MIRA
INFORM REPORT
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Report Date : |
20.06.2007 |
IDENTIFICATION DETAILS
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Name : |
PUMP SPARES AND VALVES LIMITED |
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Registered Office : |
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Country : |
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Date of Incorporation : |
March 2001 |
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Com. Reg. No.: |
49563 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of pumps and valves for the mining
industry. |
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 : |
KWACHA 200,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
PUMP SPARES AND VALVES
LIMITED
ADDRESS
Street :
Area :
P.O. Box :
22948
Town :
Country :
Telephone :
(260 2) 224 137
Fax : (260 2) 224 136
E-Mail : psv@zamnet.zm
Trading Styles
PSV
SENIOR COMPANY
PERSONNEL
Name Position
1. Marcus Smidt Managing Director
2. Cosmos Chilese Financial
Manager
3. Jackson Dakea Sales
Consultant
Total Employees
30
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Company is a member of
PSV Holdings Ltd in
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
Zambian importers.
Opinion on maximum credit
: KWACHA 200,000,000
Trade risk assessment :
Opinion on the credit
figure of R 500,000 / 30 days :
We consider the above
figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME :
STANDARD CHARTERED BANK (
Branch :
Main branch
Town :
Chingola
Telephone : (2) 312 088
Fax :
(2) 312 636
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : KWACHA
7,500,000,000 - 2005 - exact
: KWACHA 8,000,000,000 -
2006 - exact
Net Profit :
not given but stated to be profitable
Financial year ends 31
March.
LEGAL STATUS AND
HISTORY
Date Started : March 2001
C.R. No. : 49563
Authorised & Paid up
Capital : KWACHA 5,000,000
Private Limited Liability
Company with the following sole shareholder :
Marcus Smidt 100%
Affiliated companies of
Pump Spares and Valves Limited :
Associates
1. PSV Holdings Ltd
Physical Address:
Meadowdale
Postal Address:
Postnet
Private Bag X19
Gardenview
2047
Telephone: 011 454 6212
Fax: 011 454 6243
Sharecall Line: 0860 778 778 / 011 454 6212
C.R.
No. : 1998/004365/06
2.Jap Medical Supplies
Ltd
(address as per heading)
3.PSV Services
4. Umzantsi
5. OmniRapid
ACTIVITIES
The Company is involved
in the following activities :
Importers and
distributors of pumps and valves for the mining industry.
Imports from
FACILITIES
The Company has the
following facilities :
Office premises and
storage facilities located at the heading address.
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%)