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Report No. : |
336277 |
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Report Date : |
11.08.2015 |
IDENTIFICATION DETAILS
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Name : |
NATIONAL CEMENT COMPANY LIMITED |
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Registered Office : |
Plot
No. 337/1651 Main Mombasa Road, Near Kenya Meat Commission, Athi River, Post
Box No. 33319-00600, Nairobi |
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Country : |
Kenya
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Date of Incorporation : |
17.03.2008 |
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Com. Reg. No.: |
118038 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate
manufacture and distribution of cement and cement related products |
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No. of Employees : |
250 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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: |
NATIONAL CEMENT
COMPANY LIMITED |
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Requested Name: |
NATIONAL CEMENT COMPANY LIMITED |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Plot
No. 337/1651 Main Mombasa Road, Near
Kenya Meat Commission, Athi River |
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Postal Address: |
Post
Box No. 33319-00600 |
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Nairobi |
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Country: |
Kenya |
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Phone: |
254-20-2053890/2529555/3/4/6/8/2511902/4/5 |
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Cell: |
254-734341557/756020000/630 |
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Fax: |
254-20-20289169/2529558 |
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Email: |
info@nccke.com/finance@nccke.com |
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Website: |
www.devkigroupke.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. We recommend
Credit of USD 250,000 on 90 days. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
17-March-2008 |
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Reg. Number: |
118038 |
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Nominal Capital |
KES.
456,894,700 Divided into Shares4,568,947 each KES. 100 |
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Subscribed Capital |
KES.
456,894,700 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Narendra Rameshchandra Raval |
MD |
602,600 |
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Mr. Kaushik Kumuchandra Pandit |
Director |
500 |
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Brook Finance Limited |
Holding
Co. |
2,672,000 |
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RELATED
COMPANIES
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Brook Finance Limited |
Parent company. |
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None |
Subsidiary company. |
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DEVKI STEEL MILLS LTD, MAISHA MABATI MILLS
LIMITED. |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Factory : Opp Lukenya Hills Off Mombasa Road Tel |
Branches of the firm |
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OPERATIONS
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Registered to operate manufacture
and distribution of cement and cement related products |
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Imports: |
Europe |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
Industries, distributors, firms and organizations |
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Employees: |
250 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Owned premises, 12 Acres |
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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 = 91.39
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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2013 |
2014 |
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Sales |
5,750,000,000 |
6,200,000,000 |
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BANK
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Bank Name: |
KENYA
COMMERCIAL BANK (KENYA) LIMITED |
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Branch: |
Nairobi,
Kenya |
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Comments: |
None |
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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. Subject Company is part
of Devki group of companies |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.76 |
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1 |
Rs.98.76 |
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Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
ASH |
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.