MIRA
INFORM REPORT
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Report Date : |
13th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
FREE
JOE INTERNATIONAL LIMITED |
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Registered Office : |
Bd Jean Paul 2, Nukafu, P.O. Box: 4462, Lome, Togo |
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Country : |
Togo |
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Date of Incorporation : |
2005 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and exporters of scrap
metal. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |
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Status : |
New
Company |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
COmpany NAME
FREE JOE INTERNATIONAL LTD
ADDRESS
Street : Bd Jean Paul 2
Area : Nukafu
P.O. Box : 4462
Town : Lome
Country : Togo
Telephone : (228) 910 3627
Fax :
(228) 226 7517
E-Mail :
freejoe-international@yahoo.com
SENIOR COMPANY PERSONNEL
Name Position
Morgan Eze
Managing Director
Total Employees : 21
PAYMENTS
Current trade experience of payments has not been traced.
Subject was established in 2005.
Opinion on maximum credit :
As the company has recently started trading and has no financial
or payment track record, we recommend dealing on fully secured terms.
Trade risk assessment : High
It is normal accepted practice for international suppliers to deal
on secured terms with Togo importers
PRINCIPAL BANKERS
NAME : ECOBANK
Branch : 20, Rue du Commerce
P.O. Box : 3302
Town : Lome
Telephone : (228)
221 72 14
Fax : (228) 221 42 37
FINANCIAL INFORMATION
Balance sheets are not available and the subject interviewed
declined to give any financial information, which the company regards as
strictly confidential.
LEGAL STATUS AND HISTORY
Date Started : 2005
Capital : not
given
Societe a Responsibilite Limitee (limited liability company) with
the following shareholders :
Details of subject's shareholders could not be obtained from the
Companies Registry and the subject interviewed was uncooperative on the matter.
Affiliated companies of Free Joe International Ltd :
Associates
Two unnamed companies in Ghana (producer of coco powder) and Gabon
(trading in timber)
ACTIVITIES
The Company is involved in the following activities :
Trading as importers and exporters of scrap metal.
Imports from Ghana.
FACILITIES
The Company has the following facilities :
Owned premises comprising offices and warehouse located at the
heading address.
Subject also operates a shoe shop in Lome.
SPECIAL NOTE
You indicated that subject's banker is HFC Bank Ghana Ltd. Please
note the correct details are as per "Principal Bankers" Section.
RATING EXPLANATIONS
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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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |