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Report No. : |
352306 |
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Report Date : |
04.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TATA AFRICA HOLDINGS (TANZANIA) LTD |
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Registered Office : |
Plot No.1 & 2
Vingunguti Area, Nyerere Road, P.O. Box
40207, Dar Es Salaam 123 |
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Country : |
Tanzania |
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Date of Incorporation : |
04.07.1995 |
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Com. Reg. No.: |
27362 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
Dealers in engineering products, chemicals, construction glass products,
automotives and related facilities, also direct importers and exporters of engineering
goods, chemicals, bearings, construction glass and materials. It`s products
includes; vehicles, bicycles and spares, Float glass and mirrors and building
materials. It also deals in chemicals, pharmaceuticals and surgical products. |
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No. of Employees : |
125 |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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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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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, but has achieved high growth rates based on its vast natural
resource wealth and tourism. GDP growth in 2009-14 was an impressive 6-7% per
year. Tanzania has largely completed its transition to a 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 infrastructure, including rail
and port, that provide 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. In 2013, Tanzania completed the world's largest Millennium Challenge
Compact grant, worth $698 million, and, in December 2014, the Millennium
Challenge Corporation selected Tanzania for a second Compact. Dar es Salaam
used fiscal stimulus measures and easier monetary policies to lessen the impact
of the global recession. In late 2014, a highly publicized scandal in the
energy sector involving senior Tanzanian officials resulted in international
donors freezing nearly $500 million in direct budget support to the government.
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Source
: CIA |
Company
Name
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Registered Name: |
TATA AFRICA
HOLDINGS (TANZANIA) LTD |
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Requested Name: |
TATA AFRICA HOLDINGS (TANZANIA) LTD |
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Other Names: |
TATA AFRICA
HOLDINGS (T) LTD |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Plot No.1 & 2
Vingunguti Area, Nyerere Road |
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Postal Address: |
P.O.
Box 40207 |
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Dar
Es Salaam 123, |
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Country: |
Tanzania |
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Phone: |
255-22-2865176/2865177/2258 |
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Fax: |
255-22-2865176/7 |
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Email: |
tata@tata.co.tz/ajay.mehra@tatainternational.com |
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Website: |
www.tataafrica.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. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
04/07/1995 |
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Reg. Number: |
27362 |
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Nominal Capital |
TZS. 2,000,000,000 |
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Subscribed Capital |
TZS. 1,482,242,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Ratan Naval Tata |
Group Chairman |
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Mr. Raman Dhawan |
CEO |
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Mr. R.K. Krishna Kumar |
Director |
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Mr. R. Gopalakrishnan |
Director |
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Mr. Ishaat Hussain |
Director |
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Mr. Arunkumar Gandhi |
Director |
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Mr. Anand Bisht |
Director |
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Mr. Sudhir Yadav |
Manager |
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Tata Africa Holdings (SA) (Pty) Ltd |
Holding Co. |
100% |
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RELATED
COMPANIES
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Tata Africa Holdings (SA) (Pty) Ltd |
Parent company. |
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None |
Subsidiary company. |
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Listed Below |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Julius K. Nyerere Rd, Dar es Salaam, Tanzania |
Branches of the firm |
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OPERATIONS
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Registered to operate as
Dealers in engineering products, chemicals, construction glass products,
automotives and related facilities, also direct importers and exporters of engineering
goods, chemicals, bearings, construction glass and materials. It`s products
includes; vehicles, bicycles and spares, Float glass and mirrors and building
materials. It also deals in chemicals, pharmaceuticals and surgical products |
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Imports: |
Asia, South Africa |
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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: |
firms and organizations |
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Employees: |
125 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tanzania |
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Location: |
Owned premises, 10 Acres |
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AUDITORS
AND INSURANCE
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Auditors: |
Deloitte & Touche |
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Insurance Brokers: |
Information not available |
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FINANCE
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Currency Reported: |
Tanzanian Shillings (TZS.) |
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Approx. Ex. Rate: |
1 US Dollar = 2172.21
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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2013 |
2014 |
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Sales |
49,324,000,000 |
55,000,000,000 |
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BANK
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Bank Name: |
STANDARD
CHARTERED BANK |
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Branch: |
Dar
Es Salaam, Tanzania |
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Comments: |
Other Banks |
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BANK OF BARODA |
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NATIONAL BANK OF COMMERCE |
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I & M BANK (TANZANIA) |
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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. |
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Affiliated
Companies
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BLACKWOOD HODGE (ZIMBABWE) (PVT) LTD |
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COMETAL SARL |
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CONSILIENCE TECHNOLOGIES |
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JAGUAR LAND ROVER (SOUTH AFRICA) |
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MPUMALANGA MINING RESOURCES SOCIETE ANONYME (MMRSA) |
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NEOTEL |
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TAJ CAPE TOWN |
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TAJ PAMODZI HOTEL |
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TATA AFRICA (SENEGAL) SARL |
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TATA AFRICA HOLDINGS (GHANA) LIMITED |
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TATA AFRICA HOLDINGS (KENYA) LIMITED |
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TATA AFRICA HOLDINGS (TANZANIA) LIMITED |
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TATA AFRICA SERVICES (NIGERIA) LIMITED |
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TATA AFRICA STEEL PROCESSORS |
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TATA AUTOMOBILE CORPORATION SA (PTY) LIMITED |
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TATA HOLDINGS MOCAMBIQUE LIMITADA |
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TATA NAMIBIA (PTY) LIMITED |
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TATA TANNERY (A DIVISION OF TATA ZAMBIA LIMITED) |
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TATA UGANDA LIMITED |
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TATA ZAMBIA LIMTED |
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TATA AFRICA STEEL PROCESSORS (PTY) LIMITED |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.75 |
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1 |
Rs.99.61 |
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Euro |
1 |
Rs.70.67 |
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TZS |
1 |
Rs.0.032 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
TPT |
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.