MIRA
INFORM REPORT
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Report Date : |
25.10.2007 |
IDENTIFICATION DETAILS
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Name : |
POLANA CASINO |
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Registered Office : |
AV Julius Nyerere 1380 |
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Country : |
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Date of Incorporation : |
14/7/1996 |
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Com. Reg. No.: |
No. 196498 |
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Legal Form : |
Limited Liability company, Limited by shares |
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Line of Business : |
Casino, Entertainment and Gaming machines |
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 : |
USD 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
POLANA CASINO
Address
Avenue Julius Nyerere 1380
Telephone: +258-1490437
Fax: +258-1490480
Email: res@polana-hotel.co.mz
Internet: res@polana-hotel.co.mz
Established
14/7/1996
Registration
No. 196498
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
100
Office &
Factories
Head offices
Branches None
Company Profile
Paid in Capital MZM. 5,000,000,000
Subscribed Capital MZM. 5,000,000,000
Shareholders
Name Position Amount
Ratio
Mr. Theodore Watty CEO
Mr. Jacinto Veloso Director
Polana Hotel Holding Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 120,000 is recommendable
Affiliated
Companies
None
Management/
Directors
President/ CEO (1)
Name Mr. Theodore
Watty
Work Experience 10 years in this line of business
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Jacinto
Veloso
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
Casino,
Entertainment and Gaming machines
Terms of payment
Buying terms 30%
in cash, 70% on credit
Selling terms Cash
Suppliers
None Stated
Customers
Companies & public
Recent Sales
USD.
25,000,000 (2006)
Exports
None
Export Ratio
0.0%
Import Ratio
10.0%
Domestic Market
Share
90.0%
Banking
relationship
Main Banks BIM 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 120,000 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%)