MIRA
INFORM REPORT
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Report Date : |
27.11.2008 |
IDENTIFICATION DETAILS
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Name : |
PETROTEC INDUSTRIES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.04.1995 |
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Com. Reg. No.: |
112194 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Petroleum Equipment,
Pumps Accessories etc |
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 300,000 |
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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: PETROTEC INDUSTRIES
Requested Name: Petrotec
Industries
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address:
Postal Address: 721 Av Josina Machel,
Country:
Phone: 258-21-313407
Fax: 258-21-307851
Email: petrotec@petrotec.co.mz
Website: www.petrotec.co.mz
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 300,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 16-04-95
Reg. Number: 112194
Nominal Capital MZM. 5,000,000
Subscribed Capital MZM. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. L
Rocha MD/ CEO
Mr.
Carlos Costa Pinto Director
Mr. S
J Antony Director
Grupo
Petrotec SA Holding Company 100
RELATED COMPANIES
Grupo Petrotec, SA Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
One Branches of the firm
OPERATIONS
Registered to operate of petroleum equipment, pumps
accessories etc
Imports: Europe,
Asia and
Exports:
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Petroleum
firms and organizations
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Rented
premises, 2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported:
Approx. Ex. Rate: 1
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 MZM.)
2007
Sales 104,000,000
BANK
Bank Name: AMB Banco
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.49.84 |
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1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)