MIRA INFORM REPORT

 

 

Report No. :

304765

Report Date :

02.02.2015

 

IDENTIFICATION DETAILS

 

Name :

CHEMOQUIP LIMITED

 

 

Registered Office :

Ngara Road (Opposite Total Petrol Station), P. o. Box 32565, Nairobi

 

 

Country :

Kenya

 

 

Date of Incorporation :

16.12.1992

 

 

Com. Reg. No.:

51914

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Engaged in supplying Laboratory Equipment

 

Subject product ranges includes:-

·         Autoclaves

·         Chemistry & Elisa Readers

·         Laboratory incubators & Oven

·         Electrolyte

·         Vacutainers (Blood collection tubes)

·         Pipetting system (Masters of Precisions)

·         Clinical chemistry kits

·         DIESSE Diagnostica

·         DIGISYSTEMS (Lab equipment)

·         Fast and Precise determination of HB/HBA1C

·         Diagnostic kits

·         Biosafety cabinets

·         Water analysis

·         Blood GlucoRX

·         Centrifuges

·         Bacteriological cultural media

·         Waterbaths

·         Filteration System

·         Haematology

·         Microscopes

·         Balances

·         Elisa kits

·         Water distiller

·         Glassware

·         Rankem Chemicals

·         Biochrom (Spectrophotometer & Calorimeter)

·         Urine strips

·         MATRIX GEL SYSTEM

·         Other Diagnostics

 

 

No of Employees :

65

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

Payment Behaviour :

No Complaints 

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)

Kenya

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Kenya ECONOMIC OVERVIEW

 

Kenya 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.

 

Source : CIA

 

 

 

SUBJECT'S NAME   

 

Registered Name:                                   CHEMOQUIP LIMITED

Requested Name:                                   CHEMOQUIP LIMITED

Other Names:                                         None  

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                   Ngara Road (Opposite Total Petrol Station)

Postal Address:                                      P. o. Box 32565

                                                              Nairobi,

Country:                                                 Kenya

Phone:                                                   254-20-3743150/3749383/7/3746511/3747351

Cell:                                                       254-733641982/704610745/739254348

Fax:                                                       254-20-3750274/3746661

Email:                                                     cql@chemoquip.com

Website:                                                 www.chemoquip.com

 

CREDIT OPINION

 

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.

 

 

LEGAL

 

Legal Form:                                                     Limited Corporation 

Date Incorporated:                                           16-Dec-1992

Reg. Number:                                                  51914

Nominal Capital                                                KES. 10,000,000

Subscribed Capital                                           KES. 10,000,000

 

Subscribed Capital is Subscribed in the following form:

                                                                       Position                          Shares

Ms. Azmina Andris                                           MD                                 

Mrs. Feroz nilam Rajnikant Dhanani                   CEO                               

Mr. Perviz Rajnikant Dhanani                             Director                          

 

 

RELATED COMPANIES  

 

None                                                               Parent company.

None                                                               Subsidiary company.

CHEMOQUIP TZ LIMITED,

UNIVERSAL PHARMACY KENYA LIMITED,

NAIROBI ENTERPRISES LIMITED,

CHEMOQUIP (Z) LIMITED.                                Affiliated companies.

None                                                               Shareholder of subject firm.

None                                                               Branches of the firm

 

 

OPERATIONS

 

Engaged in supplying Laboratory Equipment

 

Subject product ranges includes:-

·         Autoclaves

·         Chemistry & Elisa Readers

·         Laboratory incubators & Oven

·         Electrolyte

·         Vacutainers (Blood collection tubes)

·         Pipetting system (Masters of Precisions)

·         Clinical chemistry kits

·         DIESSE Diagnostica

·         DIGISYSTEMS (Lab equipment)

·         Fast and Precise determination of HB/HBA1C

·         Diagnostic kits

·         Biosafety cabinets

·         Water analysis

·         Blood GlucoRX

·         Centrifuges

·         Bacteriological cultural media

·         Waterbaths

·         Filteration System

·         Haematology

·         Microscopes

·         Balances

·         Elisa kits

·         Water distiller

·         Glassware

·         Rankem Chemicals

·         Biochrom (Spectrophotometer & Calorimeter)

·         Urine strips

·         MATRIX GEL SYSTEM

·         Other Diagnostics

 

Imports:                                                           Asia

Exports:                                                          Tanzania, Uganda, Malawi, Somalia and Rwanda

Trademarks:                                                     None

Terms of sale:                                                  Cash (40%) and 25-90 days (60%), invoices.

                                                                      

Main Customers:                                              private labs, government labs, reach centers, pharmaceuticals,

                                                                       food, dairy industries

Employees:                                                     65 employees.

Vehicles:                                                         Several motor vehicles.

Territory of sales:                                             Kenya

Location:                                                         Leased premises, 20,000 square feet,

 

 

AUDITORS AND INSURANCE   

 

Auditors:                                                         Information not available.

Insurance Brokers:                                            Information not available.

                                                                      

 

FINANCE 

 

Currency Reported:                                          Kenyan Shillings (KES.)

Approx. Ex. Rate:                                            1 US Dollar = 91.70 Kenyan Shillings

Fiscal Year End:                                              December 31, 2014

Inflation:                                                          According to information given by independent sources, the

                                                                       inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted              

                                                                      

Profit and Loss (expressed in KES.)

                                                                            2014

Sales                                                                   3,450,000,000

 

BANK 

 

Bank Name:                                                     HABIB BANK AG. ZURICH

Branch:                                                            Kenya

Comments:                                                      Other Banks

                                                                       STANDARD CHARTERED BANK

                                                                      

 

TRADE REFERENCES    

 

Experiences:                                                    Good

                                                                      

 

NOTARIAL BONDS   

 

None

 

 

COMMENTS / ADDITIONAL INFORMATION    

 

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.61.76

UK Pound

1

Rs.93.13

Euro

1

Rs.70.03

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

MNL

 

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

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

 

--

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.