MIRA
INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
AUTO
SPARES MAXAKA S.A. |
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Registered Office : |
Avenida
Milagre Mabote No 51, Maputo, Mozambique. |
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Country : |
Mozambique |
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Date of Incorporation : |
January
2007 |
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Legal Form : |
Joint
Stock Company |
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Line of Business : |
Trading
as importers and retailers of motor vehicle spares parts. |
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 : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
AUTO
SPARES MAXAKA S.A. (Correct)
AUTO
SPARES MAXAKA (Requested)
ADDRESS
Street : Avenida Milagre Mabote No 51
Town : Maputo
Country : Mozambique
Telephone :
(258 21) 418 314
Fax : (258 21) 418 440
SENIOR COMPANY PERSONNEL
Name Position
Obed
Mapose Managing Director
Total
Employees : 6
PAYMENTS
No
experience of payments is available.
Subject
was established in January 2007.
Opinion on maximum credit : As the company has recently started
trading and has no financial or
payment track record, we recommend dealing
on fully secured terms.
Trade
risk assessment : High
It is
normal accepted practice for international suppliers to deal on secured terms
with Mozambique importers.
PRINCIPAL BANKERS
NAME :
BCI FOMENTO (FORMERLY BANCO DO FOMENTO
E EXTERIOR SA)
Street :
Avenida Vladimir Lenine 280/272
PO
Box :
4233
Town :
Maputo
Telephone : (258 21) 423 915 / 423 916
Account
No. : 104808511001
The
company also has an account with Banco Comercial de Investimento (BCI)
FINANCIAL INFORMATION
As the
Company has only recently started trading, relevant financial information is
not available.
LEGAL STATUS AND HISTORY
Date
Started : January 2007
Capital : RAND 200,000
Sociedade
Anonima (joint stock company) with the following sole shareholder :
Obed
Mapose 100%
South
African National
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers and retailers of motor vehicle spares parts.
Imports
from South Africa.
Main
overseas supplier is :
QSV
(Pty) Ltd
Johannesburg
South
Africa
FACILITIES
The
Company has the following facilities :
Office
premises, retail outlet and storage facilities located at the heading address.
GENERAL INFORMATION
* On 1
July 2006 the Government of Mozambique redenominated its currency the METICAL.
One NEW METICAL now equals 1,000 old Meticals.
SPECIAL NOTE
You
enquired on : AUTO SPARES MAXAKA.
Please note the correct name is as per
heading.
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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