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Report No. : |
309828 |
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Report Date : |
13.03.2015 |
IDENTIFICATION DETAILS
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Name : |
HYGEBAT LTD |
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Registered Office : |
Near 7 Day Adventist Church,
KG 22 St, Kacyiru, BP 1969 Kacyiru, Kigali |
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Country : |
Rwanda |
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Date of Incorporation : |
10.06.1995 |
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Com. Reg. No.: |
100060263 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject business activities are as under: Building
/Construction · The creation and development of housing estates and industrial areas; · Construction work such as maintenance, development, rehabilitation, repair, · Renovation and Equipment of buildings and other structures; · Execution of concrete structures · Implementation and maintenance of public works; · The provision of all building materials; · The realization of housing programs, infrastructure projects, real estate projects; · Acquisition of buildings and grounds; Civil
Engineering · The building of civil engineering Any · The repair and / or building of complex, extensive works; · The Maintenance and development of public parks or private; · Road building and Maintenance · The study, implementation of Highways and various networks (HHT) · The establishment of all architectural projects, the exercise of the mastery of work, both, in relation to internal or external; Water Supply · building of dams, retention basins · Construction of pumping · Hydraulics, Sanitation and Environment; · The hydraulics in general and the Rural Water Supply; · Installation and sell all kinds of hydraulic equipment, hydraulic parts supply, construction, maintenance, repair of hydraulic pumps; · Water supply, drilling, development wells and water pumps |
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No of Employees : |
45 |
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Rwanda |
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 |
Rwanda ECONOMIC OVERVIEW
Rwanda is a poor rural
country with about 90% of the population engaged in (mainly subsistence) agriculture
and some mineral and agro-processing. Tourism, minerals, coffee and tea are
Rwanda's main sources of foreign exchange. The 1994 genocide decimated Rwanda's
fragile economic base, severely impoverished the population, particularly
women, and temporarily stalled the country's ability to attract private and
external investment. However, Rwanda has made substantial progress in
stabilizing and rehabilitating its economy to pre-1994 levels. GDP has
rebounded with an average annual growth of 7%-8% since 2003 and inflation has
been reduced to single digits. Nonetheless, a significant percent of the
population still live below the official poverty line. Despite Rwanda's fertile
ecosystem, food production often does not keep pace with demand, requiring food
imports. Rwanda continues to receive substantial aid money and obtained
IMF-World Bank Heavily Indebted Poor Country (HIPC) initiative debt relief in
2005-06. In recognition of Rwanda's successful management of its macro economy,
in 2010, the IMF graduated Rwanda to a Policy Support Instrument (PSI). Rwanda
also received a Millennium Challenge Threshold Program in 2008. Africa's most
densely populated country is trying to overcome the limitations of its small,
landlocked economy by leveraging regional trade. Rwanda joined the East African
Community and is aligning its budget, trade, and immigration policies with its
regional partners. The government has embraced an expansionary fiscal policy to
reduce poverty by improving education, infrastructure, and foreign and domestic
investment and pursuing market-oriented reforms. Energy shortages, instability
in neighboring states, and lack of adequate transportation linkages to other
countries continue to handicap private sector growth. The Rwandan Government is
seeking to become regional leader in information and communication
technologies. In 2010, Rwanda neared completion of the first modern Special
Economic Zone (SEZ) in Kigali. The SEZ seeks to attract investment in all
sectors, but specifically in agribusiness, information and communications
technologies, trade and logistics, mining, and construction. The global
downturn hurt export demand and tourism, but economic growth has recovered,
driven in large part by the services sector, but inflation has grown. On the
back of this growth, government is gradually ending its fiscal stimulus policy
while protecting aid to the poor.
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Source
: CIA |
Registered Name: HYGEBAT LTD
Requested Name: HYGEBAT
LTD
Other Names: None
Physical Address: Near 7 Day Adventist Church, KG
22 St, Kacyiru, Kigali,
Postal Address: BP 1969 Kacyiru
Kigali
Country: Rwanda
Phone: 250-255121856
Fax: 250-255121856
Email: info@hygebat.net
Website: www.hygebat.net
Financial Index as of December 2014 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 10-June-1995
Reg. Number: 100060263
Nominal Capital RWF. 1,000,000
Subscribed Capital RWF. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position
Mr. Mugabo Theobald MD
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Subject business activities are as under:
Building
/Construction
· The creation and development of housing estates and industrial areas;
· Construction work such as maintenance, development, rehabilitation, repair,
· Renovation and Equipment of buildings and other structures;
· Execution of concrete structures
· Implementation and maintenance of public works;
· The provision of all building materials;
· The realization of housing programs, infrastructure projects, real estate projects;
· Acquisition of buildings and grounds;
Civil Engineering
· The building of civil engineering Any
· The repair and / or building of complex, extensive works;
· The Maintenance and development of public parks or private;
· Road building and Maintenance
· The study, implementation of Highways and various networks (HHT)
· The establishment of all architectural projects, the exercise of the mastery of work, both, in relation to internal or external;
Water Supply
· building of dams, retention basins
· Construction of pumping
· Hydraulics, Sanitation and Environment;
· The hydraulics in general and the Rural Water Supply;
· Installation and sell all kinds of hydraulic equipment, hydraulic parts supply, construction, maintenance, repair of hydraulic pumps;
·
Water supply, drilling, development wells and
water pumps
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 45
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Rwanda
Location: Leased
premises, 50,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Rwandan Franc (RWF.)
Approx. Ex. Rate: 1 US Dollar = 688.99 Rwandan Franc
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 RWF.)
2014
Sales 320,000,000
Bank Name: Bank of Kigali (BK)
Branch: Rwanda
Comments: None
Experiences: Good
None
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.62.57 |
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UK Pound |
1 |
Rs.93.57 |
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Euro |
1 |
Rs.65.95 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
MNL |
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.