MIRA
INFORM REPORT
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Report Date : |
13.06.2007 |
IDENTIFICATION DETAILS
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Name : |
RECHEIO CASH & CARRY LDA |
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Registered Office : |
Rua Gago Coutinho 594,
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Country : |
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Date of Incorporation : |
October 2002 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and retailers of grocery, cleaning
products and toiletry. |
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 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
RECHEIO CASH & CARRY
LDA
ADDRESS
Street : Rua Gago Coutinho 594
Town :
Country :
Telephone :
(258 21) 477 575 / 477 657 / 477 149
Fax : (258 21) 477575
SENIOR COMPANY
PERSONNEL
Name Position
1. Ibraim M. Mussad
Sidad Chairman
2. Mohamed Ibraim
Sidad Managing Director
3. Sief Nagargar Financial Director
4. Abobacar Casi Commercial
Director
Total Employees
85
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a family owned
business operation operating since 2002.
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 600,000 (due notice should be given to the above comments)
Trade risk assessment :
Opinion on the credit
figure of
We consider the above
figure to be within the company's financial capabilities.
It is normal accepted practice for international
suppliers to deal on secured terms with
PRINCIPAL BANKERS
NAME :
BANCO COMERCIAL DE INVESTIMENTO (BCI)
Branch :
Main Branch
Town :
Telephone : (258 21) 307263
Subject also has an
account with Banco Millenium BIM, account no : 101986965.
FINANCIAL INFORMATION
Private companies in
LEGAL STATUS AND
HISTORY
Date Started : October
2002
History : The company was
incorporated in
Capital : not given
Companhia Limitada
(limited liability company) with the following shareholders :
1. Mohamed Ibraim
Sidad 50%
2. Ibraim Mohamed Mussad Sidad 50%
ACTIVITIES
The Company is involved
in the following activities :
Trading as importers and
retailers of grocery, cleaning products and toiletry.
Imports from Europe
(mainly
FACILITIES
The Company has the
following facilities :
Administrative office,
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.
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%)