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Report Date : |
24.07.2013 |
IDENTIFICATION DETAILS
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Name : |
TRADE KINGS ZAMBIA PTY LTD |
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Registered Office : |
Plot No. 20414 Nampundwe Road Off
Mumbwa Road Light Area, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
04.06.1992 |
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Com. Reg. No.: |
25439 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in general merchandise such as food products, beverages, electronics, electrical, household products, sweets & confectionaries. |
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No. of Employees : |
210 |
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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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 – March 31st 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Zambia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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
2005-12 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. Zambia has made some strides to
improve the ease of doing business. 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
rate.
|
Source : CIA |
Registered Name: TRADE KINGS ZAMBIA PTY LTD
Requested Name: TRADE
KINGS LIMITED
Other Names: None
Physical Address: Plot No. 20414 Nampundwe Road
Off Mumbwa Road Light Area, Lusaka,
Postal Address: P. o. Box 30824
Lusaka,
Country: Zambia
Phone: 260-211-289735/286127/286117/289743/700236
Fax: 260-211-288856
Email: tradekings@yahoo.com
/ info@tkingsgroup.com/
Website: www.tradekings.4t.com
Financial Index as of December 2012 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: 4-June-1992
Reg. Number: 25439
Nominal Capital ZMK. 10,000,000
Subscribed Capital ZMK. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Iqbal Mohamed Patel CEO 25%
Mr. Khalid Mohamed Director 30%
Mr. Ayub Adam Director 15%
Mr. Mohamed Arif Patel Director 15%
Mr. Zunaid Patel Director 15%
Mr. Bright Chunga Director
None Parent company.
Various in Zambia Subsidiary company.
Universal Mining And
Chemical Industries Ltd,
Trade Kings South Africa (PTY) Ltd,
Strysham Investments,
Pakeezah
Investments. Affiliated company.
None Shareholder of subject firm.
Ndola in Zambia Branches of the firm
Registered to operate as dealers in general merchandise such as food products, beverages, electronics, electrical, household products, sweets & confectionaries.
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores, outlets etc
Employees: 210
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Zambia
Location: Owned premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Zambian Kwacha (ZMK.)
Approx. Ex. Rate: 1 US Dollar = 5477.07 Zambian Kwacha
Fiscal
Year End: December 31, 2012
Inflation: According to information
given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in ZMK.)
2011 2012
Sales 168,027,000,000 170,000,000,000
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.59.69 |
|
UK Pound |
1 |
Rs.91.66 |
|
Euro |
1 |
Rs.78.69 |
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 |
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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 |
|
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 |
---- |
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.