MIRA
INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOZAL SARL LTD |
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Registered Office : |
Belulane Industrial Park District of Boane Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
05.06.1998 |
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Com. Reg. No.: |
418747 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Producer of Aluminium
Products and Alloys |
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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: MOZAL SARL LTD
Requested Name: MOZAL
SAR LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Belulane
Industrial Park District of Boane Maputo, Mozambique
Postal Address: P.o Box 1235
Maputo
Country: Mozambique
Phone: 258-21-735000
Fax: 258-21-735082
Email: mozal.site@bhpbilliton.com
/ mozal.marketing@bhpbilliton.com
Website: www.mozal.com
CREDIT OPINION & RISK RATING
ASSESSMENT
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 05/06/1998
Reg. Number: 418747
Nominal Capital MZM 1,000,000
Subscribed Capital MZM 1,000,000
Paid Up Capital MZM 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Marius Kloppers MD/ CEO
Mr. Rex Niven Director
Ms.
Zora Madikiazela Director
Mr. Samuel Gudo Manager
Mr.
Fiona Green Manager
BHP Billiton Limited Shareholder 47.10%
Mitsubishi corp. Shareholder 25.00%
Industrial Development Corporation SA Shareholder 24.00%
Government of Mozambique Shareholder 3.90%
RELATED COMPANIES
BHP Billiton Parent company.
None Subsidiary company.
Hillside Aluminium South Africa Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as producer of aluminium
products and alloys
Imports: Italy,
China, India and South Africa
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms and organizations
Employees: 1024 employees.
Vehicles: Several motor
vehicles.
Territory of sales: Mozambique
Location: Owned premises,
20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Price water house coopers
Insurance Brokers: Information not
available
FINANCE
Currency Reported: Mozambican Metical (MZM)
Approx. Ex. Rate: 1 US Dollar = 24249.48 Mozambican Metical
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at December 31st,
2007 was of 13%.
Financial Information Submitted
2008
Sales 520,000,000
BANK
Bank Name: FIR,
Corporate Johannesburg
Comments: Overdraft None, Promissory notes- None
TRADE
REFERENCES
Experiences: Good
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.12 |
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UK Pound |
1 |
Rs.72.59 |
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Euro |
1 |
Rs.63.52 |
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%)