MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION DETAILS
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Name : |
UNITED CHEMOLIDE INDUSTRIES Z LTD |
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Registered Office : |
Plot 7154, |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
12.3.1992 |
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Com. Reg. No.: |
14784 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Distributors of Pumps, Mining Accessories, Equipments, Electric Motors,
Starters, Control Panels, Submersible Cables and Couplings |
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: UNITED CHEMOLIDE INDUSTRIES Z LTD
Requested Name: United
Chemolide Industries Z Ltd
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
7154,
Postal Address: P.o
Country:
Phone: 260-1-286538/ 289080/ 288818
Fax: 260-1-/ 287047
Email: ucizksb@zamnet.zm
Website: None
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: 12/3/92
Reg. Number: 14784
Nominal Capital ZMK. 10,000,000
Subscribed Capital ZMK. 10,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. S M Patel MD/ CEO 80%
Mr. V M Menon Director 20%
Mr. B N Patel Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as manufacturers & Distributors
of Pumps, mining accessories, equipments, electric motors, starters, control
panels, submersible cables & couplings
Imports:
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 60
employees.
Vehicles: Several
motor vehicles.
Territory of sales:
Location: Rented/
Owned premises, 52.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Zambian Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 4600 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
Profit and Loss (expressed in ZMK.)
2007
Sales 6,800,000,000
BANK
Bank Name: Indo
Zambia Bank
Branch:
Account Number:
Enquiry Amount: 100,000
Terms: 90 days
Bank Code: Code -D which means good for Moderate
Business Engagements.
Code -C which means good for normal Business Engagements
Comments: Overdraft None, Promissory notes- 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%)