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Report No. : |
303193 |
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Report Date : |
19.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CORUM AGENCIES LTD |
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Registered Office : |
Centre Point Bldg next to Engen Petrol Stn, 3rd Flr, Parklands Rd P. o. Box 2503 00606 Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
12.05.1997 |
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Com. Reg. No.: |
71758 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate
as dealers in gifts, greeting cards and gift wrappers |
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No. of Employees : |
10 |
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 : |
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) |
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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 |
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SUBJECT'S NAME |
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Registered Name: |
CORUM AGENCIES LTD |
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Requested Name: |
CORUM AGENCIES LTD |
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Other Names: |
None |
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Physical Address: |
Centre Point Bldg next to Engen Petrol Stn, 3rd Flr, Parklands Rd |
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Postal Address: |
P. o. Box 2503 00606 |
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Nairobi |
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Country: |
Kenya |
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Phone: |
254-20-3583408/2370095 |
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Cell: |
254-723692860 |
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Fax: |
254-20-3749323 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
12-May-1997 |
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Reg. Number: |
71758 |
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Nominal Capital |
KES. 1,000,000 |
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Subscribed Capital |
KES. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Ashupa Ashit Shah |
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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___________________________________________________________________________ |
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Registered to operate as dealers in gifts, greeting cards and gift wrappers |
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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: |
General public |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Kenya |
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Location: |
Leased premises, 10,000 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: |
Kenyan Shillings (KES.) |
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Approx. Ex. Rate: |
1 US Dollar = 91.47 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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2014 |
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Sales |
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120,000,000 |
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Bank Name: |
VICTORIA COMMERCIAL BANK |
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Branch: |
Kenya |
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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. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.89 |
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1 |
Rs.93.92 |
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Euro |
1 |
Rs.72.01 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIS |
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.