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Report No. : |
326071 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
SHRENUJ BOTSWANA (PTY) LTD. |
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Registered Office : |
Plot No 20653 Block 3 Industrial, Gaborone, Private Bag 351/238 Kgaleview, Gaborone |
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Country : |
Botswana |
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Date of Incorporation : |
07.05.2010 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as a
manufacturer of jewellery |
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No. of Employees : |
1510 |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Botswana |
A2 |
A2 |
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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 |
BOTSWANA - ECONOMIC OVERVIEW
Botswana’s diamond dependent economy has maintained one of
the world's highest economic growth rates since independence in 1966. However, economic
growth was negative in 2009, with the industrial sector shrinking by 30%, after
the global crisis reduced demand for Botswana's diamonds. Although the economy
recovered in 2010-12, GDP growth slowed in 2012-14. Through fiscal discipline
and sound management, Botswana transformed itself from one of the poorest
countries in the world to a middle-income country with a per capita GDP of
$16,600 in 2014. Two major investment services rank Botswana as the best credit
risk in Africa. Diamond mining has fueled much of the expansion and currently
accounts for more than one-third of GDP, 70-80% of export earnings, and about
one-third of the government's revenues. Botswana's heavy reliance on a single
luxury export was a critical factor in the sharp economic contraction of 2009.
Tourism, financial services, subsistence farming, and cattle raising are other
key sectors. According to official government statistics, unemployment reached
17.8% in 2009, but unofficial estimates run much higher. The prevalence of HIV/AIDS
is second highest in the world and threatens Botswana's impressive economic
gains. An expected leveling off in diamond production within the next 10-15
years overshadows long-term prospects. A major international diamond company
signed a 10-year deal with Botswana in 2012 to move its rough stone sorting and
trading division from London to Gaborone by the end of 2013. The move has
supported the development of Botswana's nascent downstream diamond industry.
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Source
: CIA |
Company
Name
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Registered Name: |
SHRENUJ BOTSWANA
(PTY) LTD. |
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Requested Name: |
SHRENUJ BOTSWANA (PTY) LTD. |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Plot
No 20653 Block 3 Industrial, Gaborone |
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Postal Address: |
Private
Bag 351/238 Kgaleview |
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Gaborone, |
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Country: |
Botswana |
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Phone: |
267-3953610/6 |
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Fax: |
267-3953613 |
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Email: |
sales@shrenuj.co.bw/changu@shrenuj.co.bw/refiloe@shrenuj.co.bw/tsaone@shrenuj.co.bw/lilian@shrenuj.co.bw |
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Website: |
www.shrenuj.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: |
07-May-2010 |
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Reg. Number: |
Botswana |
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Nominal Capital |
BWP.
1,000,000 |
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Subscribed Capital |
BWP.
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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Shri. Shreyas K. Doshi |
Group
Chairman |
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H.E. Festus G. Mogae |
Director |
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Shri. Vishal S Doshi |
Director |
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Shri. Nihar Parikh |
Director |
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Shri. Badrinarayan R. Barwale |
Director |
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Shri. S. S. Thakur |
Director |
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Shri. Minoo Shroff |
Director |
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Dr. S A Dave |
Director |
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Mr. Vishal Doshi |
Director |
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Mr. Kim Lanny |
GM |
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Mr. Binoy Joseph |
Finance
Manager |
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Ms. Siamisang Kepaletswe |
Manager |
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Mr. Baleseng Mudongo |
Manager |
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Mr. Mosimanegape Lesegong |
Manager |
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Mrs. Masego Radinamane |
Manager |
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Mr. Anuj Shah |
Manager |
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Ms. Masego Manyothwane |
Manager |
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Shrenuj Group |
Holding
Co. |
100% |
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RELATED
COMPANIES
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Shrenuj Group |
Parent company. |
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None |
Subsidiary company. |
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Listed Below |
Affiliated companies. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
a manufacturer of jewellery |
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Imports: |
Asia,Middle East |
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Exports: |
Worldwide |
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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: |
firms and organizations |
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Employees: |
1510 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Botswana |
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Location: |
Owned premises, 100,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Botswana Pula (BWP.) |
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Approx. Ex. Rate: |
1 US Dollar = 10.08
Botswana Pula |
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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 BWP.) |
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2014 |
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Sales |
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250,000,000 |
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BANK
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Bank Name: |
First
National Bank of Botswana |
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Branch: |
Botswana |
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Comments: |
None |
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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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|
SIMON GOLUB AND SONS, INC |
|
KIARA JEWELLERY PVT LTD; JOMARD SAS (JV) |
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SHRENUJ JEWELLERY (FAR EAST) LTD |
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SHRENUJ GMBH; LUME AG |
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SHRENUJ JAPAN CORPORATION |
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SHRENUJ NV |
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SHRENUJ SOUTH AFRICA PTY. LTD. |
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ITHEMBA DIAMONDS PTY. LTD |
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UXOLO DIAMOND CUTTING WORKS PTY LTD |
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SHRENUJ OVERSEAS LTD |
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SHRENUJ LIFESTYLE LTD |
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SHRENUJ FAR EAST LTD |
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SHRENUJ SHANGHAI DIAMONDS PVT LTD |
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DAILY JEWELLERY LIMITED |
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COPEM & SHRENUJ (JV) |
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INTERNATIONAL TRADING COMPANY SRL |
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ASTRAL JEWELS LLC; SHRENUJ USA |
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BERNIES INTERNATIONAL LLC (JV) |
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SHRENUJ DMCC |
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GLOBAL MARINE DIAMOND COMPANY |
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ASTRAL HOLDINGS, INC |
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ASTRAL USA LLC |
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SHRENUJ MAURITIUS PVT. LTD. |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.11 |
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1 |
Rs.97.84 |
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Euro |
1 |
Rs.71.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
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.