MIRA INFORM
REPORT
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Report Date : |
29.06.2011 |
IDENTIFICATION DETAILS
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Name : |
DINESH TRADING |
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Registered Office : |
Rua De Mercado 121 Municipal Nacala Porto, Nacala |
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Country : |
Mozambique |
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Date of Incorporation : |
20.06.2006 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
wholesaling and retailing of Ceramics’ and Granite tiles sanitary-ware, carpeting fabrics, acoustic ceilings, laminated flooring Bathroom Fittings, Fitted Kitchens, Suspended Ceilings, Building materials, wall to wall carpeting and Furnishing Fabrics. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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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 50,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
Unknown |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Mozambique |
c1 |
c1 |
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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 |
Bottom of Form
SUBJECT'S NAME
Registered Name: DINESH TRADING
Requested Name: DINESH
TRADING
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Rua
De Mercado 121 Municipal Nacala Porto, Nacala
Postal Address: Caix
Postal 62
Nacala
Country: Mozambique
Phone: 258-26526543
Fax: 258
26526890
Email: rassultradingnacala@yahoo.com/
rassultrading@hotmail.com
Website: None
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 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 20-Jun-2006
Reg. Number: Nacala
Porto
Nominal Capital MZM 50,000
Subscribed Capital MZM 50,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Momad Rassul Director
Mr. Justino Artur Vicente Director
Mr. Abdul Rahim Jusso Director
Grupo Abdul Rahim
Jusso Holding co 100%
RELATED COMPANIES
Grupo ARJ Abdul
Rahim Jusso Parent company.
None Subsidiary company.
Hotel Milenio
Hotel Nampula
New Hotel
Condominio
Millenium
Imobiliaria
Saidata
Shopping Zaim
Samir Centre Affiliated company.
None Shareholder of subject firm.
Napula Branches of the firm
OPERATIONS
Registered to operate wholesaling and retailing of Ceramics’ and Granite tiles sanitary-ware, carpeting fabrics, acoustic ceilings, laminated flooring Bathroom Fittings, Fitted Kitchens, Suspended Ceilings, Building materials, wall to wall carpeting and Furnishing Fabrics.
Imports: Asia
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
firms and
organizations
Main
Customers: 60 employees.
Employees: Several motor
vehicles.
Vehicles: Mozambique
Territory
of sales: Rented premises,
5.000 square feet,
Location: Asia
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Mozambique Meticais (MZN.)
Approx. Ex. Rate: 1 US Dollar = 32 Mozambique Meticais
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 Submitted
MZM
Profit and Loss (expressed in MZM)
2010
Sales 45,000,000
BANK
Bank Name: MCB Bank
Branch: Nampula
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.45.05 |
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UK Pound |
1 |
Rs.71.92 |
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Euro |
1 |
Rs.64.37 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.