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Report Date : |
07.05.2014 |
IDENTIFICATION DETAILS
|
Name : |
SOCIEDADE
COMERCIAL AGRO-INSTRIAL CATINDA LDA. |
|
|
|
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Registered Office : |
Fazenda Catinda Rua Comandante
Valódia, N°13-A Luanda |
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Country : |
Angola |
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Year of Establishment : |
2009 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers in agricultural products, equipment’s and facilities |
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No of Employees : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
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) |
|
Angola |
B1 |
B1 |
|
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 |
Angola ECONOMIC OVERVIEW
Angola's high growth rate in
recent years was driven by high international prices for its oil. Angola became
a member of OPEC in late 2006 and its current assigned a production quota of
1.65 million barrels a day (bbl/day). Oil production and its supporting
activities contribute about 85% of GDP. Diamond exports contribute an
additional 5%. Subsistence agriculture provides the main livelihood for most of
the people, but half of the country's food is still imported. Increased oil
production supported growth averaging more than 17% per year from 2004 to 2008.
A postwar reconstruction boom and resettlement of displaced persons has led to
high rates of growth in construction and agriculture as well. Much of the
country's infrastructure is still damaged or undeveloped from the 27-year-long
civil war. Land mines left from the war still mar the countryside, even though peace
was established after the death of rebel leader Jonas SAVIMBI in February 2002.
Since 2005, the government has used billions of dollars in credit lines from
China, Brazil, Portugal, Germany, Spain, and the EU to rebuild Angola's public
infrastructure. The global recession that started in 2008 temporarily stalled
economic growth. Lower prices for oil and diamonds during the global recession
slowed GDP growth to 2.4% in 2009, and many construction projects stopped
because Luanda accrued $9 billion in arrears to foreign construction companies
when government revenue fell in 2008 and 2009. Angola abandoned its currency
peg in 2009, and in November 2009 signed onto an IMF Stand-By Arrangement loan
of $1.4 billion to rebuild international reserves. Consumer inflation declined
from 325% in 2000 to about 10% in 2012. Higher oil prices have helped Angola
turn a budget deficit of 8.6% of GDP in 2009 into an surplus of 12% of GDP in
2012. Corruption, especially in the extractive sectors, also is a major
challenge.
|
Source
: CIA |
Registered Name: SOCIEDADE COMERCIAL AGRO-INSTRIAL CATINDA
LDA.
Requested Name: SOCIEDADE
COMERCIAL AGRO-INSTRIAL CATINDA LDA.
Other Names: None
Physical Address: Fazenda Catinda Rua Comandante
Valódia, N°13-A Luanda
Postal Address: Rua Comdt Nzage
Luanda,
Country: Angola
Phone: 244-222-448183
Fax: 244-222-448183
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: 2009
Reg. Number: Angola
Nominal Capital AOA. 1,000,000
Subscribed Capital AOA. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Gerson-Fazenda
Catin Monteiro Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in agricultural products, equipment’s
and facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, firms and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Angola
Location: Rented
premises, 1,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Angolan Kwanza (AOA.)
Approx. Ex. Rate: 1 US Dollar = 97.87 Angolan Kwanza
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 AOA.)
2013
Sales 85,000,000
Bank Name: Novo Banco
Branch: Angola
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.60.20 |
|
|
1 |
Rs.101.68 |
|
Euro |
1 |
Rs.83.55 |
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.