MIRA
INFORM REPORT
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Report Date : |
07.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MIPS-TERMINAL
DE CONTENTORES |
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Registered Office : |
P.O Box 3203 |
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Country : |
Mozambique |
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Date of Incorporation : |
9.03.1996 |
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Com. Reg. No.: |
203051Mozambique |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Import and Export Freight Forwarding Agency |
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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
MIPS-TERMINAL DE
CONTENTORES
Principal Address
P.o Box 3203 Mozambique
Telephone: +258-21-429548/ 301995
Fax: +258-21-305718
Email: mips@mipsmoz.com
Internet: www.mips.co.mz
Established
9/03/1996
Registration
No. 203051Mozambique
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
150
Office & Factories
Head offices Container Terminal
- Port of Maputo, Mozambique
Branches None
Company Profile
Paid in Capital MZN. 100,000,000
Subscribed Capital MZN. 100,000,000
Shareholders
Name Position Amount Ratio
Mr. Jorge Ferraz CEO
Mr. Pedro Pena Director
Mrs. Luisa Humbane Director
Mozambique Ports
and Railway Company Shareholder 40.00%
DP World Holding
Co. 60.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 150,000 is recommendable
Affiliated Companies
Company (1) ALEXANDER FORBES
MOZAMBIQUE
Company (2) AVIS MOZAMBIQUE
Company (3) BP AFRICA
Company (4) STURROCK SHIPPING
(MOZAMBIQUE) LDA
Company (5) FREITAN SA
Company (6) MANGANESE METAL
COMPANY
Company (7) MPUMALANGA
ECONOMIC GROWTH AGENCY
Company (8) SOUTHERN CAHRTERING
Company (9) SUPER LOGISTICS
INTERNATIONAL LDA
Company (10) TIGER BRANDS
MOZAMBIQUE
Management/ Directors
President/ CEO (1)
Name Mr. Jorge Ferraz
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr. Pedro Pena
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
Import and export
freight forwarding agency
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None
Customers
Local agencies ,stores and
outlets
Recent Sales
MZN. 26,800,000,000
(2007)
Exports
worldwide
Export Ratio
50.0%
Import Ratio
50.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks MCB 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 150,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.12 |
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UK Pound |
1 |
Rs.85.08 |
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Euro |
1 |
Rs.67.41 |
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%)