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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
JUPITER IMPEX LTD |
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Registered Office : |
Plot No 53 & 64/66, |
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Country : |
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Date of Incorporation : |
18.08.2000 |
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Com. Reg. No.: |
45502 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
importers and wholesalers of general merchandise such as bicycles, bicycle parts, bicycle tyre-tubes, hardware’s, construction materials, cement, paints, ceramic tiles & sanitary wares, pipes & fittings |
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No. of Employees |
10 |
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 – 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 |
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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 |
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. Uganda has received about $2 billion in multilateral and
bilateral debt relief. In 2007 Uganda received $10 million for a Millennium
Challenge Account Threshold Program. 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.
Rising food and fuel prices in 2011 led to protests. 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: JUPITER IMPEX LTD
Requested Name: JUPITER
IMPEX LTD
Other Names: None
Physical Address: Plot No 53 & 64/66, Obaja
Road
Postal Address: P. o. Box
Jinja
Country: Uganda
Phone: 256-434122366/122388
Fax: 256-43120009
Email: jupitergroup@gmail.com / jupitergroup2@gmail.com
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 18-Aug-2000
Reg. Number: 45502
Nominal Capital UGS. 100,000,000 Divided into Shares 10,000 each Value
UGS.10,000
Subscribed Capital UGS. 100,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Chetani K.
Sangani MD
Mr. Harish C. J.
Madlani Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as importers and wholesalers of general
merchandise such as bicycles, bicycle parts, bicycle tyre-tubes, hardware’s,
construction materials, cement, paints, ceramic tiles & sanitary wares,
pipes & fittings
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Uganda
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ugandan Shillings (UGS.)
Approx. Ex. Rate: 1 US Dollar = 2532.95 Ugandan 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 UGS.)
2013
Sales 3,500,000,000
Bank Name: BANK OF BARODA (U) LTD
Branch: Kampala, Uganda
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.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Report Prepared
by : |
TPT |
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 |
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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 |
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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 |
|
-- |
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.