MIRA
INFORM REPORT
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Report Date : |
20.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
S. S. TEXTILE LIMITED |
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Registered Office : |
17C, Kantin Kwari Market, Kano State |
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Country : |
Nigeria |
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Date of Incorporation : |
14th July 1999 |
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Com. Reg. No.: |
RC: 360600 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is into textile 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 |
IDENTIFICATION
COMPANY NAME: S. S. TEXTILE LIMITED
REGISTERED NAME: S. S. TEXTILE LIMITED
REGISTERED ADDRESS: 17C, Kantin Kwari Market, Kano State
HEAD OFFICE ADDRESS: 17C, Kantin Kwari Market, Kano State
TELEPHONE(S): Nil
FAX: Nil
E-MAIL: Nil
POSTAL ADDRESS: P.
O. Box 127, Kano State
Subject is into textile products.
In Nigeria subject is considered
to be a medium scale concern in this sector.
Currency: All monetary values in this report are in Nigerian
Naira, the local currency, except otherwise stated. The exchange rate is N130
to 1 US $.
SUMMARY
NATURE OF PREMISES: Leased, office space at head office
occupying approximately 500 square metres.
DATE
INCORPORATED: 14th July
1999
YEAR
BEGAN OPERATION: 1999
LEGAL
FORM:
Private Limited Company
REGISTRATION
NO: RC: 360600
SHARE
CAPITAL: N2, 000, 000.00
ALLOTTED
SHARE CAPITAL: N2, 000,
000.00
PAID-UP
CAPITAL N2,
000, 000.00
AUDITORS: Nil
SOLICITORS: Nil
COMPANY
SECRETARY: Nil
STAFF
STRENGHT: 50
OWNERSHIP/SHAREHOLDING
STRUCTURE
Name
%Held
Mohammed S. A. Shakoor 55
17C, Kantin Kwari Market
Kano State
Sani Saidu Koki (Alhaji) 15
7A, 200 Road, Housing Estate
Kano State
Nasir Hussain (Alhaji) 15
17C, Kantin Kwari Market
Kano State
Mohammed S. Saleem 15
17C, Kantin Kwari Market
Kano State
SHARE HOLDERS
(PREVIOUS)
Nil
DIRECTORS
1. Mohammed S. A. Shakoor
2. Sani Saidu Koki (Alhaji)
3. Nasir Hussain (Alhaji)
4. Mohammed S. Saleem
MANAGEMENT PROFILE
Mohammed S. A. Shakoor Managing Director/CEO
Sani Saidu Koki (Alhaji)
Executive Director
Mr. Nasir Hussain (Alhaji)
Executive Director
Mr. Mohammed S. Saleem Executive Director
RELATED COMPANY
Nil
BRANCHES
Nil
BANKER
Nil
TRADE REFERENCES
Nil
PAYMENT REFERENCE
Local and Foreign Companies
PRODUCT DESCRIPTION
Textile Products.
PERFORMANCE RANKING
* Quality of Management: AVERAGE
* Ethics & Integrity: GOOD
* Ownership Structure: GOOD
OPERATIONS
Subject is into textile products
Subject is located in a central business area at 17C, Kantin Kwari Market, Kano State
PARTNERS
Nil
TYPES OF CUSTOMERS
*General Public, Group of Companies and Foreign Companies
BACKGROUND
Nil
EXPANSION PLAN
Nil
PRINCIPAL ANTECEDENT
NAME: Mohammed
S. A. Shakoor
POSITION: Managing
Director/CEO
PROFESSION: Nil
EDUCATION & QUALIFICATION: Nil
WORK HISTORY: Nil
PHYSICAL VISIT
Visits were made to the followings:
COMPANY PREMISES
CORPORATE AFFAIRS COMMISSION.
FINANCES
Subject audited accounts were not available as at the time of compiling this report. Therefore, its present financial position could not be ascertained.
DIRECT INTERVIEW
No principal of subject was available for interview as at the time of compiling this report. Therefore, all information in this report was culled from public sources.
INDUSTRIAL OVERVIEW/
OPERATING
ENVIRONMENT
The most prominent agro-based industry in Nigeria is the textile industry. The industry has strong associations for employers and employees. The changes or recession in the industry have been rapid and devastating, the physical picture, more than the statistics, depicts more the realities. The industry depends principally on local produced cotton. Therefore, if the textile industries can satisfy the Nation’s demand. The industry would have a better look. As most Nigerians now prefer the local wears.
CMT REPORT
(Corruption, Money
Laundering &
Terrorism)
Public Notice from various sources including but not limited
to: The Courts, Nigerian Prison Service, Economic & Financial Crimes
Commission (EFCC), National Drug Law Enforcement Agency (NDLEA), National
Agency for Food & Drugs administration and Control (NAFDAC), Independent
Corrupt Practices and Other Related Offences Commission (ICPC) Etc.
No negative information on subject from the above agencies as at the time of compiling this report.
COMPANY LOCATION
The company is located at 17C, Kantin Kwari Market, Kano State
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, S. S. Textile Limited is
duly registered in Nigeria, with a registered address, 17C,
Kantin Kwari Market, Kano State. The operational office address is same as the
registered address.
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%)