MIRA
INFORM REPORT
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Report Date : |
18.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
ZCCM INVESTMENT HOLDINGS PLC |
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Registered Office : |
Makuba Pension House 5309 Dedan Kimathi Road, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
06.01.1970 |
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Com. Reg. No.: |
771 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Copper Mining Services |
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: ZCCM INVESTMENT HOLDINGS PLC
Requested Name: ZCCM
INVESTMENT HOLDINGS PLC
Other Names: Zambia Consolidated Copper Mines inv Holding ltd
ADDRESS AND TELECOMMUNICATION
Physical Address: Makuba
Pension House 5309 Dedan Kimathi Road, Lusaka, Zambia
Postal Address: P.o Box 30048
Lusaka 10101
Country: Zambia
Phone: 260-1-221023/220351
Fax: 260-1-221057/220449
Email: corporate@zccm-ih.com.zm
Website: www.zccm-ih.com.zm
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: 6-Jan-70
Reg. Number: 771
Nominal Capital ZMK 50,000,000
Subscribed Capital ZMK 50,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. G.K. Chibuye Chairman
Mr. Joseph Mwansa Chikolwa CEO
Mr. Z. Zekko Director
Mr. W. S. Musama Director
Mr. M. Shandavu Director
Mr. A. J. Lungu Director
Private equity holders Shareholder 12.40%
Anglo American Plc Shareholder 27.30%
Government of Zambia Holding Co. 60.30%
RELATED COMPANIES
Government Of Zambia Parent company.
Chambishi Metals Plc,
Noda Lime Company,
Equinox Minerals,
Copperbelt Energy
Corporation Plc, Chibuluma Mines Plc,
Kansanshi Mining Plc,
Konkola Copper Mines,
Luanshya Copper Mines Plc,
Mopani Copper Mines Plc
NFC Africa Mining Plc. Subsidiary companies.
None Affiliated company.
None Shareholder of subject firm.
Kitwe in Zambia Branches of the firm
OPERATIONS
Registered to
operate copper mining services
Imports: Tiles
and materials from 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: 60
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Zambia
Location: Owned premises,
52.000 square feet,
AUDITORS AND INSURANCE
Auditors: KPMG
Insurance Brokers: Information not
available
FINANCE
Currency Reported: Zambian Kwacha (ZMK)
Approx. Ex. Rate: 1 US Dollar = 4765.22 Zambia 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
Profit and Loss (expressed in USD)
2007
Sales 580,000,000
BANK
Bank Name: Zambia National Commercial Bank
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
CHECK
INSOLVENCIES
The checks have been made
on: The company
and managers
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.47.08 |
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UK Pound |
1 |
Rs.71.17 |
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Euro |
1 |
Rs.66.98 |
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%)