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Report No. : |
323657.2 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
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Name : |
BTY TRADING PLC |
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Registered Office : |
Kebele 6 Woreda10 Bole Sub City Addis Ababa, |
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Country : |
Ethiopia |
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Date of Incorporation : |
10.06.2012 |
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Legal Form : |
Private Limited Corporation |
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Line of Business : |
Exporters of pulses, oilseeds, spices and other related products and import and distribution of hardware, furniture |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Ethiopia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
ETHIOPIA - ECONOMIC OVERVIEW
Ethiopia's economy is based on agriculture but the
government is pushing to diversify into manufacturing, textiles, and energy generation.
Coffee is a major export crop. The agricultural sector suffers from poor
cultivation practices and frequent drought, but recent joint efforts by the
Government of Ethiopia and donors have strengthened Ethiopia's agricultural
resilience, contributing to a reduction in the number of Ethiopians threatened
with starvation. The banking, insurance, telecommunications, and micro-credit
industries are restricted to domestic investors, but Ethiopia has attracted
significant foreign investment in textiles, leather, commercial agriculture and
manufacturing. Under Ethiopia's constitution, the state owns all land and
provides long-term leases to the tenants; land use certificates are now being
issued in some areas so that tenants have more recognizable rights to continued
occupancy and hence make more concerted efforts to improve their leaseholds.
While GDP growth has remained high, per capita income is among the lowest in
the world. Ethiopia's economy continues on its state-led Growth and
Transformation Plan and is scheduled to issue another development plan in 2015.
Ethiopia has achieved high single-digit growth rates through government-led
infrastructure expansion and commercial agriculture development. Ethiopia in
late 2014 issued its first sovereign bond, generating $1 billion in revenue for
a 10 year note.
Source
: CIA
|
Registered
Name: |
BTY
TRADING PLC |
|
Requested
Name: |
BTY TRADING PLC |
|
Other Names: |
None |
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Physical
Address: |
Kebele 6 Woreda10 Bole Sub City |
|
|
Addis Ababa, |
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Country: |
Ethiopia |
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Phone: |
251-911257609 |
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Fax: |
251-111111825 |
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Email: |
None |
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Website: |
None |
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Financial Index
as of December 2014 shows subject firm with a medium risk of credit. We
recommend Secured Credit. |
|
Legal Form: |
Private
Limited Corporation |
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Date
Incorporated: |
10-June-2012 |
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Reg. Number: |
Ethiopia |
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Nominal
Capital |
ETB. 100,000 |
|
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Subscribed
Capital |
ETB. 100,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Hailu G. |
Director |
|
|
None |
Parent
company. |
|
None |
Subsidiary
company. |
|
None |
Affiliated
company. |
|
None |
Shareholder
of subject firm. |
|
None |
Branches of
the firm |
|
Registered to
operate as exporters of pulses, oilseeds, spices and other related products
and import and distribution of hardware, furniture |
|
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Imports: |
Asia |
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Exports: |
Europe |
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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: |
Local agencies,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: |
Ethiopia |
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Location: |
Rented premises, 2,500 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: |
Ethiopian
Birr (ETB.) |
|
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Approx. Ex.
Rate: |
1 US Dollar =
20.85 Ethiopian Birr |
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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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||
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Financial
Information not Submitted |
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Profit and
Loss (expressed in ETB.) |
||
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2014 |
|
Sales |
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8,000,000 |
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Bank Name: |
Bank of Abyssinia |
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Branch: |
Ethiopia |
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Comments: |
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.65.22 |
|
UK Pound |
1 |
Rs.102.23 |
|
Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
TRU |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.