MIRA
INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
NEOCARE LDA |
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Registered Office : |
Avendida Das Industrias 749 Machava Matola |
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Country : |
Mozambique |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
17.08.1998 |
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Com. Reg. No.: |
447498 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of Liquid
and Power Detergents and a variety of Cosmetics |
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: NEOCARE LDA
Requested Name: NEOCARE
LDA
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Avendida
Das Industrias 749 Machava Matola,
Postal Address: Avendida
Das Industrias 749 Machava
Matola
Country: Mozambique
Phone: 258-82-3032960
Fax: 258-82-3032960
Email: none
Website: none
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: Sole Proprietorship
Date Incorporated: 17-Aug-98
Reg. Number: 447498
Nominal Capital MZM 10,000,000
Subscribed Capital MZM 10,000,000
Paid Up Capital MZM 10,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
Pedro Vieira MD/ CEO
Mr.
P. Seabra Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Factory in Machava, Mozambique Branches of the firm
OPERATIONS
Registered to operate as distributors of liquid and
power detergents and a variety of cosmetics
Imports: Asia
, China, and South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: various
Employees: 60
employees.
Vehicles: 3
motor vehicles.
Territory of sales: Mozambique
Location: Rented premises,
5000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not
available
FINANCE
Currency Reported: Mozambican Metical (MZM)
Approx. Ex. Rate: 1 US Dollar = 24,249.48 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
2007
Sales 78,000,000,000
BANK
Bank Name: FIR
Branch: Machava, Matola, Mozambique
Account Number: 1725814
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
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%)