MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
GRUPO PMM LDA |
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Registered Office : |
Rua Almeida Garrett No.18, Coop, Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
January 2007 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and distributors of air-conditioning and
refrigeration equipment. |
RATING &
COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
GRUPO PMM LDA
ADDRESS
Street : Rua Almeida Garrett No.18
Area : Coop
Town : Maputo
Country : Mozambique
Telephone :
(258 21) 418 335
Fax : (258 21) 418 335
SENIOR COMPANY
PERSONNEL
Name Position
1. Mario Joaquim Managing
Director
2. Maria Ferreira Commercial
Director
Total Employees
7
PAYMENTS
No experience of payments
is available.
Subject is a newly
established company operating since January 2007.
Opinion on maximum credit
: As the company has recently started trading and has no financial or payment track record, we recommend as a
matter of caution only dealing on fully secured terms.
Trade risk assessment :
High
Opinion on the credit
figure of US DLRS 100,000 - 60 days:
See above comments.
It is normal accepted
practice for international suppliers to deal on secured terms with Mozambique
importers.
TRADE REFERENCES
NAME :
LG Electronics S.A. (Pty) Ltd (LGESA)
Building :
LG House
Street :
181 Barbara Road
Town :
Elandsfontein
Province :
Gauteng
Country :
South Africa
Telephone : (27 11) 571 6700
Fax :
(27 11) 822 5751
NAME :
Reco (Pty) Ltd
Street :
Cnr Crownwood & Modulus Roads - Ormonde Ext
Town : Johannesburg
Province :
Gauteng
Country :
South Africa
Telephone : (27 11) 309 2800
Fax :
(27 11) 309 3890
NAME :
Europeair Africa (Pty) Ltd
P.O. Box :
4001
Town :
Kempton Park 1620, East Rand
Province :
Gauteng
Country :
South Africa
Telephone : (27 11) 974 2425
Fax :
(27 11) 974 7251
PRINCIPAL BANKERS
NAME :
BANCO MELLENNIUM BIM (fmly BANCO INTERNACIONAL DE MOCAMBIQUE)
Branch :
Avenida 24 de Julho
Town :
Maputo
Telephone : (258 21) 428 151
FINANCIAL INFORMATION
As the Company has only
recently started trading, relevant financial information is not available.
LEGAL STATUS AND
HISTORY
Date Started : January
2007
NUIT (Tax No.): 400165181
Capital : US DLRS 20,000
Companhia Limitada
(limited liability company) with the following shareholders :
1. Mario Joaquim
2. Undiclosed
shareholders
ACTIVITIES
The Company is involved
in the following activities :
Trading as importers and
distributors of air-conditioning and refrigeration equipment.
Subject also provides
installation services.
Subject also provides
legal support services for foreign companies looking for businesses in
Mozambique.
Imports from South
Africa.
Authorize distributors
for LG Electronics.
FACILITIES
The Company has the
following facilities :
Office premises, storage
facilities and workshop 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%)