255-232548748/272548748
Email: info@lodhiagroup.com/sales@lodhiagroup.com
Website: www.lodhiagroup.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: 19-Nov-2009
Reg. Number: 73732
Nominal Capital TZS. 10,000,000
Subscribed Capital TZS. 10,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Arun Vithaldas
Lodhia MD
Mrs. Divya Arun
Lodhia Director
Lodhia Group of
Companies Holding Co.
Lodhia Group of
Companies Parent company.
None Subsidiary company.
LODHIA STEEL INDUSTRIES
LIMITED,
STEEL CENTRE WHOLESALE LTD,
STEEL CENTRE LTD,
THEMI SUITES,
TRISHALA GASES LIMITED,
SIGNATURE GEMS LIMITED,
LODHIA GYPSYUM
INDUSTRIES. Affiliated companies.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as manufacturers and distributors of Plastics specializing In types
of Pipes - PVC (Bore Well, Drainage, Conduit), HDPE, PPR and Water Tanks
Imports: USA,
Saudi Arabia, Korea, Middle East and the Far East
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores, outlets, firms and organizations
Employees: 120
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tanzania
Location: Rented
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tanzania Shillings (TZS.)
Approx. Ex. Rate: 1 US Dollar = 1666.51 Tanzania 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 7,820,000,000
Bank Name: EXIM BANK TANZANIA LIMITED
Branch: Uhuru
Road, Mount Meru Branch
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.59.33 |
|
|
1 |
Rs.99.68 |
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Euro |
1 |
Rs.80.30 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
|
<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.