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Report No. : |
315277 |
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Report Date : |
06.04.2015 |
IDENTIFICATION DETAILS
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Name : |
NILE PERCH FISHERIES LIMITED |
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Registered Office : |
Plot No. 8 Nyakato Industrial Area, P. O. Box 1753, Mwanza |
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Country : |
Tanzania |
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Date of Incorporation : |
21.03.1991 |
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Com. Reg. No.: |
19193 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate fish
processing plant and trawlers for shrimp fishing |
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No. of Employees : |
800 Employees. |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Tanzania |
B2 |
B2 |
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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 |
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.
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Source
: CIA |
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Registered Name: |
NILE PERCH FISHERIES
LIMITED |
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Requested Name: |
NILE PERCH FISHERIES LIMITED |
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Other Names: |
None |
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Physical Address: |
Plot
No. 8 Nyakato Industrial Area, |
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Postal Address: |
P.
o. Box 1753 |
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Mwanza |
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Country: |
Tanzania |
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Phone: |
255-28-2570432/2570329/2570431/2/2571765 |
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Cell: |
255-784887487 |
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Fax: |
255-282570430 |
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Email: |
info@nileperchfisheries.com |
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Website: |
www.nileperchfisheriesltd.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
21-March-1991 |
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Reg. Number: |
19193 |
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Nominal Capital |
TZS.
100,000,000 |
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Subscribed Capital |
TZS.
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. Nizar R. Jivani |
MD |
7.50% |
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Mr. Zulfikar G. Remtulla |
Director |
7.50% |
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Mr. Diamond G. Remtulla |
Director |
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Tropical Fisheries Ltd |
Holding
Co. |
85.00% |
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Tropical Fisheries Ltd |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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Mr. Nizar R. Jivani Mr. Zulfikar G. Remtulla |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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Registered to operate
fish processing plant and trawlers for shrimp fishing |
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Imports: |
Europe, Asia |
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Exports: |
Europe, USA, Middle and Far East |
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Trademarks: |
None |
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Terms of sale: |
Cash (50%) and 25-90 days (50%), invoices. |
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Main Customers: |
Local agencies, firms and organizations |
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Employees: |
800 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Rented premises, 30,000 square feet, |
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Auditors: |
M.A. Hassam & Co. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 1851.47
Tanzanian 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 TZS.) |
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2014 |
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Sales |
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55,200,000,000 |
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Bank Name: |
Diamond
Trust Bank Tanzania Limited |
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Branch: |
Mwanza Branch,Tanzania |
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Comments: |
Other banks |
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Kenya Commercial Bank (T)
Ltd |
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Experiences: |
Good |
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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.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
: |
DIV |
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Report Prepared
by : |
NIT |
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.