MIRA
INFORM REPORT
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Report Date : |
10th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
DUARTE
SANTOS LDA |
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Registered Office : |
Avenida de Angola 2416, P.O. Box 1819, Maputo, Mozambique |
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Country : |
Mozambique |
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Date of Incorporation : |
1959 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers, manufacturers and distributors of
furniture for offices, hospitals, as well as prefabricated metal structures
and building materials. |
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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Maximum Credit Limit : |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
CO. NAME
L DUARTE SANTOS LDA
ADDRESS
Street : Avenida de Angola 2416
P.O. Box : 1819
Town :
Maputo
Country :
Mozambique
Telephone :(258 21)
466270 / 465232
Fax :
(258 21) 465245
E-Mail :
julaia@lds.to.mz
SENIOR COMPANY PERSONNEL
Name Position
1. Amina kamal
Managing Director
2. Ali julaia
Administrative Manager
Total Employees : 133 (permanent)
30 (temporay)
PAYMENTS
No complaints have been heard regarding payments from local
suppliers or banks.
Subject is an old established company operating since 1959.
Subject incurred an undisclosed loss in 2003 financial year, which
was attributed to the lower exchange rate against the US DLR and the decrease
in sales due to the general recession. In 2004 subject made
a small (undisclosed) profit.
We consider it is acceptable to deal with subject for SMALL
amounts, although, it is normal accepted practice for international suppliers
to deal on secured terms with Mozambique importers.
Opinion on maximum credit : METICAL 500,000,000 (due attention
should be given to the above remarks)
Trade risk assessment : Normal (see above comments)
PRINCIPAL BANKERS
NAME : UNIAO COMERCIAL DE BANCOS
Branch : Av 25 de Setembro
Town :
Maputo
Telephone : (258 21)
428150
Fax : (258 21) 421912
Acc No :
42500131
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed
offered the following information :
Sales Turnover :
METICAL 21,474,000,000 - 2004 - exact
: METICAL 22,221,000,000 - 2005 - exact
: METICAL 22,500,000,000 - 2006 - exact
Loss :
not given - 2003
Net Profit : not
given - 2004
Profit / Loss : not
given - 2005
:
METICAL 1,000,000,000 - 2006 - exact
Finacial year ends 31 March.
LEGAL STATUS AND HISTORY
Date Started : 1959
Capital : METICAL 7,300,000,000
Companhia Limitada (Limited Liability Company) with the following
shareholders :
1. Amina Kamal
2. Ali Julaia
ACTIVITIES
The Company is involved in the following activities :
Trading as importers, manufacturers and distributors of furniture
for offices, hospitals, as well as prefabricated metal structures and building
materials.
Imports from South Africa, China and Portugal.
FACILITIES
The Company has the following facilities :
Administrative offices and manufacturing plant with integrated
storage facilities located at the heading address and a showroom elsewhere in
Maputo.
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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |