Maensu Business PLC

is a private limited company established in accordance with the Commercial Code of Ethiopia of 1960 and registered with the Ministry of Trade and Industry of the Federal Democratic Republic of Ethiopia on Ginbot 12, 2005 E.C. Initially, its authorized capital was birr 3,000,000.00 subdivided into 300 shares with a par value Birr 10,000.00 each. The capital has been increased to Birr 29,070,000.00 in 2010 E.C, subdivided into 2,907 shares with a par value of Birr 10,000.00 each. As it is stated in the memorandum of associations, the General Manager is elected and appointed by the shareholders in order to perform all managerial activities of the company. At the beginning of the year 2009/10 E.C, the company had 19 Permanent workers. In 2010 E.C, for the accomplishment and achievement of the laid-up goals, a new manufacturing plant has been bought and erected, and the number of workers increased accordingly. The company pays attention to providing favorable working conditions as well as to open work opportunities. The higher authority of the company is a group of the shareholders and along with this, there are the management groups that are represented by the shareholders to manage and control as well as to run the entire middle and low-level activities of the company. The company has been organized with a structural hierarchy from the board of directors to the low level. Departmental policies, standards, basic rules and regulations fundamentally have been set up for the achievement of future objectives of the company. Item No Name of Members No of Share Each Share Total Capital 1 Ato Abdu Muzein Ali 919 10,000.00 9,190.000.00 2 W/Ro Senya Muzein Ali 919 10,000.00 9,190.000.00 3 Ato Mohammed Muzein Ali 919 10,000.00 9,190.000.00 4 Ato Oumer Muzein Ali 50 10,000.00 500,000.00 5 Ato Nebil Muzein Ali 50 10,000.00 500,000.00 6 Ato Ismael Muzein Ali 50 10,000.00 500,000.00 The company has been incorporated to perform importing electrical items from abroad and supplying them to the local market as well as manufacturing local boards and assembling related products to the electro-mechanical assembling companies in the local market. The company is working on expansion in the manufacturing sector to upgrade its market share. To facilitate and accomplish these operational tasks, the company uses big warehouses for the purpose of manufacturing and bonded warehouses for the purpose of storage and for other related operation works. In the coming years, the company plans to manufacture SKD LED Bulbs, SKD Stabilizers, and SKD Extension Sockets. Based on its annual planning for the coming five years, the company gradually increase its manufacturing capacity by 20%. Having considered its past sales and marketing plans performance, as well as studying the market prospects, the company has set new plans to expand in the manufacturing sector. Hence, the company projects that its general product sales will continue in a similar…