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Report Date : |
20.03.2014 |
IDENTIFICATION DETAILS
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Name : |
PRIYANN ENTERPRISES LTD |
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Registered Office : |
Ideal
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Country : |
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Date of Incorporation : |
01.02.2001 |
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Com. Reg. No.: |
92669 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Engaged in wholesaling and retailing of Chemicals such as enzymes and tanning chemicals, chromium Sulphate, rosin amine salts, benzalkonium, lecitin base, copper sulphate and allied products |
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No. of Employees |
30 |
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 – december 01, 2013
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Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
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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 |
Registered Name: PRIYANN ENTERPRISES LTD
Requested Name: PRIYANN
ENTERPRISES LTD
Other Names: None
Physical Address: Ideal Corner Lusaka Road, Opp
Dobie, Nairobi
Postal Address: P. o. Box No 18415-00500
Nairobi,
Country: Kenya
Phone: 254-20-248350/559792/552712
Fax: 254-20-248350/552716
Email: info@priyann.com/priyann@nbi-ispkenya.com
Website: None
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: 1-Feb-2001
Reg. Number: 92669
Nominal Capital KES. 100,000 divided into Shares
1,000 each KES. 100
Subscribed Capital KES. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mrs. Uppalapati Padma Priya MD/ CEO 670
Mr. Uppalapati Venkata Ramana
Chowdary Director 110
Mr. Dukkipati Naresh Kumar Director 330
Mr. Tadiparthi Jayabharat Reddy GM
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate wholesaling and retailing of Chemicals such as
enzymes and tanning chemicals, chromium Sulphate, rosin amine salts,
benzalkonium, lecitin base, copper sulphate and allied products
Imports: Asia,
Africa, Europe
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 8,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 86.55 Kenyan 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.)
2013
Sales 550,000,000
Bank Name: BANK OF INDIA
Branch: Industrial Area Branch, Nairobi, Kenya
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.09 |
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1 |
Rs.101.41 |
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Euro |
1 |
Rs.85.08 |
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 |
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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.