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Report No. : |
344585 |
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Report Date : |
12.10.2015 |
IDENTIFICATION DETAILS
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Name : |
AKSHAR AUTO SPARES
G & H LTD |
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Registered Office : |
George Morara Ave, P. o. Box 3373 – 20100, Nakuru |
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Country : |
Kenya |
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Date of Incorporation : |
10.06.2009 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers in automotive spare parts and related
supplies |
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No of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Kenya |
B1 |
B1 |
|
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 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 |
Registered Name: AKSHAR AUTO SPARES G & H LTD
Requested Name: AKSHAR
AUTO SPARES G & H LTD
Other Names: AKSHAR
AUTO SPARES GARAGE & HARDWARE
Physical Address: George Morara Ave, Nakuru
Postal Address: P. o. Box 3373 - 20100
Nakuru,
Country: Kenya
Phone: 254-51-2214082
Fax: 254-51-2212924
Email: None
Website: None
Financial Index as of December 2014 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 10-June-2009
Reg. Number: Kenya
Nominal Capital KES. 100,000
Subscribed Capital KES. 100,000
Subscribed Capital
is Subscribed in the following form:
Position
Mr. Vishal Patel Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in automotive spare parts and related
supplies
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Individuals,
firms and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Kenya
Location: Rented
premises, 2,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Kenyan Shillings (KES.)
Approx. Ex. Rate: 1 US Dollar = 91.10 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 150,000,000
Bank Name: GT BANK
Branch: Kenya
Comments: 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.64.78 |
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|
1 |
Rs.99.54 |
|
Euro |
1 |
Rs.73.08 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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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.