MIRA
INFORM REPORT
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Report Date : |
13.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
MINTECH SERVICES LIMITED |
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Registered Office : |
HQ 5 Ablash Link East Legon, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
13.02.1995 |
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Com. Reg. No.: |
C60,090 |
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Legal Form : |
Private Limited Liability company |
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Line of Business : |
Supplies of Safety Equipment, sourcing of commercial and Commodity
products |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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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 : |
Regular |
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Litigation : |
Clear |
Name
Mintech Services Limited
Address
HQ 5 Ablash Link East Legon, Accra-Ghana
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Telephone:23321 507746. Mobile: 233244319937
Fax: 233-21 507773
Email : kwame_adu@4u.com.gh
Date of
Incorporation
13th February, 1995
Rc No
C60,090
Share Capital
cedi 1000,000
Legal Form
Private Limited Liability Company
Managing Director
Mr Kwame Adu
Line of Business
supplies of Safety Equipment,sourcing of commercial and Commodity products
Products
Safety Equipment
Number of Employee
Six
Business RISKS
Subjects Business Environment Presently, Ghanaian economy is improving with the higher capacity utilization in industries and low inflationary trends and there are influxes of foreign investors into the country.
Nature
of subject Business
Mintech Services Limited has been in the business of selling ofSafety Equipment since 1995 in Accra, Ghana
Subject and its
industry
Subject is a major and Viable player within the industry. The industry is dominated by foreign companies
Cash Flow
and Profitability
Despite our visit to subject office Financial Business information was not provided
Market Coverage
Mintech Services Limited covers the entire Ghana
Directors: Alloted Shares
Mr Fred Quayemdrtey 300,000
Mr Kwame Adu 700,000
Competitors
Betcy Ghana Ltd
Hois Services Ltd
Tuns Ghana Ltd
E&G services Ltd
Economic
Trend
2007
Foreign Exchange Rate to US Dollar CEDI 9,400
Interest Rate ( Lending ) 14.5 percent
Financial
Information
Finanacial Information was not provided despite our visit to subject office
Banker
Pro Credit Bank Ltd
Stock MARKET
share Movement
Subject is a private Limited Liability Company, its shares are not quoted on the floor of Ghana Stock Exchange
CONCLUSION AND
RECOMMENDATION
Mintech Services Limited was incorporated in Ghana as a private Limited liability company. it is a going concern business.
We recommend for normal business relationship.
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 |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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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%)