MIRA INFORM
REPORT
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Report Date : |
24.02.2011 |
IDENTIFICATION DETAILS
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Name : |
FURNACE FABRICA COMPANY |
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Registered Office : |
Plot 539, |
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Country : |
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Date of Incorporation : |
08.02.2005 |
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Com. Reg. No.: |
63671 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Providers of engineering and mining contracting services and related
solutions |
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 80,000 |
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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 – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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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: FURNACE FABRICA COMPANY
Requested Name: FURNACE
FABRICA COMPANY
Other Names: FURNACE
FABRICA CO. ZAMBIA LTD.
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot
539,
Postal Address:
Chingola,
Country:
Phone: 260-2350701
Fax: 260-2350701
Email: manoharan@microlink.zm
Website: www.furnacefabrica.com
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 80,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 8/02/2005
Reg. Number: 63671
Nominal Capital ZMK. 10,000,000
Subscribed Capital ZMK. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Dr. Badri Prasad Group MD
Shiv Charan GM
Furnace Fabrica (
RELATED COMPANIES
Furnace Fabrica (
None Subsidiary company.
Petro Energy Contracting Services. Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate providers of engineering and mining contracting
services and related solutions
Imports: Asia and
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 30 employees.
Vehicles: Several motor
vehicles.
Territory
of sales:
Location: Rented premises,
5.000 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 = 4747.57 Zambian Kwacha
Fiscal
Year End: December 31, 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 ZMK.)
2010
Sales 20,000,000,000
BANK
Bank Name: Indo Zambian Bank Ltd
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.45.20 |
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1 |
Rs.73.17 |
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Euro |
1 |
Rs.61.88 |
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.