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Report No. : |
304622 |
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Report Date : |
31.01.2015 |
IDENTIFICATION DETAILS
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Name : |
CROWN INDUSTRIES LIMITED |
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Registered Office : |
Hema House, Enterprise Road Nairobi, P. O. Box 40119-00100, Nairobi |
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Country : |
Kenya |
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Date of Incorporation : |
12.06.1987 |
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Com. Reg. No.: |
C34739 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers of Domestic
Plastic Goods such as Kitchen Containers, Basins, Flasks. |
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No. of Employees : |
450 Employees. |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
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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Registered Name: |
CROWN
INDUSTRIES LIMITED |
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Requested Name: |
CROWN INDUSTRIES LIMITED |
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Other Names: |
None |
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Physical Address: |
Hema
House, Enterprise Road Nairobi, |
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Postal Address: |
P.
o. Box 40119-00100 |
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Nairobi, |
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Country: |
Kenya |
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Phone: |
254-20-650720/1/516/2108425/6536876/78 |
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Cell: |
254-722423600/733616992/736650000/721796902 |
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Fax: |
254-20-2219497/650516/2611203 |
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Email: |
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Website: |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
12-June-1987 |
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Reg. Number: |
C34739 |
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Nominal Capital |
KES 10,000,000 |
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Subscribed Capital |
KES 10,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Hitenkumar Amritlal Raja |
CEO |
80% |
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Mr. Chetan B Sanghrajka |
Director |
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Mr. Rajkumar Hiten Raja |
Shareholder |
10% |
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Mrs. Purvi Hiten Raja |
Shareholder |
10% |
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None |
Parent company. |
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None |
Subsidiary company. |
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ADIX PLASTICS LIMITED |
Affiliated company. |
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Mr. Hitenkumar Amritlal Raja Mr. Rajkumar Hiten Raja Mrs. Purvi Hiten Raja |
Shareholders of subject
firm. |
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Upper Hill and Enterprise Road Nairobi, Kenya |
Branches of the firm |
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Registered to operate manufacturers
of domestic plastic goods such as kitchen containers, basins, flasks. |
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Imports: |
Asia, Middle East |
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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: |
Local agencies, chain stores and outlets |
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Employees: |
450 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 = 92.12
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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2,125,000,000 |
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Profit |
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225,000,000 |
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Bank Name: |
BARCLAYS
BANK (K) LTD |
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Branch: |
Kenya |
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Comments: |
Other Banks |
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VICTORIA COMMERCIAL BANK
LTD |
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Experiences: |
Good |
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.61.76 |
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|
1 |
Rs.93.13 |
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Euro |
1 |
Rs.70.03 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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.