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MIRA
INFORM REPORT
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Report Date : |
22.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
DRAKE
AND GORHAM (ZAMBIA) PTY LTD |
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Registered Office : |
Plot 5172, Chishango Road, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
01.10.1958 |
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Com. Reg. No.: |
87562 Lusaka Zambia |
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Legal Form : |
Limited
Liability Company, Limited by Shares |
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Line of Business : |
Mechanical and Electrical
Contractors, Air-Conditioning and Refrigeration Contractors |
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 |
COMPANY REPORTED
DRAKE AND GORHAM
(ZAMBIA) PTY LTD
Principal Address
Plot 5172, Chishango Road, Lusaka Zambia
Telephone: +260-1-227933/ 4/ 226516
Fax:+260-1-224462
Email: info@drakeandgorham.com
Internet: www.drakeandgorham.com
Established
1/01/1958
Registration
No. 87562 Lusaka Zambia
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
300
Office & Factories
Head offices Plot 5172, Chishango Road, Light Industrial
Area, Lusaka Zambia
Branches Makoli Avenue, Ndola, Zambia
Company Profile
Paid in Capital ZMK. 100,000,000
Subscribed Capital ZMK. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Norlene
Luering. Director
Agrecold
International Co. Holding
Co. 100.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr.
Norlene Luering.
Remarks Top
Decision Maker
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Mechanical and
electrical contractors, air-conditioning and refrigeration contractors
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
EBMPAPST, ect
Customers
Hotels, Supermarkets,
Airports, hospitals & other government Institutions etc
Recent Sales
ZMK. 8,500,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
40.0%
Banking relationship
Main Banks Zambia National
Commercial Bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale: In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING: Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 100,000 outstanding at any one time.
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%)