MIRA
INFORM REPORT
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Report Date : |
31.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
LIBOMBOS MACADAMIA LDA |
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Registered Office : |
P.O. Box 4542, Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
2004 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Owners and operators of a 155 hectare banana plantation and a 110
hectare macadamia nuts farm |
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 : |
NEW METICAL* 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
LIBOMBOS MACADAMIA LDA
ADDRESS
P.O. Box :
4542
Town : Maputo
Country : Mozambique
Telephone :
(258 21) 780 912
Fax : (258 21) 780 912
E-Mail : libmac.ag@teledata.mz
SENIOR COMPANY
PERSONNEL
Name Position
Antonio Gomes Managing
Director & Administrative Director
Total Employees
3 (administrative)
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for SMALL amounts, however in view of the lack
of financial information we recommend international suppliers exercise a degree
of caution.
Opinion on maximum credit
: NEW METICAL* 350,000 (due notice should be given to the above remarks)
Trade risk assessment :
Normal
Opinion on the credit
figure of US DLRS 50,000 / 30 days:
The above figure is
higher than normally seen in one amount, however could prove admissible in a
series of transactions provided the total indebtedness is strictly monitored.
It is normal accepted
practice for international suppliers to deal on secured terms with Mozambique
importers.
* On 1 July 2006 the Government
of Mozambique redenominated its currency the METICAL. One NEW METICAL now
equals 1,000 old Meticals.
PRINCIPAL BANKERS
NAME :
BANCO AUSTRAL ABSA LDA
Branch :
Avenida 25 de Setembro, 1184
PO Box :
757
Town :
Maputo
Telephone : (258 21) 321 011
Fax :
(258 21) 323 470
FINANCIAL INFORMATION
Balance sheets are not
available and the subject interviewed declined to give any financial
information, which the company regards as strictly confidential.
LEGAL STATUS AND
HISTORY
Date Started : 2004
Capital : not given
Companhia Limitada
(limited liability company) with the following shareholders :
1. Sociedade
Agro-Pecuaria dos Libombos (SAPEL)
Rua do Minho No.563
Matola
Matola
Tel : (258 21) 782 298
Fax : (258 21) 782 298
2. Antonio Gomes
3. Other undisclosed
shareholders
ACTIVITIES
The Company is involved
in the following activities :
Owners and operators of a
155 hectare banana plantation and a 110 hectare macadamia nuts farm (since
2007).
Subject currently exports
27 tonnes of bananas to South Africa daily.
FACILITIES
The Company has the
following facilities :
Office premises located
at the heading address and a farm 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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)