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Report Date : |
16.01.2014 |
IDENTIFICATION DETAILS
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Name : |
MB INTERNATIONAL LTD |
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Registered Office : |
Plot
No. 10020 Mwembeshi Road, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
04.08.2002 |
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Com. Reg. No.: |
731794 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as a consultancy firm |
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No. of Employees : |
80 |
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) |
|
Zambia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
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.
|
Source : CIA |
Registered Name: MB INTERNATIONAL LTD
Requested Name: MB
INTERNATIONAL LTD
Trade Names: None
Physical Address: Plot No. 10020 Mwembeshi Road,
Lusaka
Postal Address: P. o. Box 33392/82
Lusaka,
Country: Zambia
Phone: 260-211-220731/220660
Fax: 260-211-220660
Email: None
Website: None
Financial Index as of December 2013 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-Aug-2002
Reg. Number: 731794
Nominal Capital ZMK. 10,000
Subscribed Capital ZMK. 10,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Zuneid Yousuf MD
Mr. E Chetan Director
Mr. S Anirudh Director
None Parent company.
AFRICAN TEXTILES (Z) LTD Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as a consultancy firm
Imports: Asia,
Middle East, South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices & tenders.
Main Customers: firms
and organizations
Employees: 80
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 = 5.51 Zambian Kwacha
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in ZMK.)
2013
Sales 10,500,000
Bank Name: BARCLAYS 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.61.59 |
|
|
1 |
Rs.101.09 |
|
Euro |
1 |
Rs.83.99 |
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 |
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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 |
|
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 |
|
-- |
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.