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MIRA
INFORM REPORT
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Report Date : |
16.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRICAL MAINTENANCE (LUSAKA) LTD |
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Registered Office : |
Luanshaya Road East End, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
24.6.1964 |
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Com. Reg. No.: |
1520 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Electrical Engineers, Manufacturers and Maintenance Services Providers |
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 700,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: ELECTRICAL MAINTENANCE (LUSAKA) LTD
Requested Name: ELECTRICAL
MAINTENANCE (LUSAKA) LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Luanshaya Road East End, Lusaka
Postal Address: P.o Box 31189
Lusaka 1010
Country: Zambia
Phone: 260-1-227824/5/6/7/8/235366/7/8/9/235370
Fax: 260-1-226551/237014
Email: mail@eml-eis.com
Website: www.eml-eis.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 700,000 on 30 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 24/6/1964
Reg. Number: 1520
Nominal Capital ZMK 100,000 Divided into Shares
of 10,000
each
ZMK 50
Subscribed Capital ZMK 100,000
Paid Up Capital ZMK 100,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
George Narder MD/ CEO 50
Mrs.
M Nives Narder Director 50
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Electrical Instrumentation Services Limited Affiliated company.
None Shareholder of subject firm.
Kitwe in Zambia Branches of the firm
OPERATIONS
Registered to operate as electrical engineers,
manufacturers & maintenance services providers
Imports: South
Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: various
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Zambia
Location: Rented
premises, 2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Zambian Kwacha (ZMK)
Approx. Ex. Rate: 1 US Dollar = 4855 Zambian Kwacha
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 Not Submitted
BANK
Bank Name: Stanbic Bank
Comments: Overdraft None, Promissory notes- 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.47.82 |
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UK Pound |
1 |
Rs.73.08 |
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Euro |
1 |
Rs.65.56 |
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%)