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Report Date : |
09.10.2014 |
IDENTIFICATION DETAILS
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Name : |
PREBUILD |
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Registered Office : |
Estrada Kenguela Norte, Zona Industrial do Benfica, Lar Patriota, |
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Country : |
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Date of Incorporation : |
10.09.2001 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate
as a building and construction company |
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No. of Employees : |
200 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Angola |
B1 |
B1 |
|
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 |
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 |
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SUBJECT'S NAME |
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Registered Name: |
PREBUILD ANGOLA, LDA |
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Requested Name: |
PREBUILD ANGOLA |
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Other Names: |
PREBUILD ANGOLA |
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Physical Address: |
Estrada Kenguela Norte, Zona Industrial do Benfica, Lar Patriota, |
|
|
Luanda, |
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Country: |
Angola |
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Phone: |
244-929749665 |
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Fax: |
244-226430766 |
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Email: |
geral@prebuild.com |
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Website: |
www1.prebuild.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
10-Sept-2001 |
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Reg. Number: |
Angola |
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Nominal Capital |
AOA. 1,000,000 |
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Subscribed Capital |
AOA. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Manuel João Gama Leon |
Group
President |
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Mr. Alfredo Chaparro Muñoz |
Group CEO |
|
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Mr. Ricardo Queiroz |
Finance
Director |
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Mr. Martinho Gama Leon |
Director |
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Mrs. Maria Isabel Gama Leon |
Director |
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Mr. Clementino Joaquim |
Director |
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Mr. Gonçalo Mendes |
Director |
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Mr. Rui Alexandre Araujo Azevedo |
Director |
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Mr. Jorge Brandão |
Admin |
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Prebuild Pt - Investimentos Lda |
Holding
Co. |
100% |
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Prebuild Pt - Investimentos Lda |
Parent company. |
|
None |
Subsidiary company. |
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Various worldiwde |
Affiliated companies. |
|
None |
Shareholder of subject firm. |
|
None |
Branches of the firm |
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Registered to operate as a building and construction company |
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Imports: |
Asia, Europe |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices.& tenders |
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Main Customers: |
firms and organizations |
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Employees: |
200 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Angola |
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Location: |
Owned premises, 50,000 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: |
Angolan Kwanza (AOA.) |
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Approx. Ex. Rate: |
1 US Dollar = 98.18 Angolan Kwanza |
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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 AOA.) |
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2013 |
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Sales |
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2,224,670,000 |
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Bank Name: |
BAI BANK |
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Branch: |
Angola |
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Comments: |
None |
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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.61.35 |
|
|
1 |
Rs.98.71 |
|
Euro |
1 |
Rs.77.47 |
INFORMATION DETAILS
|
Analysis Done by
: |
RAS |
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Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
-- |
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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.