MIRA INFORM REPORT

 

 

Report Date :

12.05.2007

 

IDENTIFICATION DETAILS

 

Name :

MODAS POP LDA

 

 

Registered Office :

Avenida de Zambia No 326, Maputo

 

 

Country :

Mozambique

 

 

Date of Incorporation :

1972

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Retailers of men's, children's and ladies' clothes, shoes and cosmetics.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

NEW METICAL* 200,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COmpany NAME

 

MODAS POP LDA

 

 

ADDRESS

 

Street                           :  Avenida de Zambia No 326

Town                 :  Maputo

Country             :  Mozambique

Telephone         :  (258 21) 400 586 / 421 714 (residence)

Fax                   :  (258 21) 321 714

 

 

SENIOR COMPANY PERSONNEL

 

Name                                                    Position

 

Rajesh Naguine Trikam               Managing Director

 

 

Total Employees

 

3

 

 

PAYMENTS

 

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

 

Subject is a very small business operating since 1972.

 

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 Mozambique importers.

 

Opinion on maximum credit : NEW METICAL* 200,000

 

Trade risk assessment : Normal

 

* See 'General Information' below.

 

 

PRINCIPAL BANKERS

 

NAME               : STANDARD BANK (FORMERLY BANCO STANDARD TOTTA DE MOCAMBIQUE)

Branch              : Central

Street                           : Praca 25 Julho 1

PO Box             : 1119

Town                 : Maputo

Telephone         : (258 21) 423 047 / 424 597

Account No       : 014007111301

 

 

FINANCIAL INFORMATION

 

Private companies in Mozambique are not required to publish or disclose balance sheets. However, the subject interviewed provided the following financial information :

 

Sales Turnover   : NEW METICAL 6,000,000 - 2006 - estimated

 

Net Profit            : not given

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started      : 1972

 

Capital              : not given

 

Sociedade Limitada (Limited Liability Company) with the following sole shareholder :

 

Rajesh Naguine Trikam      100%

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Retailers of men's, children's and ladies' clothes, shoes and cosmetics.

 

Imports from Portugal and South Africa.

 

Brand names include : Navada Clothing, Paris Belts, Polo Company and Gerald Collin.

 

 

FACILITIES

 

The Company has the following facilities :

 

Small-sized premises comprising administrative office, 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