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Report No. : |
329208 |
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Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
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Name : |
AM TRADING LDA |
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Registered Office : |
Av. Do Trabelho, Nampula |
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Country : |
Mozambique |
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Date of Incorporation : |
12.05.2006 |
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Com. Reg. No.: |
400280878 |
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Legal Form : |
Limited Corporation |
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LINE OF BUSINESS : |
EXPORTERS OF AGRICULTURAL FOOD PRODUCTS SUCH AS SESAME
SEEDS, PEANUTS, RAW CASHEW NUTS. |
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No. of Employees : |
15 Employees |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Mozambique |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
MOZAMBIQUE - ECONOMIC OVERVIEW
At independence in 1975, Mozambique was one of the world's poorest
countries. Socialist mismanagement and a brutal civil war from 1977-92
exacerbated the situation. In 1987, the government embarked on a series of
macroeconomic reforms designed to stabilize the economy. These steps, combined
with donor assistance and with political stability since the multi-party
elections in 1994, propelled the country’s GDP from $4 billion in 1993,
following the war, to about $30.9 billion in 2014. Fiscal reforms, including
the introduction of a value-added tax and reform of the customs service, have
improved the government's revenue collection abilities. In spite of these
gains, more than half the population remains below the poverty line.
Subsistence agriculture continues to employ the vast majority of the country's
work force. A substantial trade imbalance persists although aluminum production
from the Mozal smelter has significantly boosted export earnings in recent
years. In 2012, The Mozambican government took over Portugal's last remaining
share in the Cahora Bassa Hydroelectricity Company (HCB), a significant
contributor to the Southern African Power Pool. The government has plans to
expand the Cahora Bassa Dam and build additional dams to increase its
electricity exports and fulfill the needs of its burgeoning domestic industries.
Mozambique's once substantial foreign debt has been reduced through forgiveness
and rescheduling under the IMF's Heavily Indebted Poor Countries (HIPC) and
Enhanced HIPC initiatives, and is now at a manageable level. In July 2007, the
US government's Millennium Challenge Corporation (MCC) signed a $506.9 million
Compact with Mozambique that ended in 2013. The Compact focused on improving
sanitation, roads, agriculture, and the business regulation environment in an
effort to spur economic growth in the four northern provinces of the country.
Citizens rioted in September 2010 after fuel, water, electricity, and bread
price increases were announced. In an attempt to lessen the negative impact on
the population, the government implemented subsidies, decreased taxes and
tariffs, and instituted other fiscal measures. Mozambique grew at an average
annual rate of 6%-8% in the decade up to 2014, one of Africa's strongest
performances. Mozambique's ability to attract large investment projects in
natural resources is expected to extend high growth rates in coming years.
Revenues from these vast resources, including natural gas, coal, titanium and
hydroelectric capacity, could overtake donor assistance within five years.
|
Source
: CIA |
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Registered Name: |
AM TRADING LDA |
|
Requested Name: |
AM TRADING LDA |
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Other Names: |
AGRO MOZAMBIQUE TRADING – AMT LDA |
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Physical Address: |
Av.
Do Trabelho |
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|
Nampula |
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Country: |
Mozambique |
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Phone: |
258-825402624 |
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Fax: |
258-847481540 |
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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: |
12-May-2006 |
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Reg. Number: |
400280878 |
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Nominal Capital |
MZN.
100,000 |
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Subscribed Capital |
MZN.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Mahesh Patel |
Manager |
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AM Trading India |
Holding
Co. |
100% |
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AM Trading India |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
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Registered to operate as
exporters of agricultural food products such as sesame seeds, peanuts, raw
cashew nuts. |
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Imports: |
Asia |
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Exports: |
Europe |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
Local agencies, distributors, stores etc |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Mozambique |
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Location: |
Rented premises, 10,000 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: |
Mozambique Meticais (MZN.) |
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Approx. Ex. Rate: |
1 US Dollar = 38.58
Mozambique Meticais |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in MZN.) |
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2014 |
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Sales |
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35,000,000 |
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Bank Name: |
International
Commercial Bank |
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Branch: |
Mozambique |
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Comments: |
None |
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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.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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|
|
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Report Prepared
by : |
NIT |
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 |
|
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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.