MIRA INFORM REPORT
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Report No. : |
315696 |
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Report Date : |
10.04.2015 |
IDENTIFICATION DETAILS
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Name : |
VINTZ INDUSTRIES LIMITED |
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Registered Office : |
Mombasa Road Embaker Behind Tuskys, P. o. Box 793290 Nairobi, |
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Country : |
Kenya |
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Date of Incorporation : |
11.03.2003 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operate as dealers in
plastic products and related facilties |
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No. of Employee : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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: |
VINTZ INDUSTRIES
LIMITED |
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Requested Name: |
VINTZ INDUSTRIES LIMITED |
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Other Names: |
VINTZ PLASTICS LTD |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Mombasa
Road Embaker Behind Tuskys, |
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Postal Address: |
P.
o. Box 793290 |
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Nairobi, |
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Country: |
Kenya |
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Phone: |
254-725365421 |
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Fax: |
254-725365421 |
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Email: |
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Website: |
None |
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CREDIT
OPINION
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Financial Index as of
December 2014 shows subject firm with a high risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
11-March-2003 |
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Reg. Number: |
Kenya |
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Nominal Capital |
KES.
100,000 |
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Subscribed Capital |
KES.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. James O. |
Director |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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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 plastic products and related facilties |
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Imports: |
USA |
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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: |
50 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Rented premises, 100,000 square feet, |
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AUDITORS
AND INSURANCE
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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: |
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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2014 |
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Sales |
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15,000,000 |
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BANK
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Bank Name: |
Prime
Bank |
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Branch: |
Kenya |
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Comments: |
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.62.26 |
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1 |
Rs.92.49 |
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Euro |
1 |
Rs.66.99 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
ANK |
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 |
-- |
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.