MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
CORPUS LEGAL PRACTITIONERS |
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Registered Office : |
The |
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Country : |
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Year of Establishment : |
1995 |
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Com. Reg. No.: |
432341 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
providers of commercial and corporate legal 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
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Registered Name: |
CORPUS LEGAL
PRACTITIONERS |
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Requested Name: |
CORPUS GLOBE ( |
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Other Names: |
None found. |
ADDRESS AND TELECOMMUNICATION
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Physical Address: |
The |
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Postal Address: |
P.o
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Country: |
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Phone: |
260-21-1235479/81/23037577 |
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Fax: |
260-21-1238657 |
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Email: |
corpus@corpus.co.zm |
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Website: |
none |
CREDIT OPINION & RISK RATING
ASSESSMENT
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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
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
1995 |
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Reg. Number: |
432341 |
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Nominal Capital |
ZMK
1,000,000 |
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Subscribed Capital |
ZMK
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Elias C. Chipimo Jr |
MD/
CEO |
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Mr. Charles C Mkokweza |
Director |
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Mr. Charles Siamutwa |
Director |
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Ms.
Deborah Bwalya |
Director |
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Mr.
Mabvuto Sakala |
Director |
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Mr.
Sydney Chisenga |
Associate |
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Ms. Jackie
Jhala |
Associate |
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Mr. Arthur
Sike |
Associate |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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Lex |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Various in |
Branches of the firm |
OPERATIONS
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Registered to operate as providers
of commercial and corporate legal services |
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Imports: |
None |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 30 days (60%), invoices. |
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Main Customers: |
Banks, Mining Companies and Corporations |
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Employees: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Rented premises, 2.000 square feet, |
AUDITORS AND INSURANCE
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Auditors: |
Price water house coopers |
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Insurance Brokers: |
Information not available |
FINANCE
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Currency Reported: |
Zambian Kwacha (ZMK) |
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Approx. Ex. Rate: |
1 US Dollar = 4,600.5
Zambian Kwacha |
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Fiscal Year End: |
December 31, 2007 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2007 was of 13%. |
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Financial Information Not
Submitted |
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2007 |
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Sales |
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24,000,000,000 |
BANK
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Bank Name: |
BARCLAYS
BANK |
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Branch: |
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Comments: |
None |
TRADE
REFERENCES
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Experiences: |
Good |
NOTARIhAL
BONDS
None
CHECK
INSOLVENCIES
The checks have been
made on: The company and
partners
PROTESTS
AND NEGATIVE ELEMENTS
The company and the following officers Mr. Elias C. Chipimo, Mr. Charles
C Mkokweza, Mr. Charles Siamutwa, Ms. Deborah Bwalya, Mr. Mabvuto Sakala, Mr.
Sydney Chisengahave been checked at the Registries of companies and with the
judicial local facilities.
PROTESTS RECORDED
No protests in the name of the company and its officers, No protests on
the associated concerns, No protests on shareholders/partners, Check on
Prejudicial Events as per
NEGATIVE ELEMENTS
Researches effected
concerning possible prejudicial events
in the name of the company
revealed: No negative elements since 01/01/2000
Date of the check on protests and prejudicial events: 24/12/2008
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%)