MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
VAMBIRI INVESTMENTS LTD |
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Registered Office : |
Plot 12512 Munbwe Road, P.O. Box 35667, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
June 2005 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers and distributors of household cleaning products
and confectionery |
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 100,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
COMPANY NAME
VAMBIRI INVESTMENTS LTD
ADDRESS
Street : Plot 12512 Munbwe Road
P.O. Box : 35667
Town : Lusaka
Country : Zambia
Telephone : (260 1) 286 214 / 286 215
Fax : (260 1) 286 214
E-Mail : vivsass@zamnet.zm
SENIOR COMPANY
PERSONNEL
Name Position
Vivian Sass Managing Director
Total Employees
8
PAYMENTS
No complaints have been heard regarding payments from local suppliers or banks.
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 100,000,000
Trade risk assessment: Normal
PRINCIPAL BANKERS
NAME : STANBIC BANK ZAMBIA LIMITED
Branch : Main Branch
PO Box : 31935
Town : Lusaka
Telephone : (260 1) 229 285
Fax : (260 1) 221 152
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the following information :
Sales Turnover : US DLRS 750,000 - 2005 - exact
: US DLRS 1,500,000 - 2006 - exact
Net Profit : not given but stated to be approximately 5%
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : June 2005
History : The company was incorporated in Zambia in June 2005.
Capital : not given
Private Limited Liability Company with the following shareholders :
1. Vivian Sass (main shareholder)
2. Other undisclosed shareholders based in Zimbabwe
ACTIVITIES
The Company is involved in the following activities :
Importers and distributors of household cleaning products and confectionery.
Imports from South Africa, USA, Germany and Zimbabwe.
Principal suppliers: GlaxoSmithKline, South Africa
SC Johnson, South Africa
FACILITIES
The Company has the following facilities :
Rented premises comprising administrative offices and storage facilities located at the heading address.
SPECIAL NOTE
You enquired on: VAMBIRI INVESTMENTS. Please note the correct name is as per heading.
You have given PO Box 35637 Lusaka. Please note correct details are as per heading.
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%)