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Report No. : |
318325 |
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Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
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Name : |
JUPITER IMPEX LTD |
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Registered Office : |
Plot
No 53 & 64/66, Obaja Road, P. o. Box Jinja |
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Country : |
Uganda |
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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, hardwares,
construction materials, cement, paints, ceramic tiles & sanitary wares,
pipes & fittings. |
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No. of Employees : |
10 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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Uganda |
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 |
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. 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. 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, although lower oil prices since 2014 may prove a stumbling block to further exploration and development. 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.
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Source
: CIA |
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SUBJECT'S NAME |
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Registered Name: |
JUPITER IMPEX
LTD |
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Other Names: |
None |
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Physical Address: |
Plot
No 53 & 64/66, Obaja Road |
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Postal Address: |
P.
o. Box |
|
|
Jinja |
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Country: |
Uganda |
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Phone: |
256-434122366/122388 |
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Fax: |
256-43120009 |
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Email: |
jupitergroup@gmail.com/ jupitergroup2@gmail.com |
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Website: |
None |
Financial Index as of
December 2013 shows subject firm with a medium risk of credit.
|
Legal Form: |
Limited Corporation |
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Date Incorporated: |
18-Aug-2000 |
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Reg. Number: |
45502 |
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Nominal Capital |
UGS.
100,000,000 Divided into Shares 10,000 each Value
UGS.10,000 |
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Subscribed Capital |
UGS.
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. Chetani K. Sangani |
MD |
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Mr. Harish C. J. Madlani |
Director |
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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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Registered to operate as
importers and wholesalers of general merchandise such as bicycles, bicycle
parts, bicycle tyre-tubes, hardwares, construction materials, cement, paints,
ceramic tiles & sanitary wares, pipes & fittings |
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Imports: |
Asia |
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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: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Uganda |
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Location: |
Rented premises, 5,000 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Ugandan Shillings (UGS.) |
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Approx. Ex. Rate: |
1 US Dollar = 2532.95
Ugandan 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 UGS.) |
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2013 |
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Sales |
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3,500,000,000 |
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Bank Name: |
BANK OF BARODA (U) LTD |
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Branch: |
Kampala,
Uganda |
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Comments: |
None |
TRADE REFERENCES
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Experiences: |
Good |
None
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.40 |
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|
1 |
Rs.95.42 |
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Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
VNT |
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.