MIRA
INFORM REPORT
|
Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
|
Name : |
GOOD UNITED NIGERIA LIMITED |
|
|
|
|
Registered Office : |
Plot 2/4, Samuel Anibaba Street, Ketu, Lagos |
|
|
|
|
Country : |
Nigeria |
|
|
|
|
Date of Incorporation : |
17.03.2004 |
|
|
|
|
Com. Reg. No.: |
RC: 507075 |
|
|
|
|
Legal Form : |
Private Limited Company |
|
|
|
|
Line of Business : |
Manufacturing of Coffee Products |
RATING &
COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
Status : |
Small Company |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
Litigation : |
Clear |
IDENTIFICATION
COMPANY NAME: GOOD UNITED NIGERIA LIMITED
REGISTERED NAME: GOOD UNITED NIGERIA LIMITED
REGISTERED
ADDRESS: Plot 2/4, Samuel Anibaba Street, Ketu, Lagos.
HEAD OFFICE ADDRESS: Plot 2/4, Samuel Anibaba Street, Mile 11 ˝, off Ikorodu Road, Ketu,
Lagos-Nigeria
TELEPHONE(S): Nil
MOBILE: Nil
E-MAIL: Nil
WEBSITE: Nil
POSTAL ADDRESS: Nil
Subject is into
manufacturing of coffee Product.
In Nigeria subject
is considered to be a small 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: Owned, office space at head office occupying approximately 2500
square metres.
DATE INCORPORATED: 17th March, 2004
YEAR BEGAN OPERATION: 2004
LEGAL FORM: Private Limited Company
REGISTRATION NO: RC: 507075
SHARE CAPITAL: N5,
000, 000.00
ALLOTTED SHARE CAPITAL: N5, 000, 000.00
PAID-UP CAPITAL N5, 000,
000.00
AUDITORS: Nil
SOLICITORS: Nil
COMPANY SECRETARY: Nil
STAFF STRENGHT: 40
OWNERSHIP/SHAREHOLDING
STRUCTURE
Subject shareholders were not listed at Corporate Affairs Commission.
SHARE HOLDERS (PREVIOUS)
Nil
DIRECTORS
The company Personnel Manager refused bluntly to provide us with their director’s details.
MANAGEMENT PROFILE
The company Personnel Manager also refused bluntly to provide us with their Management details.
RELATED COMPANY
Nil
BRANCH
Nil
BANKER
Nil
TRADE REFERENCES
Nil
PAYMENT REFERENCE
Nil
PRODUCT DESCRIPTION
Coffee Products
PERFORMANCE RANKING
* Quality of Management: AVERAGE
* Ethics & Integrity: GOOD
* Ownership Structure: FAIR
OPERATIONS
Subject is into Manufacturing of Coffee Products
Subject is located in a central business area at plot 2/4, Sameul Anibaba Street, Ketu, off Ikorodu road Lagos-Nigeria.
TYPES OF CUSTOMERS
General Public, Group of Companies and Foreign Companies
BACKGROUND
Nil
EXPANSION PLAN
Nil
PRINCIPAL ANTECEDENT
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.
|
RISK RATING ASSESSMENT: |
Appears to have
average ability to meet trading commitments. |
|
CREDIT LINE
AMOUNT: |
FAIR |
|
0CREDIT LINE
OPINION: |
Transaction with
subject is considered to be fair trade risk |
DIRECT INTERVIEW
NAME: Nil
POSITION: Personel Manager
DATE OF INTERVIEW: 6th March 2007
According to the Personnel Manager, the company is into manufacturing of Coffee and Beverages. They also have branches but he did not disclose any details. He declined further information.
All attempts to contact subject Principals proved abortive.
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
The construction industry in Nigeria has grown in size and complexity since the commencement of the present administration. The industry has become more sophisticated technically, financially and in terms of the required skills and expertise.
The government policy in using indigenous contractors to execute her projects has gone a long way in increasing capital base, greater utilization of Nigerian human and material resources in this sector.
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 plot 2/4, Samuel Anibaba Street, Ketu, off Ikorodu Road, Lagos-Nigeria.
REMARKS
Having carried out all necessary research on subjects, our investigations revealed that, the company, Good United Nigeria Limited is duly registered in Nigeria, with a registered address, Plot 2/4, Samuel Anibaba Street, Ketu, off Ikorodu Road, Lagos. While the operational office address is same as registered address.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)