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Report Date : |
08.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MATCH CORPORATION LIMITED |
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Registered Office : |
Plot
No.1320, |
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Country : |
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Date of Incorporation : |
02.01.2004 |
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Com. Reg. No.: |
10900 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Suppliers of matches and ferrosilicon and also metal fabricating and engineering
services and solutions |
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No. of Employees : |
65 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
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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 |
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.
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Source
: CIA |
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Registered Name: |
MATCH
CORPORATION LIMITED |
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Requested Name: |
MATCH CORPORATION LIMITED |
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Other Names: |
None |
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Physical Address: |
Plot
No.1320, Cha Cha Cha Road, Luanshya, |
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Postal Address: |
P.
o. Box 90108, |
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Luanshya, |
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Country: |
Zambia |
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Phone: |
260-21-2510536/2510858/2510984/2512561/242416 |
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Fax: |
260-21-2510984/2247387 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
2-Jan-2004 |
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Reg. Number: |
10900 |
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Nominal Capital |
ZMK.
10,000 |
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Subscribed Capital |
ZMK.
10,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Anil Wadhavkar |
MD |
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Mr. M. Fidel |
Director |
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Mr. H. Ilunga |
Manager |
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Mr. Crispin Nyanda |
Manager |
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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Box 31158 Lusaka, Zambia |
Branches of the firm |
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Registered to operate as manufacturers
and suppliers of matches and ferrosilicon and also metal fabricating and
engineering services and solutions |
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Imports: |
Asia, Middle East |
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Exports: |
South Africa, Zimbabwe, UK and Australia |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
Distributors, firms and organizations |
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Employees: |
65 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Zambia |
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Location: |
Owned premises, 100,000 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Zambian Kwacha (ZMK.) |
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Approx. Ex. Rate: |
1 US Dollar = 5.53
Zambian Kwacha |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in ZMK.) |
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2012 |
2013 |
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Sales |
17,850,000 |
18,000,000 |
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Bank Name: |
ZNB Bank |
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Branch: |
Zambia |
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Comments: |
Other Banks |
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Development Bank |
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Experiences: |
Good |
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None
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. The Zambian Kwacha underwent
a currency revaluation. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.38 |
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|
1 |
Rs.102.25 |
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Euro |
1 |
Rs.84.97 |
INFORMATION DETAILS
|
Report Prepared
by : |
NNA |
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 |
---- |
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.