MIRA
INFORM REPORT
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Report Date : |
7th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
OSMAN ALI MOHAMED AND CO |
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Registered Office : |
Near Market Square, P.O. Box : 140, Zomba, Malawi |
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Country : |
Malawi |
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Date of Incorporation : |
1962 |
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Com. Reg. No.: |
6668 |
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Legal Form : |
General Partnership |
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Line of Business : |
Importers, wholesalers and retailers of bicycles and bicycle spare
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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Maximum Credit Limit : |
KWACHA 8,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
COMPANY NAME
OSMAN ALI MOHAMED AND CO
ADDRESS
Area : Near Market Square
P.O. Box :
140
Town : Zomba
Country : Malawi
Telephone :
(265) 152 4597 / 1524286
Fax : (265) 152 5128
E-Mail : osman-group@sdnp.org.mw
SENIOR COMPANY PERSONNEL
Name Position
1. Ahmed Osman Managing Parner
2. Yusuf Osman Partner
Total Employees : 21
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is an old
established family owned business operating since 1962.
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
Malawi importers.
Opinion on maximum credit
: KWACHA 8,000,000
Trade risk assessment : Normal
PRINCIPAL BANKERS
NAME :
STANBIC BANK ZAMBIA LIMITED
Branch :
Main Branch
P.O. Box : 302
Town :
Zomba
Telephone : (265) 152 4144
FINANCIAL INFORMATION
Balance sheets are not available.
However, the subject interviewed offered the following information :
Sales Turnover :
US DLRS 1,000,000 - 1999 - exact
: US DLRS
3,000,000 - 2000 - exact
: US DLRS
3,000,000 - 2001 - exact
: KWACHA
150,000,000 - 2002 - exact
: KWACHA
150,000,000 - 2003 - exact
: KWACHA
250,000,000 - 2004 - exact
: KWACHA
350,000,000 - 2005 - exact
: KWACHA 400,000,000 - 2006 - exact
Net Profit :
US DLRS 108,000 - 1999 - exact
: US DLRS
300,000 - 2000 - exact
: US DLRS
300,000 - 2001 - exact
: KWACHA
15,000,000 - 2002 - exact
: KWACHA
15,000,000 - 2003 - exact
: not given
- 2004 - 2005
: KWACHA
40,000,000 - 2006 - exact
Financial year ends 31
December.
LEGAL STATUS AND HISTORY
Date Started : 1962
History : The company was established in
Malawi in 1962.
C.R. No. : 6668
Capital : not applicable
General Partnership with the following partners :
1. Abdul Rashid Osman
2. Yusuf Osman
(brother of the above)
3. Other members of the
Osman family
Affiliated companies of Osman Ali Mohamed And Co :
Subsidiaries
1. Osman Wholesalers
Zomba
2. A.R. Osman
Zomba
ACTIVITIES
The Company is involved
in the following activities :
Importers, wholesalers
and retailers of bicycles and bicycle spare parts.
Subject also provides
bicycle repair and maintenance services.
Imports from India and
China.
Overseas suppliers include :
1. Metro Exporters Ltd -
India
Fax :
(91 22) 367 7571
Contact :
Mr Tanna
2. Avon Cycles Ltd -
India
Fax :
(91 161) 511493
Contact :
Onkar Singh
3. Eastman Int'l - India
Fax :
(91 161) 670932
Contact :
Manish Bansal
4. Dumar Exports - India
Fax :
(91 161) 534092
Contact :
Amrit Pal Singh
5. Sameer Exports
Fax :
(91 161) 671101
Contact :
Mr. Tangri
FACILITIES
The Company has the
following facilities :
Owned administrative
office, showroom, storage facilities and workshop 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%)