MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
COPPERNET SOLUTIONS LTD |
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Registered Office : |
Ground Floor Mukuba Pension House Dedan |
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Country : |
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Date of Incorporation : |
30.04.1999 |
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Com. Reg. No.: |
84275 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Providers of Information
Technology and Communication 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: COPPERNET SOLUTIONS LTD
Requested Name: COPPERNET
SOLUTIONS LTD
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Ground Floor Mukuba Pension House Dedan
Postal Address: P.o
Country:
Phone: 260-01-224444/223333
Fax: 260-01-226666
Email: info@coppernet.zm
Website: www.coppernet.zm
CREDIT OPINION
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: 30-April-1999
Reg. Number: 84275
Nominal Capital ZMK 1,000,000
Subscribed Capital ZMK 1,000,000
Subscribed Capital
is Subscribed in the following form:
PositionShares
Mr.
Phillip Chitalu MD/ CEO
Mr.
Kedrick Sikazwe Director
Mr. Cris Munyati Director
Mr.
Tom Lungu GM
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
OPERATIONS
Registered to operate as providers of information
technology and communication services
Imports:
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 8
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Owned
premises, 10.000 square feet,
AUDITORS AND INSURANCE
Auditors: Internal auditing
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Zambian Kwacha (ZMK)
Approx. Ex. Rate: 1 US Dollar = 5077.58 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: First National Bank
Branch:
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)