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Report Date : |
05.07.2014 |
IDENTIFICATION DETAILS
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Name : |
LONGWALK ZAMBIA LTD |
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Registered Office : |
131/108 Barastone Park, Lusaka |
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Country : |
Zambia |
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Date of Incorporation : |
23.08.2011 |
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Com. Reg. No.: |
94950 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject
operate as a general trader dealing with FMCG products, and also provides management
and consultancy services as well as solutions such as IT products |
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No of Employees : |
30 |
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 – March 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Zambia |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
zambia ECONOMIC OVERVIEW
Zambia's economy has experienced strong growth in recent years, with
real GDP growth in 2005-13 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. 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. Regulatory
changes by the current government in 2012-2013 included Statutory Instruments
(SI) Number 33 (mandating use of the kwacha for domestic transactions) and SI
Number 55 (monitoring foreign exchange transactions). Along with problems of
fiscal management and weakening global copper prices, these SI's were perceived
as undermining confidence in Zambia's economy and currency, leading to sharp
depreciation of the kwacha in March 2014. In response, the Minister of Finance
revoked SI 33 and 55 in late March 2014. Despite a strong economy, poverty
remains a significant problem in Zambia, made worse by a high birth rate,
relatively high HIV/AIDS burden, and by market distorting agricultural
policies.
|
Source
: CIA |
Registered Name: LONGWALK ZAMBIA LTD
Requested Name: LONG
WALK ZAMBIA
Other Names: None
Physical Address: 131/108 Barastone Park,
Lusaka
Country: Zambia
Phone: 260-21-2656561
Fax: 260-21-2656561
Email: None
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 23-Aug-2011
Started: 04-Feb-2012
Reg. Number: 94950
Nominal Capital ZMW. 5,000
Subscribed Capital ZMW. 5,000
Subscribed Capital
is Subscribed in the following form:
Position
Mr. Santosh Saude Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as a general trader dealing with FMCG products,
and also provides management and consultancy services as well as solutions such
as IT products
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Public,
firms and organizations
Employees: 30
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 (ZMW.)
Approx. Ex. Rate: 1 US Dollar = 6.23 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 ZMW.)
2013
Sales 2,850,000
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.
Zambian's
currency has been redominated. 1000 Kwacha now will be 1 Kwacha. The currency
code for the Zambian Kwacha has changed from ZMK to ZMW.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.79 |
|
|
1 |
Rs.102.66 |
|
Euro |
1 |
Rs.81.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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.