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Report Date : |
03.09.2014 |
IDENTIFICATION DETAILS
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Name : |
BAVIMA |
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Registered Office : |
Plot
No.50, |
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Country : |
Uganda |
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Date of Incorporation : |
03.02.2001 |
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Com. Reg. No.: |
BN-126920 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operate as
dealers in general merchandise such as cement, construction materials,
plumbing & sanitary ware, carpentry & joinery, tools and equipments |
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No. of Employees |
15 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Uganda |
B2 |
B2 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
UGANDA - ECONOMIC OVERVIEW
Uganda has substantial natural resources, including fertile soils,
regular rainfall, small deposits of copper, gold, and other minerals, and
recently discovered oil. Uganda has never conducted a national minerals survey.
Agriculture is the most important sector of the economy, employing over 80% of
the work force. Coffee accounts for the bulk of export revenues. Since 1986,
the government - with the support of foreign countries and international
agencies - has acted to rehabilitate and stabilize the economy by undertaking
currency reform, raising producer prices on export crops, increasing prices of
petroleum products, and improving civil service wages. The policy changes are
especially aimed at dampening inflation and boosting production and export
earnings. Since 1990 economic reforms ushered in an era of solid economic
growth based on continued investment in infrastructure, improved incentives for
production and exports, lower inflation, better domestic security, and the
return of exiled Indian-Ugandan entrepreneurs. The global economic downturn
hurt Uganda's exports; however, Uganda's GDP growth has largely recovered due
to past reforms and sound management of the downturn. Oil revenues and taxes
will become a larger source of government funding as oil comes on line in the
next few years. Instability in South Sudan is a risk for the Ugandan economy
because Uganda's main export partner is Sudan, and Uganda is a key destination
for Sudanese refugees. Unreliable power, high energy costs, inadequate
transportation infrastructure, and corruption inhibit economic development and
investor confidence.
|
Source
: CIA |
|
Registered Name: |
BAVIMA
ENTERPRISE |
|
Requested Name: |
BABUBHAI PATEL TRADING AS BAVIMA ENTERPRISE |
|
Other Names: |
None |
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Physical Address: |
Plot
No.50, Lubas Road, |
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Postal Address: |
P.
o. Box No. 761 |
|
|
Jinja |
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Country: |
Uganda |
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Phone: |
256-434121297/434120049 |
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Cell: |
256-75270000/75412129 |
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Fax: |
256-434120049 |
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Email: |
bavima@source.co.ug |
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Website: |
None |
|
Legal Form: |
Sole Proprietorship |
|
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Date Incorporated: |
3-Feb-2001 |
|
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Reg. Number: |
BN-126920 |
|
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Nominal Capital |
UGS.
1,000,000 |
|
|
Subscribed Capital |
UGS.
1,000,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Manish Babubhai Patel |
MD |
|
|
Mr. Valand Rajeshbhai Girdharbhai |
Director |
|
|
Mr. Jaykumar Khakhar |
Finance |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
Registered to operate as
dealers in general merchandise such as cement, construction materials,
plumbing & sanitary ware, carpentry & joinery, tools and equipments |
|
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Imports: |
Asia, Middle East |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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|
|
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Main Customers: |
Local agencies, firms and organizations |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Uganda |
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Location: |
Rented premises, 10,000 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Ugandan Shillings (UGS.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 2615.01
Ugandan Shillings |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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||
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Financial Information not
Submitted |
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Profit and Loss
(expressed in UGS.) |
||
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|
|
2013 |
|
Sales |
|
2,850,000,000 |
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Bank Name: |
Cairo
International Bank |
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Branch: |
Uganda |
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Comments: |
None |
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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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.60.61 |
|
UK Pound |
1 |
Rs.100.49 |
|
Euro |
1 |
Rs.79.56 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
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Report Prepared
by : |
SDA |
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 |
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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 |
|
|
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.