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MIRA
INFORM REPORT
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Report Date : |
07.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
KONNOCO (ZAMBIA) LTD |
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Registered Office : |
P O Box 21048, Parklanda Kitwe Zambia 21 Mpenzi Avenue Parkland Kitwe |
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Country : |
Zambia |
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Date of Incorporation : |
6.3.1997 |
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Com. Reg. No.: |
101448 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Mining & Exploration of copper, cobalt, gold, silver, selenium,
tellurium and sulphur |
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 : |
100, 000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
KONNOCO (ZAMBIA)
LTD
Principal Address:
P O Box 21048 Parklands Kitwe Zambia
Telephone: +260- 230738/38/41
Fax:+260- 230745
Email: None
Internet: None
Established
6/3/1997
Registration:
No. 101448
Legal Form:
Company Limited BY
Shares
Stock Listing:
Not Listed
Workforce:
2006
400
Office & Factories
Head offices
21 Mpenzi Avenue Parklands Kitwe Zambia
Branches
None
Company Profile:
Paid in Capital RS. 1,000,000
Subscribed Capital
RS. 1,000,000
Shareholders
Name Position
No. of shares Ratio
Mr. Patrice
Motsepe Director
Mr. Arne Lewis Director
Mr. Hannes Meyer Director
TEAL Exploration
& Mining Inc Holding
Company 100.00%
Total 100.00%
Credit Opinion
Our Proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) MWAMBASHI HOLDINGS
ZAMBIA LTD
Company (2) KONNOCO HOLDINGS ZAMBIA LTD
Company (3) MILLBERG HOLDINGS ZAMBIA LTD
Company (4) TEAL GROUP ZAMBIA LTD
Company (5) KATANGA HOLDINGS ZAMBIA LTD
Company (6) TEAL (ZAMBIA) LIMITED
Company (7) TEAL DEVELOPMENT (ZAMBIA) LIMITED
Company (8) TEAL VENTURE
LIMITED
Company (9) TEAL EXPLORATION
(ZAMBIA) LIMITED
Management/ Directors
President/ CEO (1)
Name Mr. Patrice Motsepe
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Arne Lewis
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Mining &
Exploration of copper, cobalt, gold, silver, selenium, tellurium and sulphur
Terms of payment
Buying
terms 10% in cash, 90% on credit
Selling
terms 40% in cash, 60% on credit
Suppliers
Various
Customers
Industrial companies
Recent Sales
USD. 580,000,000
(2006)
Exports
South Africa,
Europe etc
Export Ratio
80.0%
Import Ratio
60.0%
Domestic Market Share
40.0%
Banking relationship
Main
Banks Standard Bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale: In the documents at our disposal nothing
adverse has been shown so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 100,000 outstanding at any one time.
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. |
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%)