MIRA
INFORM REPORT
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Report Date : |
20th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SPECIALTY OIL COMPANY NIGERIA LIMITED |
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Registered Office : |
Plot 10 and 12, Niger Bridge Industrial
Layout, Onitsha, Anambra State |
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Country : |
Nigeria |
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Date of Incorporation : |
11.02.1999 |
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Com. Reg. No.: |
RC: 350040 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engages in oil and gas services. Subject is also into oil
marketing and advertisement. |
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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Maximum Credit Limit : |
USD 150, 000. 00 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY EVALUATION
Apparently healthy, with adequate working capital to meet normal
commitments
CONDITION: GOOD
TREND: UP
AVREAGE CREDIT (USD):
150, 000. 00
PAYMENTS: NO COMPLAINTS
IDENTIFICATION
COMPANY NAME : SPECIALTY OIL COMPANY NIGERIA LIMITED
REGISTERED NAME : SPECIALTY OIL SERVICESLIMITED
REGISTERED ADDRESS : Plot 10 and 12, Niger Bridge Industrial Layout, Onitsha, Anambra State
HEAD OFFICE ADDRESS : Plot IN/162, Niger Bridge Head, Onitsha, Anambra State
TELEPHONE(S) : 234-46-218008
FAX : 234-46-218008
PRIMARY CONTACT : Mr. Chukwudozie Daniel (Managing Director/CEO)
Subject is into oil and gas services. Subject is also into oil
marketing and advertisement.
In Nigeria subject is considered to be a medium concern in this
sector
Currency: All monetary quoted in
this report are in Nigerian Naira, the local currency or unless otherwise
stated. The exchange rate is N130 to 1 US $
SUMMARY
NATURE OF PREMISES : Rented office space at head office occupying approximately 350
Square meters.
DATE INCORPORATED : 11th February 1999
YEAR BEGAN OPERATION : 1999
LEGAL FORM : Private Limited Company
REGISTRATION NO : RC: 350040
SHARE
CAPITAL : N1, 000,000.00
ISSUED
CAPITAL : N1, 000,000.00
PAID-UP
CAPITAL :N1, 000,000.00
AUDITORS : Nil
SOLICITORS/COY
SEC : Nil
STAFF STRENGTH : 25
OWNERSHIP/SHAREHOLDING
STRUCTURE
Name Percentage
1. Mr. Chukwudozie Daniel 80%
Plot 10 and 12, Niger
Bridge Industrial Layout,
Onitsha, Anambra State
2. Mrs. Chukwudozie Adaora 20%
Plot 10 and 12, Niger
Bridge Industrial Layout,
Onitsha, Anambra State
MANAGEMENT PROFILE
1. Mr. Chukwudozie Daniel Managing Director/CEO
2. Mrs. Chukwudozie Adaora Executive Director
3. Miss. Amaka Okafor Secretary
BANKER
Name of Bank: Diamond
Bank,
Address: Onitsha
Branch
BRANCH
Undetermined as at the time of compiling
this report
TRADE REFERENCE
Undetermined as at the time of
compiling this report
PAYMENT REFERENCE
Undetermined as at the time of
compiling this report
PRODUCT DESCRIPTIONS
- Gas
- Diesel
- Fuel etc
RELATED COMPANY
- Guttroff
Industrial Gas Limited
- Planet
Hotels Limited
- Dozzy
Food Industry Limited
PERFORMANCE RANKING
* Quality of Management:
GOOD
* Ethics & Integrity: GOOD
* Ownership Structure: AVERAGE
OPERATIONS
Subject engages in oil and gas services. Subject is also into oil
marketing and advertisement.
Subject is located in a central business area in
Onitsha.
TYPES OF CUSTOMERS
Group of companies, Petroleum Marketers, Foreign Companies etc.
PRINCIPAL ANTECEDENTS
1. Name: Mr. Chukwudozie Daniel
Position: Managing
Director/CEO
Profession: Businessman
Date of
Birth: Nil
Place
of Birth: Nil
State
of Origin: Nil
Nationality: Nigerian
Work
Experience: About 15 years.
2. Name: Mrs. Chukwudozie Adaora
Position: Executive
Director
Profession: Businesswoman
Date of
Birth: Nil
Place
of Birth: Nil
State
of Origin: Nil
Nationality: Nigerian
Work
Experience: About 14 years.
DOCUMENTS VERIFICATION/
CONFIRMATION
1. CERTIFICATE OF INCORPORATION- Verified
2. MEMORANDUM/ ARTICLE OF ASSOCIATION- “
3. FORMS CO7 AND CO2- “
4. FINANCIAL REPORTS- Nil
5. BANK REFERENCE- Verified
6. TRANSACTION
DOCUMENTS/INVOICES-
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7. BILL OF LADING- Nil
8. PROFORMA INVOICE- Nil
9. LOCAL PURCHASING ORDER (LPO) - Nil
10. CONTRACT
CERTIFICATES- Nil
11. TRADE ASSOCIATION
CERTICATES- Nil
12. GOVERNMENT
REGULATORY AUTHORITIES CERTIFICATES- Nil
13. TRADE REFRENCES- Nil
PHYSICAL VISIT
Visits were made to the followings:
1.
COMPANY
PREMISES
2.
BANK
3.
CORPORATE
AFFAIRS COMMISSION. (Company Registry in Nigeria)
FINANCES
Subject financial information was
not available as at the time of compiling this report.
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CREDIT LINE AMOUNT: |
AVREAGE CREDIT (USD): 150, 000. 00 |
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CREDIT LINE OPINION: |
Subject appears to be
a credit worthy organization |
DIRECT INTERVIEW
NAME: Mss. Amaka Okafor
POSITION:
Secretary
DATE OF INTERVIEW:
Tuesday 15th
January, 2007
She provided all the information contained in this report. The MD
was out of town as at the time of our visit.
Subject has qualified, efficient, and dedicated staff that are all
times on the alert to respond to client needs.
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
The nation’s oil and gas sector has grown in size and complexity since the commencement of the present administration in Nigeria. The sector has become more sophisticated technologically, financially and in terms of required skills and expertise. The federal government policy in using indigenous contractors to execute her projects has gone a long way in increasing capital base, greater utilization of the Nigerian human and material resources in these sectors.
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 in a central business area in Onitsha, Anambra State. The office space is rented and could easily be located on Plot IN/162, Niger Bridge Head, Onitsha, Anambra State. Niger Bridge head is a popular area in Onitsha.
REMARKS
Copies of subject’s Audited
Account was not available from official sources as at the time of compiling
this report, therefore it’s full present financial position could not be ascertained.
However, the above figures could be use for your decision making.
Also,
local informants consider Subject trustworthy for normal credit requirements.
Efforts
are on to get additional information as our well structured questionnaire has
been submitted to subject.
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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