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Report No. : |
315448 |
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Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
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Name : |
GENERAL PRINTERS LIMITED |
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Registered Office : |
16 Homabay
Road Industrial Area, Nairobi, P. o. Box 18001-00500, Nairobi |
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Country : |
Kenya
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Date of Incorporation : |
31.01.1967 |
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Com. Reg. No.: |
7037 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
dealers in commercial printers, specializing in Printing textbooks,
calendars, flexible packaging & rigid cartons, manufacture of chipboard
cartons and other similar products |
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No. of Employees : |
220 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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 hKenya 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, although the Kenyatta
administration has prioritized infrastructure development. International
financial lenders and donors remain important to Kenya's economic growth and
development. Unemployment is high at around 40%. The country has chronic budget
deficits. Inflationary pressures and sharp currency depreciation peaked in
early 2012 but have since abated following low global food and fuel prices and
monetary interventions by the Central Bank. Recent terrorism in Kenya and the
surrounding region threatens Kenya's important tourism industry. Kenya, in
conjunction with neighboring Ethiopia and South Sudan, intends to begin
construction on a transport corridor and oil pipeline into the port of Lamu in
2014.
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Source
: CIA |
Company
name
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Registered Name: |
GENERAL PRINTERS
LIMITED |
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Requested Name: |
GENERAL PRINTERS LIMITED |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
16
Homabay Road Industrial Area, Nairobi, |
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Postal Address: |
P.
o. Box 18001-00500 |
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Nairobi |
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Country: |
Kenya |
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Phone: |
254-20-6532600/10/559277/532600/100 |
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Cell: |
254-722204350/733640340 |
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Fax: |
254-20-545640/6/651479/480 |
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Email: |
info@gplflexibles.com |
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Website: |
www.gplflexibles.com |
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CREDIT
OPINION
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Financial Index as of
December 2014 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: |
31-Jan-1967 |
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Reg. Number: |
7037 |
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Nominal Capital |
KES.
100,000,000 |
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Subscribed Capital |
KES.
100,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Ketul Surendra
Tanna |
MD |
7.69% |
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Mr. Rumeet Surendra
Tanna |
Director |
7.69% |
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Mr. Priyen Mahendra
Tanna |
Director |
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Mr. Bhavnish Tanna |
Director |
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Mrs. Santokbhai Tanna |
Director |
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Estate Of The Late Mr.Surendra Chaganlal Tann |
Parent
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84.62% |
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RELATED
COMPANIES
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Estate Of The Late Mr.Surendra Chaganlal Tann |
Parent company. |
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None |
Subsidiary company. |
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AERADIO PRINTERS LTD |
Affiliated company. |
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Mr. Ketul Surendra Tanna Mr. Rumeet Surendra Tanna |
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 commercial printers, specializing in Printing textbooks, calendars,
flexible packaging & rigid cartons, manufacture of chipboard cartons and
other similar products |
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Imports: |
Europe, South Africa |
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Exports: |
Eastern and Southern Africa |
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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: |
220 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Owned premises, 20,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
JOY V. BHATT & CO. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Kenyan Shillings (KES.) |
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Approx. Ex. Rate: |
1 US Dollar = 92.80
Kenyan Shillings |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in KES.) |
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2012 |
2013 |
2014 |
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Sales |
2,413,650,035 |
3,150,000,000 |
3,850,000,000 |
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BANK
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Bank Name: |
BARCLAYS
BANK OF KENYA LIMITED |
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Branch: |
Kenya |
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Comments: |
Other Banks |
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NIC BANK (KENYA) LIMITED |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
None |
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COMMENTS
/ ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and confirmed
the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.62.59 |
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1 |
Rs.92.46 |
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Euro |
1 |
Rs.67.51 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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.