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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
TRACTORS LIMITED |
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Registered Office : |
Plot 2 Kange Industrial Area, Tanga |
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Country : |
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Date of Incorporation : |
26.01.1994 |
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Com. Reg. No.: |
39930 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Registered to operate as dealers
in tractors, spare parts and accessories |
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No. of Employees : |
30 |
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) |
|
Tanzania |
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 |
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 |
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Registered Name: |
TRACTORS LIMITED |
|
Requested Name: |
TRACTORS LIMITED |
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Other Names: |
None |
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ADDRESS AND TELECOMMUNICATION
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Physical Address: |
Plot
2 Kange Industrial Area, Tanga |
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Postal Address: |
P.
o. Box No. 34 |
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Tanga |
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Country: |
Tanzania |
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Phone: |
255-27-2646853/4/2646182 |
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Cell: |
255-784421606 |
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Fax: |
225-27-2646882 |
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Email: |
mwapili@pptl.diz |
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Website: |
None |
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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. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
04-Sept-2000 |
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Founded: |
26/01/1994 |
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Reg. Number: |
39930 |
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Trade License: |
246364 |
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Nominal Capital |
TZS.
20,000,000 |
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Subscribed Capital |
TZS.
20,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Jonathan Lane Aubrey |
MD |
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Director |
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Mr. Tahir Ali Paliwalla |
Director |
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Mr. Ashwin B. Mavani |
Director |
|
|
Mr. Kishore P. Devani |
Director |
|
|
Pee Pee Holdings, |
Holding |
100.00% |
|
Pee Pee Holdings, |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
|
|
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Registered to operate as
dealers in tractors, spare parts and accessories |
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Imports: |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
30 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Owned 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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FINANCE
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 1670.50
Tanzanian 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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Financial Information not
Submitted |
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Profit and Loss
(expressed in TZS.) |
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2013 |
|
Sales |
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12.471,000,000 |
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BANK
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Bank Name: |
CRDB
Bank |
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Branch: |
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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. Subject underwent a
capital increase. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.22 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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|
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Report Prepared
by : |
PDT |
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 |
|
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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.