MIRA
INFORM REPORT
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Report Date : |
02.06.2007 |
IDENTIFICATION DETAILS
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Name : |
DEBRA CORP NIGERIA LIMITED |
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Registered Office : |
63, |
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Country : |
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Date of Incorporation : |
21st July 1992 |
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Com. Reg. No.: |
RC: 168034 |
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Legal Form : |
Private Limited Liability Company (LTD.) |
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Line of Business : |
General Contracting |
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 : |
Unknown |
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Litigation : |
Clear |
IDENTIFICATION
COMPANY NAME: DEBRA
CORP NIGERIA LIMITED
REGISTERED NAME: DEBRA CORP NIGERIA LIMITED
PREVIOUS NAME: NIL
REGISTERED ADDRESS: 63,
HEAD OFFICE ADDRESS: (2nd
Floor), 1,
TELEPHONE(S): 234-1-7765669
FAX: 234-1-2643883
E-MAIL: Nil
WEBSITE: Nil
POSTAL ADDRESS: Nil
Subject is into General Contracting
In
Currency: All monetary values in this report are in Nigerian Naira, the
local currency, except otherwise stated. The exchange rate is N128 to 1
SUMMARY
NATURE OF
PREMISES: Leased, office space
at head office occupying approximately 120 square metres.
Subject share the same building with UBA Bank Plc.
DATE INCORPORATED: 21st July 1992
YEAR BEGAN OPERATION: 1992
LEGAL FORM: Private Limited Liability Company (LTD.)
REGISTRATION NO: RC:
168034
SHARE CAPITAL:
N10, 000 .00
ALLOTTED SHARE CAPITAL: N10,
000 .00
PAID-UP CAPITAL N10, 000 .00
AUDITORS:
Nil
SOLICITORS:
Nil
COMPANY SECRETARY: Nil
STAFF STRENGHT:
10
SHAREHOLDERS/DIRECTORS
Folashade Adesanya
63,
Lagos-Nigeria
Adebowale Adesanya
63,
Lagos-Nigeria
DIRECTORS
Folashade Adesanya Director
Adebowale Adesanya Director
Mr. Kanu Clement Managing Director
INCREASE IN SHARE
CAPITAL
Undetermined
MANAGEMENT PROFILE
Mr. Kanu Clement Managing Director
SUBSIDIARY COMPANIES
Nil
BRANCHES
Nil
BANKER
Name: Fidelity Bank Plc
Address: 2,
Off
Victoria Island,
Tel: 234-1-2610408-12
Fax: 234-1-2610414
Email: info@fidelitybank-ng.com
Website: www.fidelitybank-ng.com
PAYMENT REFERENCE
Subject has both local and foreign references
PRODUCT DESCRIPTION
General goods
PERFORMANCE RANKING
* Quality of Management: AVERAGE
* Ethics & Integrity: AVERAGE
* Ownership Structure: AVERAGE
OPERATIONS
Subject is into General Contracting
BACKGROUND
Undetermined
EXPANSION PLAN
Undetermined
PRINCIPAL ANTECEDENT
Undetermined
PHYSICAL VISIT
Visits were made to the followings:
COMPANY PREMISES
CORPORATE AFFAIRS COMMISSION.
Bank (Though they declined information
FINANCES
Subject audited accounts were not available as at the time of compiling this report. Therefore, its present financial position could not be ascertained.
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CREDIT LINE AMOUNT: |
AVERAGE |
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CREDIT LINE OPINION: |
Subject
has average ability to meet trading commitments |
DIRECT INTERVIEW
NAME:
Mr. Kanu Clement
POSITION: Managing
Director
He earlier promised to provide
us with the company information. He however refused to fufill his promise.
Though, our questionniare is with him. We hope he turn it
to us to update this report accordingly.
INDUSTRIAL OVERVIEW/
OPERATING
ENVIRONMENT
General contracting business in
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 (2nd Floor), 1,
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our investigations
revealed that, the company, Debra Corp Nigeria Limited is duly registered in
All information contained in this report 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/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%)