MIRA
INFORM REPORT
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Report Date : |
29.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
WK CONSTRUCOES LDA |
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Registered Office : |
Avenida Samora Machel No.468, Matola, Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Engages in building construction and civil works. |
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 : |
NEW METICAL* 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
WK CONSTRUCOES LDA
(Correct)
WK CONSTRUQUES LDA
(Requested)
ADDRESS
Street : Avenida Samora Machel No.468
Town : Matola
Province :
Maputo
Country : Mozambique
Telephone :
(258 21) 781 788 / (258 82) 327 1140 (mobile)
Fax : (258 21) 780 391
SENIOR COMPANY
PERSONNEL
Name Position
1. Paul Brown Operations Director
2. Ash L. Davies Maputo
Office Manager
Total Employees
300
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a wholly owned
subsidiary of WK Construction (Pty) Ltd and a member of the WK Group of
companies. The group operates in South Africa, Nigeria, Namibia, Botswana,
Zambia, Angola and Mozambique and is a leading Southern African Civil
Engineering and Building contractors.
In view of subjects
ownership, we consider it is acceptable to deal with subject for SMALL amounts.
Opinion on maximum credit
: NEW METICAL* 1,500,000
Trade risk assessment :
Normal
Opinion on the credit
figure of IND Rs 200,000 - 30 days:
We consider the above
figure to be within the company's financial capabilities.
It is normal accepted practice
for international suppliers to deal on secured terms with Mozambique importers.
* On 1 July 2006 the
Government of Mozambique redenominated its currency the METICAL. One NEW
METICAL now equals 1,000 old Meticals.
PRINCIPAL BANKERS
NAME :
BANCO MILLENNIUM BIM (fmly BANCO INTERNACIONAL DE MOCAMBIQUE)
Balcao :
106
Branch :
Corporate
Street :
Avenida Zedequias Manganhela No.496
P.O. Box : 865
Town :
Maputo
Telephone : (258 21) 354 800 / 354 810 / 354 811
Fax :
(258 21) 354 808 / 354 809
Account No. :124740352
Branch Manager: Dr.
Moises Jorge
The company also has an
account with Standard Bank (formerly Banco Standard Totta de Mocambique).
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 : 2000
NUIT (Tax No.) : 400073171
Capital : not given
Companhia Limitada (limited
liability company) with the following sole shareholder :
WK Construction (Pty)
Ltd 100%
16 Industry Road
Olifantsfontein
Johannesburg
Gauteng
South Africa
Tel : (27 11) 206 2000 /
316 2275
Fax : (27 11) 316 8857
Ultimate Parent Company:
WK Holdings (Pty) Ltd
245 North Ridge Road
Morningside
Durban 4001
P.O. Box: 70584
Kwazulu Natal
South Africa
Affiliated companies of
WK Construcoes Lda :
Associates
1. WK Nigeria Ltd
Lagos
Tel : (234 802) 826 6714 (mobile)
Nigerian Office Manager : Rob Torry, Tel
(27 82) 905 5888 (mobile)
2. WK Namibia
3. WK Botswana
4. WK Zambia
5. WK Angola
ACTIVITIES
The Company is involved
in the following activities :
Engages in building
construction and civil works.
FACILITIES
The Company has the
following facilities :
Office premises and
storage facilities located at the heading address as well as site office in
Pande, Inhambane Province.
SPECIAL NOTE
You enquired on : WK
Construques Lda.
Please note the correct name
is 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%)