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Report Date : |
20.11.2012 |
IDENTIFICATION DETAILS
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Name : |
VAIMS COMPANY LTD |
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Registered Office : |
19-05
Makanyacls Kabwata |
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Country : |
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Date of Incorporation : |
28.09.2012 |
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Com. Reg. No.: |
105743 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
investment and property development company, dealers in
minerals such as copper, manganese, coal and also general traders |
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No. of Employees : |
10 employees |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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---- |
NB |
New Business |
---- |
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Status : |
New Business |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
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 |
Zambia - ECONOMIC OVERVIEW
Zambia's economy has experienced strong growth in recent years, with real GDP growth in 2005-11 more than 6% per year. Privatization of government-owned copper mines in the 1990s relieved the government from covering mammoth losses generated by the industry and greatly increased copper mining output and profitability to spur economic growth. Copper output has increased steadily since 2004, due to higher copper prices and foreign investment. In 2005, Zambia qualified for debt relief under the Highly Indebted Poor Country Initiative, consisting of approximately US$6 billion in debt relief. Poverty remains a significant problem in Zambia, despite a stronger economy. Zambia's dependency on copper makes it vulnerable to depressed commodity prices, but record high copper prices and a bumper maize crop in 2010 helped Zambia rebound quickly from the world economic slowdown that began in 2008. A high birth rate, relatively high HIV/AIDS burden, and market distorting agricultural policies have meant that Zambia's economic growth has not dramatically decreased the stubbornly high poverty rates.
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Source : CIA |
Registered Name: VAIMS COMPANY LTD
Requested Name: VAIMS
COMPANY LTD
Other Names: None
Physical Address: 19-05 Makanyacls Kabwata Lusaka
10101
Postal Address: P. o. Box 51474/38228
Lusaka,
Country: Zambia
Phone: 260-977826262/977425888/965140714
Fax: 260-965140714
Email: ithev@yahoo.com / israel.mulenga@yahoo.com / disachi66@aol.com/
Website: www.vaims.net
Projected Financial Index as of December 2013 shows subject firm with a
medium risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 28-Sept-2012
Reg. Number: 105743
Nominal Capital ZMK. 5,100,000
Subscribed Capital ZMK. 5,100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Valentine Mwape MD 1,700,000
Mr. Israel Mubanga
Mulenga Director 1,700,000
Mr. Samwel
Dingiswayo Director 1,700,000
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as an investment and property development company,
dealers in minerals such as copper, manganese, coal and also general traders
Imports: Asia,
Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Zambia
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Zambian Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 5181.17 Zambian Kwacha
Projected Fiscal
Year End: December 31, 2013
Projected
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Projected Profit and Loss (expressed in ZMK.)
2012
Projected Sales 2,000,000
Bank Name: Stanbic Bank
Branch: Zambia
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.54.97 |
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UK Pound |
1 |
Rs.87.50 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
|
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 |
|
<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.