MIRA INFORM
REPORT
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Report Date : |
04.04.2012 |
IDENTIFICATION DETAILS
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Name : |
COGEF TRADING LDA |
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Registered Office : |
AV Fplm
no. 14AH 866, |
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Country : |
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Date of Incorporation : |
01.07.2004 |
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Com. Reg. No.: |
19996 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in general
merchandise mainly FMCG |
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No. of Employees
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400 |
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 : |
Good |
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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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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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 |
Registered Name: COGEF TRADING LDA
Requested Name: COGEF
TRADING LDA
Other Names: None
Physical Address: AV Fplm
no. 14AH 866, Maputo,
Postal Address: AV Fplm
no. 14AH 866,
Maputo,
Country: Mozambique
Phone: 258-825912664/-21328518
Fax: 258-21328517
Email: info@cogefgroup.com
Website: www.cogefgroup.com
Financial
Index as of December 2011 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 100,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 1-July-2004
Reg. Number: 19996
Nominal Capital MZN. 2,500,000
Subscribed Capital MZN. 2,500,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Resnoz Nuruddin Adatia CEO
Mrs. Salma Resnoz Adatia Director
Mr. Nikunj Dilipbhai Dave Director
COGEF GROUP Holding Co. 100%
COGEF GROUP Parent company.
None Subsidiary company.
RECHEIO CASH & CARRY,
SAB PRODUCTS,
ALI COMMERCIAL,
JUMBO CITY CASH &
CARRY,
PRIM INDUSTRIES,
ROYELLE STEEL INDUSTRIES,
AZEEMA INDUSTRIES,
A-ONE DISTRIBUTORS,
COGEF MULTI NEGOCIOS. Affiliated company.
None Shareholder of subject firm.
Sofala, Tete, Inhambane, Cabo Delgado and Gaza in Mozambique Branches of the firm
Registered to operate as dealers in general merchandise mainly FMCG
Imports: Middle
East, Asia, Europe
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 400
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mozambique
Location: Leased
premises, 2,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: New Mozambican Metical (MZN.)
Approx. Ex. Rate: 1 US Dollar = 28.09 New Mozambican Metical
Fiscal
Year End: December 31, 2011
Inflation: According to information
given by independent sources, the
inflation
at December 31st, 2011 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in MZN.)
2010 2011
Sales 12,800,000 13,080,000
Bank Name: Standard Bank
Branch: Maputo, Mozambique
Comments: None
Experiences: Good
None
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.50.56 |
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UK Pound |
1 |
Rs.81.05 |
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Euro |
1 |
Rs.67.49 |
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.