MIRA INFORM
REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
KONKOLA COPPER MINES PLC |
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Registered Office : |
Stand No M/1408, |
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Country : |
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Financials (as on) : |
31.03.2009 (Consolidated) |
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Date of Incorporation : |
10.11.1999 |
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Com. Reg. No.: |
43628 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
mining of copper
and other metals 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 500,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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b2 |
b2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT'S
NAME
Registered Name: KONKOLA COPPER MINES PLC
Requested Name: KONKOLA COPPER MINES PLC
Other Names: None
ADDRESS
AND TELECOMMUNICATION
Physical Address: Stand
No M/1408,
Postal Address: Private
Bag KCM, 2000
Chingola
Country:
Phone: 260-2-350001/350000
Fax: 260-2-351234/350000
Email: augustine.seyuba@kcm.co.zm
Website: www.kcm.co.zm
CREDIT
OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. However, bank
and credit information obtained reveal a history of prompt payments. We
recommend Credit of USD 500,000 on 90 days.
We recommend the amount you requested R6000000 and the reason is they
are good for the requested amount.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 10-Nov-1999
Reg. Number: 43628
Nominal Capital ZMK. 300,000,001
Subscribed Capital ZMK. 300,000,001
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Chandra Prakashi Baid MD
Ms. Deborah Annie Bwalya Director
Dr. Mbikusita Lewanika Director
Mr. George Katuta Chibuye Director
Mr. Joseph Mwansa Chikolwa Director
Mr. Leonard Nkhata Director
Mr. Napoleon Mayer Director
Mr. Steven Goergala Director
Mr. Thomas D Kamwendo Director
Mr. Zik Zekko Director
Vedanta Resources plc,
Zambia Copper Investments Ltd,
ZCCM Investments Holdings Plc,
GRZ Shareholder Golden Share
RELATED
COMPANIES
Vedanta Resources plc,
Copper Flash Smelting Plant,
Konkola Deep Copper-Mine Project (KDMP) Subsidiary company.
Bharat Aluminium Company Ltd,
Copper Mines Of
Hindustan Zinc Ltd,
Madras Aluminium Co. Ltd,
Sterlite Industries Ltd Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate mining of copper and other metals etc
Imports:
Exports:
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Industries
& Companies
Employees: 9,400
employees
Vehicles: More
than 40
Territory of
sales:
Location: Rented/
Owned premises, 2.000 square feet,
AUDITORS
AND INSURANCE
Auditors: KPMG
Insurance Brokers: AIG
Assurance
FINANCE
Currency Reported: Zambian Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 4700 Zambian Kwacha
Fiscal Year End: April
1, 2010
Inflation: According
to information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial Information Not Submitted
Profit and Loss (expressed in USD.)
USD 2010
Sales Estimated
171,786,860
BANK
Bank Name: Citi Bank or Indo
Account Number: 000 000 111 0012(Indo
Enquiry Amount: R6000000
Terms: 30days
Comments: Good
Other Bank Development Bank of
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.44.22 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.