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Report Date : |
05.12.2012 |
IDENTIFICATION DETAILS
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Name : |
SHANI LDA |
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Registered Office : |
1032 Edwardo, |
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Country : |
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Date of Incorporation : |
12.04.2005 |
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Com. Reg. No.: |
19807 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
manufactures,
importers and Distributors of pharmaceutical products etc |
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No. of Employees : |
90 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Mozambique |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
mozambique - ECONOMIC OVERVIEW
At independence
in 1975, Mozambique was one of the world's poorest countries. Socialist
mismanagement and a brutal civil
war from 1977-92 exacerbated the situation. In 1987, the government embarked on
a series of macroeconomic reforms designed to stabilize the economy. These
steps, combined with donor assistance and with political stability since the
multi-party elections in 1994, have led to dramatic improvements in the
country's growth rate. Fiscal reforms, including the introduction of a
value-added tax and reform of the customs service, have improved the
government's revenue collection abilities. Inspite of these gains, Mozambique
remains dependent upon foreign assistance for more than half of its annual
budget, and in 2008 54% of the population remained below the poverty line.
Subsistence agriculture continues to employ the vast majority of the country's
work force and smallholder agricultural productivity and productivity growth is
weak. A substantial trade imbalance persists although the opening of the Mozal
aluminum smelter, the country's largest foreign investment project to date, has
increased export earnings. At the end of 2007, and after years of negotiations,
the government took over Portugal's majority share of the Cahora Bassa
Hydroelectricity Company (HCB), a dam that was not transferred to Mozambique at
independence because of the ensuing civil war and unpaid debts. More electrical
power capacity is needed for additional investment projects in titanium
extraction and processing and garment manufacturing that could further close
the import/export gap. Mozambique's once substantial foreign debt has been
reduced through forgiveness and rescheduling under the IMF's Heavily Indebted
Poor Countries (HIPC) and Enhanced HIPC initiatives, and is now at a manageable
level. In July 2007 the Millennium Challenge Corporation (MCC) signed a compact
with Mozambique; the compact entered into force in September 2008 and will
continue for five years. Compact projects will focus on improving sanitation,
roads, agriculture, and the business regulation environment in an effort to
spur economic growth in the four northern provinces of the country. Mozambique
grew at an average annual rate of 9% in the decade up to 2007, one of Africa's
strongest performances. However, heavy reliance on aluminum, which accounts for
about one-third of exports, subjects the economy to volatile international
prices. The sharp decline in aluminum prices during the global economic crisis
lowered GDP growth by several percentage points. Despite 6.8% GDP growth in
2010, the increasing cost of living prompted citizens to riot in September
2010, after fuel, water, electricity, and bread price increases were announced.
In an attempt to contain the cost of living, the government implemented
subsidies, decreased taxes and tariffs, and instituted other fiscal measures.
Real growth of 7.2% was achieved in 2011.
|
Source : CIA |
Registered Name: SHANI LDA
Requested Name: SHANI
LDA
Other Names: None
Physical Address: 1032
Edwardo, Maputo
Postal Address: Av. Eduardo Mondlane Nº 1032
Maputo
Country: Mozambique
Phone: 258-21300105/494549
Cell: 258-82-3095940/308241
Fax: 258-21308241
Email: shani@emilmoz.com
/ shanilda@tvcabo.co.mz
Website: None
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.
Legal Form: Limited Corporation
Date Incorporated: 12-April-2005
Reg. Number: 19807
Nominal Capital MZN. 50,000
Subscribed Capital MZN. 50,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Yunus Merali MD/ CEO 25,000
Mrs. Shamin Yuonus Merali Director 12,500
Mr. Murtaza Pyrali Mawji Director 12,500
Mr. Asgarali Gulamabbas
Hassamali Director
Mrs. Sade Ajayi Director
Mr. Soraya Nanla Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate manufactures, importers and Distributors of
pharmaceutical products etc
Imports: Asia,
Europe and South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 30 days (70%), invoices.
Main Customers: firms
and organizations
Employees: 90
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Mozambique
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Mozambique Metical (MZN.)
Approx. Ex. Rate: 1 US Dollar = 29.85 Mozambique 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 5,683,500 6,583,500
Bank Name: Banque International Of
Mozambique,
Branch: Avenue Samoramachel 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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.95 |
|
UK Pound |
1 |
Rs.88.42 |
|
Euro |
1 |
Rs.71.71 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
---- |
NB |
New Business |
---- |
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.