MIRA
INFORM REPORT
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Report Date : |
12.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
PETER N KABAI ENTERPRISES |
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Registered Office : |
35, Idumagbo Avenue, Lagos |
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Country : |
Nigeria |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Sales of Kerosene Stoves, Vacuum Flasks, Food Flasks, Water Cooler and
General Merchandise |
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 : |
No Complaints |
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Litigation : |
Clear |
IDENTIFICATION
COMPANY NAME :
PETER N KABAI ENTERPRISES
REGISTERED NAME :
PETER N KABAI ENTERPRISES
REGISTERED ADDRESS : 35,
Idumagbo Avenue, Lagos
HEAD OFFICE ADDRESS : 35,
Idumagbo Avenue, Lagos
TELEPHONE(S) :
234-1-2647507
Subject is into sales of kerosene stoves, vacuum flasks, food flasks,
water cooler and general merchandise
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 N123.83
to 1 US $.
SUMMARY
NATURE OF PREMISES :
Leased, office space at head office occupying approximately 100 square
metres.
LEGAL FORM :
Enterprise
PAID-UP CAPITAL :
Sole Proprietorship
STAFF STRENGHT :
about 7
OWNERSHIP/SHAREHOLDING
STRUCTURE
Mr. Peter Kabai
SHARE HOLDERS
(PREVIOUS)
Nil
DIRECTORS
Mr. Peter Kabai
MANAGEMENT PROFILE
Mr. Peter Kabai Managing Director
PARENT COMPANY
Nil
BRANCHES
Nil
BANKER
Name: First City
Monument Bank Plc.
Address: Nil
Account No: Nil
TRADE REFERENCES
Subject has both local and international Trade partners
PAYMENT REFERENCES
Subject has both local and international Payment References
PRODUCT DESCRIPTION
Vacuum Flasks *Kerosene Stoves *Food Flasks *Water Coolers etc
PERFORMANCE RANKING
* Quality of Management:
GOOD
* Ethics & Integrity: GOOD
* Ownership Structure:
FAIR
OPERATIONS
Subject is into sales of kerosene stoves, vacuums flasks, food flasks,
water cooler and general merchandise.
Subject is located in a central business area at 35, Idumagbo Avenue,
Lagos
TYPES OF CUSTOMERS
*General Public
BACKGROUND
Nil
EXPANSION PLAN
Nil
PRINCIPAL ANTECEDENT
Name: Mr.
Peter Kabai
Position: Managing
Director
Profession: Businessman
Nationality: Nigerian
PHYSICAL VISIT
Visits were made to the followings:
COMPANY PREMISES
CORPORATE AFFAIRS COMMISSION.
FINANCES
Subject’s Audited Account was not available as at the time of compiling
this report
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ASSESSMENT: |
AVERAGE Appears to have average ability to meet trading commitments |
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CREDIT LINE AMOUNT: |
FAIR |
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0CREDIT LINE OPINION: |
Transaction with subject is considered to be fair trade risk |
DIRECT INTERVIEW
NAME : Mr. Peter Kabai
POSITION : Managing
Director
According to Mr. Peter Kabai, the business is an enterprise and they
mainly deal in the sales of Vacuum Flasks as it was evidently observed when
visit was made by our team of Investigators.
The company has staff strength of about 7 people. The Managing Director
reliably informed us that the company is duly registered but refused to give
the date it was registered but promised to furnish us with necessary
information needed especially as much as the questionnaire supplied affords and
will be sent to our office as soon as possible.
INDUSTRIAL OVERVIEW/
OPERATING
ENVIRONMENT
Importation of goods is major business in Nigeria, in fact, prior to the
new civilian regime, this use to be the business for majority of businessmen
and women alike. Nevertheless, the story is slightly different now, as the
federal government has placed ban on the importation of certain goods into
Nigeria. However, for those who bring in goods that are not prohibited by the
Nigerian laws are having swell time in terms of turnover
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 on the ground floor of # 35 Idumagbo Avenue
Lagos Island. The entrance of the office is along Isale Agbede Street off
Idumagbo Avenue. The entire complex is a three storey building.
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, Peter N Kabai Enterprises is duly operating in Nigeria, with office
address, 35, Idumagbo Avenue, Lagos.
All information contained in this reports are from both primary and
secondary sources.
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. |
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%)