MIRA
INFORM REPORT
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Report Date : |
20.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
ELECTRICIDADE
DE MOCAMBIQUE EP |
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Registered Office : |
PO Box 2447 Maputo |
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Country : |
Mozambique |
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Date of Incorporation : |
6.02.1977 |
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Com. Reg. No.: |
25178 Mozambique |
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Legal Form : |
State-Owned Company |
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Line of Business : |
Generation and Distributors of Electricity and 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 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
ELECTRICIDADE DE
MOCAMBIQUE EP
Other Name EDM
Principal Address
PO Box 2447 Maputo Mozambique
Telephone: +258-21-490636
Fax: +258-21-491048
Email: asousa@edm.co.mz
Internet: www.edm.co.mz
summary
Established: 6/02/1977
Registration: No. 25178 Mozambique
Legal Form: State-owned
Company
Stock Listing: Not Listed
Workforce
2007
200
Office & Factories
Head offices Avenue Agostinho Neto n. 70, Maputo,
Mozambique
Branches 15 Several major towns in Mozambique
Company Profile
Paid in Capital MZM. 100,000,000
Subscribed Capital MZM. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Manuel Cuambe CEO
Mr. Carlos Yum Director
Government of
Mozambique Shareholders 100.00%
Total 100.00%
Credit Opinion
Our proposed
credit amount of USD 150,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Manuel Cuambe |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Carlos Yum |
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 &
Distributors of electricity and Power
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
Various
Customers
Public
Recent Sales
USD. 240,000,000,000
(2007)
Exports
Africa
Export Ratio
20.0%
Import Ratio
60.0%
Domestic Market Share
40.0%
Banking relationship
Main Banks Banco
Internacional De Mozambique Sarl
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.
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2006 |
2005 |
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Sales |
3,228,556,702 |
2,749,201,523 |
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Net Income |
(70,182,689) |
(155,224,730) |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.46.32 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.65.90 |
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%)