MIRA INFORM REPORT

Report Date :

28.02.2007

IDENTIFICATION DETAILS

Name :	SUPERAFRICA SOCIEDADE COMERCIAL E INDUSTRIAL LDA

Registered Office :	Rua Luther King 108, Luanda, Luanda

Country :	Angola

Date of Incorporation :	1993

Legal Form :	Limited Liability Company

Line of Business :	Trading as importers, wholesalers and retailers of home furniture.

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small

Maximum Credit Limit :	KWANZA 2,000,000

Status :	Moderate

Payment Behaviour :	Usually correct

Litigation :	Clear

COmpany NAME

SUPERAFRICA SOCIEDADE COMERCIAL E INDUSTRIAL LDA

ADDRESS

Street : Rua Luther King 108

Town : Luanda

Province : Luanda

Country : Angola

Telephone : (244 222) 391 989 / 397 898

Fax : (244 222) 338 280

E-Mail : superafrica_limitada@yahoo.com.br

SENIOR COMPANY PERSONNEL

Name Position

1. Ali Vissaram Managing Director

2. Hugo Rodrigues Commercial Director

3. Gisele Galiano Imports Manager

4. Fatima Melro Store Manager

Total Employees

PAYMENTS

No complaints have been heard regarding payments from local suppliers or banks.

Subject is a well established company operating since 1993.

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 Angolan importers.

Opinion on maximum credit : KWANZA 2,000,000

Trade risk assessment : Normal

PRINCIPAL BANKERS

NAME : BANCO DE POUPANCA E CREDITO (BPC)

Branch : Main branch

Street : Largo Saydi Mingas

PO Box : 1248

Town : Luanda

Telephone : (244 222) 390 041

Fax : (244 222) 393 790

The company also has an account with the following banks:

1. Banco Sol

2. Banco de Fomento Angola (BFA)

3. Banco Regional Do Kev (BRK)

4. Banco de Comercio e Industria (BCI)

5. Banco Totta Angola (BTA)

6.- Banco Comercial Angolano (BCA)

7. Banco Africano de Investimentos SARL (BAI)

8. Banco International de Credito (BIC)

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 : 1993

VAT No. : 5410002792

Capital : not given

Companhia Limitada (Limited Liability Company) with the following shareholders :

1. Ali Vissaram (main shareholder)

2. Other undisclosed shareholders.

ACTIVITIES

The Company is involved in the following activities :

Trading as importers, wholesalers and retailers of home furniture.

Subject also engages in import, wholesale and retail of building materials, including, sanitary equipment, suspended ceilings, wall and floor mosaics.

Imports furniture only from Italy, Portugal and Spain. Subject also imports from China, South Africa and Dubai.

Main overseas suppliers include :

- Meco (Italy)

- Samurza (Spain)

FACILITIES

The Company has the following facilities :

Administrative offices, retail outlet and storage facilities located at the heading address.

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
NR		In view of the lack of information, we have no basis upon which to recommend credit dealings	No Rating

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions