MIRA INFORM REPORT
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Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
HIDROELECTRICA CAHORA BASSA MOZAMBIQUE |
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Registered Office : |
Postal 269 Singo Tete |
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Country : |
Mozambique |
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Date of Incorporation : |
07.05.1970 |
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Com. Reg. No.: |
No.6456 Mozambique |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Generation of
Electricity power |
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 400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY REPORTED
HIDROELECTRICA
CAHORA BASSA MOZAMBIQUE
Other Name
HIDROELECTRICA
CAHORA BASSA SARL (HCB)
Principal Address
Postal 269 Singo Tete Mozambique
Telephone: +258-252-82194
-350724/ 35070
Fax: +258-252-82364
Email: ramiro.sng@hcb.co.mz
Internet: www.hcb.co.mz
Established
1/7/05/1970
Registration
No.6456 Mozambique
Legal Form
Private Limited
Liability Company
Stock Listing
Not Listed
Workforce
2007
2,000
Office & Factories
Head offices Av Eduardo Mondlane, Tete, Mozambique
Branches (several) Manica-Chimoio, Maputo, Sofala-Beira
Company Profile
Paid in Capital MZM. 1,000,000,000
Subscribed Capital MZM. 1,000,000,000
Shareholders
Name Position No. of shares Ratio
Mr. F Coellho da Rocha Silva Chairman
Mr. Ramiro Pereira Director
Mr. J Freitas Director
Mr. Paulo Muxanga Director
Mr. Gildo Simbunde Director
Mr. Octavio
Muthemba Director
Government of Mozambique Shareholder 85.00%
Government of
Portugal Shareholder 15.00%
Total
100.00%
Credit Opinion
Our proposed
credit amount of USD 400,000 is recommendable
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr. F Coellho da Rocha Silva
Remarks Top Decision Maker
President/ CEO (2)
Name Mr. Paulo Muxanga
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
Generation of
Electricity power
Terms of payment
Buying terms
70% in cash, 30% on credit
Selling terms 50%
in cash, 50% on credit
Suppliers
ABB, General
Electric etc
Customers
ZESA,
ESKOM
Recent Sales
USD. 2,300,000,000 (2007)
Exports
Neighboring
Countries E.g South Africa
Export Ratio
50.0%
Import Ratio
50.0% (equipments)
Domestic Market Share
100.0%
Banking relationship
Main
Banks DBA Development Bank
BCI Foment
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 400,000 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.44.26 |
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UK Pound |
1 |
Rs.79.19 |
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Euro |
1 |
Rs.64.42 |
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%)