MIRA
INFORM REPORT
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Report Date : |
01.11.2011 |
IDENTIFICATION DETAILS
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Name : |
CAPITAL FISHERIES LTD |
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Registered Office : |
Plot 6981 Katanga Road (Off Mungwi Road), Light Industrial Area, P.o. Box 34630 Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
12.05.1999 |
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Com. Reg. No.: |
42676. Zambia |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distribution and supply
of sea food products such as fish 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Zambia |
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: CAPITAL FISHERIES LTD
Requested Name: CAPITAL
FISHERIES
Other Names: CAPITAL
FISHERIES ZAMBIA LTD
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot 6981 Katanga Road (Off Mungwi
Road), Light Industrial Area, Lusaka
Postal Address: P.o. Box 34630
Lusaka,
Country: Zambia
Phone: 260-966801106/966752971/966767059/966623717/1
286140
Fax: 260-1286140
Email: capfish@zamtel.zm/
jason@capitalfisheries.com
Website: www.capitalfisheries.com
CREDIT OPINION
Financial Index as of December 2010 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days. If we do not
provide an amount, then your maximum limit will suffice.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 12/05/1999
Reg. Number: 42676.
Zambia
Nominal Capital ZMK. 80,000,000
Subscribed Capital ZMK. 80,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Chance Kabaghe Director
Mr. Damian Roberts Director
Mr. Gavin Thomas Director
Mr. Peter Thomas Director
Mr. Ajay Kumar Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Distribution and supply of sea food products such
as fish etc
Imports: None
Exports: ASia
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 200
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Zambia
Location: Owned
premises, 25.000 square feet,
AUDITORS AND INSURANCE
Auditors: BDO Spencer Steward Corporate Services
Insurance Brokers: Alexander Forbes
Advocates: Wilson and Cornhill and Advocates
FINANCE
Currency Reported: Zambia Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 5,000 Zambia 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 Submitted
Profit and Loss (expressed in ZMK.)
2010
Sales 36,400,000,000
BANK
Bank Name: Cavemomt Capital Bank limited
Others Stanbic
Bank Zambia limited
Atrifiin Banking Corp
Zambia limited
Comments: Good
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.48.87 |
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1 |
Rs.78.11 |
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Euro |
1 |
Rs.68.36 |
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.