MIRA
INFORM REPORT
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Report Date : |
09.08.2007 |
IDENTIFICATION DETAILS
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Name : |
TENKE FUNGURUME MINING
SARL |
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Registered Office : |
790 Rue Panda, Quarter Golf, |
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Country : |
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Date of Incorporation : |
10/11/1996 |
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Com. Reg. No.: |
7325 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Mining of copper
and cobalt |
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 : |
Yet to Commence Operations |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
TENKE FUNGURUME MINING SARL
Principal Address
790 Rue Panda, Quarter Golf,
Telephone: +243-23-48412
Fax: +243-23-48416
Email: tenke@namdo.com
Internet: None
Established
10/11/1996
Registration
No. 7325
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
1,100
Office &
Factories
Head offices 790 Rue
Panda, Quarter Golf,
Branches None
Company Profile
Paid in Capital CDF. 1,000,000
Subscribed Capital CDF. 1,000,000
Shareholders
Name Position
Amount Ratio
Mr. Claude Polet MD
Director
Tenke Mining Corporation Holding Co. 55.00%
Gecamines Shareholder 45.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 50,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Claude Polet |
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Work Experience |
10 years in this line of business |
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Remarks |
Top Decision Maker |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Mining of copper
and cobalt
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
CAT, Komatsu ect
Customers
Distribution and industries
Recent Sales
USD. 250,000,000 (Estimated 2008)
Exports
EU and
Export Ratio 60.0%
Import Ratio 10.0%
Domestic Market Share NA
Banking relationship
Main Banks Stanbic Bank
Credit Check of
Subject, President & CEO
Payment Morale: In the documents at our disposal nothing
adverse has been shown so far.
CREDIT RATING: Financial situation is
average.
COMMENTS
According to its respondents the company has not begin its commercial extraction, however the extraction of minerals currently being test run., Simple sample acquired the More Corps making it the largest finance institution in the region, in turn More Corps hold several banking and financing Institutions and other companies, hence has become a highly competitive company. Maximum credit we recommend is USD 50,000 outstanding at any one time.
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%)