|
Report Date : |
27.10.2014 |
IDENTIFICATION DETAILS
|
Name : |
DESBRO TANZANIA LTD |
|
|
|
|
Registered Office : |
Plot 107/108, Nyerere Rd, P.O. Box 9760, Dar Es Salaam |
|
|
|
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Country : |
Tanzania |
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|
|
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Date of Incorporation : |
03.11.1993 |
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|
|
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Com. Reg. No.: |
23925 |
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|
|
|
Legal Form : |
Limited Corporation |
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|
|
|
Line of Business : |
Subject to operate of Industrial and Domestic Chemicals and Plastic. |
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|
|
|
No. of Employees : |
150 Employee |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
|
Registered Name: |
DESBRO TANZANIA
LTD |
|
Requested Name: |
DESBRO TANZANIA LTD |
|
Other Names: |
None found. |
|
Physical Address: |
Plot 107/108, Nyerere Rd,
Dar Es Salaam, Tanzania |
|
Postal Address: |
P.o
Box 9760 |
|
|
Dar
Es Salaam |
|
Country: |
Tanzania |
|
Phone: |
255-22-2864752 |
|
Cell: |
255-744785530 |
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Fax: |
255-22-2866210 |
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Email: |
desbrotz@raha.com |
|
Website: |
www.desbrogroup.com |
|
Legal Form: |
Limited Corporation |
|
|
Date Incorporated: |
3-Nov-1993 |
|
|
Reg. Number: |
23925 |
|
|
Nominal Capital |
TZS
50,000,000 |
|
|
Subscribed Capital |
TZS
28,502,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Suman Kumar Sennik |
MD/
CEO |
|
|
Mr. Anish Kumar Sennik |
Director |
|
|
Mr.
Andre Rey |
Director |
|
|
Mr.
Lucie Chong Wing Hin |
Director |
|
|
Mr.
Vinod Mundhra |
Manager |
|
|
Desbro Holdings Limited |
Holding
Co. |
100% |
|
Desbro Holdings Limited |
Parent company. |
|
None |
Subsidiary company. |
|
Below |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
In Kenya and Mauritius |
Branches of the firm |
|
Registered to operate of
industrial and domestic chemicals and plastic |
|
|
Imports: |
Asia, Middle East, Europe,South Africa |
|
Exports: |
Neighboring countries |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (30%) and 30 days (70%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
150 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Tanzania |
|
Location: |
Rented premises, 2.000 square feet, |
|
Auditors: |
TANNA SREEKUMAR AND
COMPANY |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
Tanzanian Shillings (TZS) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 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 |
|
25,000,000,000 |
|
Bank Name: |
CITIBANK
TANZANIA LTD |
|
Branch: |
Dar
Es Salaam, Tanzania |
|
Comments: |
None |
|
Experiences: |
Good |
None
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject.
|
DESBRO ENGINEERING LTD |
|
ROMOLD (MAURITIUS) LTD |
|
DESBRO EXPORTS LTD |
|
DESBRO POLYMERS LTD |
|
DESBRO KENYA LTD |
|
DESBRO TRADING LTD |
|
DESBRO UGANDA LTD |
|
GALAVANISED & FIRE WIRES LTD |
|
INDUSTRIAL DISTRIBUTORS LTD |
|
MESH & STEEL TRADING LTD |
|
MRC WIRE PRODUCTS LTD |
|
PIPING SYSTEMS LTD |
|
PLASTIC COMPOUNDERS CO LTD |
|
PLASTIC FITTINGS LTD |
|
PLASTIC PIPES & PRODUCTS LTD |
|
PLASTIC PROFILES LTD |
|
PLATIC FITTINGS LTD |
|
POLYPIPE LTD |
|
PPP PIPING SYSTEMS LTD |
|
SHANGHAI EXPRESS RESTAURANT LTD |
|
SOCIETE DES TUBES ET RACCORDS MARKETING LTEE |
|
TANDOORI EXPRESS RESTAURANT LTD |
|
STR MARKETING LTEE |
|
AFRI PIPING SYSTEMS (PTY) LTD |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.24 |
|
|
1 |
Rs.98.67 |
|
Euro |
1 |
Rs.77.97 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
|
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 |
-- |
|
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.