MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AUTOWORLD LIMITED |
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Registered Office : |
Plot 1572, Freedom Way, Lusaka 10101 |
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Country : |
Zambia |
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Date of Incorporation : |
May 1992 |
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Com. Reg. No.: |
1864 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Dealer in Motor Vehicle Parts, Tyres,
Accessories, ... Boats, Marine Equipment and Accessories in Zambia |
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 280,000.00 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Name
Autoworld Limited
Company acronym: -
Contact Information
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Address |
Plot 1572, Freedom Way Lusaka 10101, Zambia |
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Postal Address |
P O BOX 31407 Lusaka |
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Telephone |
+ 260 1 223 207 + 260 1 237716 + 260 1 237719 |
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Fax |
+ 260 1 223323 |
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Email |
info@autoworldzm.com |
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Website |
www.autoworldzm.com |
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Other Information |
Autoworld was founded by the company Chairman, Noble Findlay along with
the help of the Directors; his wife, Cossie Findlay and two sons, Glenn
Findlay and Christopher Findlay. |
Registration Data
|
Date of Registration |
May 1992 |
|
Registration number |
1864 |
|
Legal address |
Plot 1572, Freedom Way Lusaka 10101, Zambia |
|
Legal Form |
Limited Liability Company |
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Share Capital |
320,500,000.00ZMK |
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Other Registration Data |
- |
Shareholders
with Shares
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Shareholder Names |
Share% |
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Findlay Family |
100% |
Board/Executive
|
Name |
Mr. Peter Mukwakwa |
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Position within the company |
Finance Director |
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Can fluently speak |
English |
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Name |
Mr. Noble Findlay |
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Position within the company |
Chairman |
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Can fluently speak |
English |
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Name |
Mr. Cossie Findlay |
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Position within the company |
Director |
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Can fluently speak |
English |
Changes in
Registration Data
None recorded
Activities (
realistic and officials)
The subject is a dealer in motor vehicle parts,
tyres, accessories, ... boats, marine equipment and accessories in Zambia
Staff
|
Number of staff employed |
300 |
Export/Import
( Countries, goods and total values for the period)
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Imports From |
Germany, France, Italy, USA, UK |
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Importing Terms |
Letters of Credit |
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Import % and type of product |
100% - Finished Products |
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Exports To |
African countries |
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Exporting Terms |
Special agreements |
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Export % and type of product |
10%- Finished Goods |
Facilities
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Owned |
Offices, Warehouse |
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Premises Size |
- |
Branches
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Address |
Lusaka - Kafue Road (Downtown) Lusaka - Lumumba Road South Ndola - President Avenue Kitwe - Freetown Road Livingstone - Musi-o-tunya Road |
Bankers
|
Bank |
Development Bank of Zambia |
Suppliers,
Partners
|
Suppliers |
Not known |
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Distributorships Dealerships |
Maine Power Sicam Nitor Sea Pro Good Year Boston Whaler Bayliner |
Litigation,
Remarks on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
It declined all financial information.
Reporter Comments
|
Comments |
In the interview conducted with Mrs. Jrja Kaluwa( Assistant ) , she declined bank
account number and financial information citing the grounds of company
confidentiality. Note: The registered
name of company is Autoworld Limited. |
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Local Reputation |
The company being investigated is believed by local reporters to be a Medium Trade Risk and to be
fair. |
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Owner/Shareholders Comments |
All or most of the owners / shareholders have an active participation in
the running of the business. |
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Age of Business |
Old Family |
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MAX CREDIT |
USD 280,000.00 |
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)