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MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
HEINEMANN EDUCATIONAL BOOKS (NIGERIA) PLC |
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Registered Office : |
1, Ighodaro Road, Jericho Ibadan, Oyo State. |
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Country : |
Nigeria |
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Date of Incorporation : |
21.04.1969 |
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Com. Reg. No.: |
RC: 6171 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Publishing and Marketing of School, University and General
Books. |
RATING &
COMMENTS
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MIRAs 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: HEINEMANN EDUCATIONAL BOOKS (NIGERIA) PLC
REGISTERED NAME: HEINEMANN EDUCATIONAL BOOKS (NIGERIA) PLC
REGISTERED ADDRESS: 1, Ighodaro Road, Jericho Ibadan, Oyo State.
HEAD OFFICE ADDRESS: 1, Ighodaro Road, Jericho Ibadan, Oyo State.
TELEPHONE(S): 234-2- 2410747, 2410943, 2411213, 2412268, 2413096
FAX: 234-2- 2411089, 2413237
E-MAIL: info@heinemannbooks.com, heinemannbooks@yahoo.com
WEBSITE: www.heinemannbooks.com
POSTAL ADDRESS: P.M.B 5205, Ibadan Oyo State.
Subject is into Publishing and Marketing of School, University and General Books Services.
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: Owned, office space at head office occupying approximately 8,000
square metres.
DATE INCORPORATED: 21st April 1969
YEAR BEGAN OPERATION: 1962
LEGAL FORM: Private Limited Company
REGISTRATION NO: RC: 6171
SHARE CAPITAL: N1,
000,000.00
ALLOTTED SHARE
CAPITAL: N1,
000,000.00
AUDITORS: Aneni-Dairo
& Co.
SOLICITORS: Bandele Aiku & Co.
FINANCIAL YEAR END: 31st March
BOARD SECRETARY: Alpha Nominees (Secretaries)
ADVERTISING
AGENCY: KAAN Advertising
COMPANY SECRETARY: Mrs. Oludolapo Kukoyi
STAFF STRENGHT: 121 (as at October 2006)
OWNERSHIP
Name
Evans D. Alalade
Lebanon Street, Ibadan
Oyo State.
(Nigerian)
Aye A. Aneni
Lebanon Street, Ibadan
Oyo State
(Nigerian)
John Watson
Connings by Road,
London. (British)
Robert D. Sulley
Palmer pork Avenue,
Reading, Berkshire (British)
Ado Gwaram
Farm Centre Estate,
Foundation Road,
Kano. (Nigerian)
Ezekiel M. Ojo
N5B/2121 Lamide Ajadi Street,
Off Iwo Road, Monatan Ibadan,
Oyo State.
(Nigerian)
Nathaniel B. Alimole
1B, Oba Olagbegi Avenue,
Old Bodija, Ibadan,
Oyo State.
(Nigerian)
Richard Gale
Chelsea Cottage, Pound Land
Stowmarket Suffolk.
(British)
Ayo Ojeniyi
Block 11, Plot x, Adebale Layout
Molade, Ibadan, Oyo State. (Nigerian)
Aliyu M. Sango
116, Norman Williams Street, Ikoyi
Lagos State.
(Nigerian)
Festus S. Ehinlaiye
E9/2429, New Ife Road,
Ibadan Oyo State. (Nigerian)
Chinua Achebe
University of Nigeria Nsukka,
Enugu State.
(Nigerian)
Emmanuel O. Alayande
Oluseyi Lodge, Alase Compound
E7/656, Oke Ofa Ibadan
Oyo State.
(Nigerian)
Aigboje Higo
Plot 11, Block VII Oba Ademola II Road,
G.R.A. Agodi,
Ibadan, Oyo State. (Nigerian)
Obada O. Esio
7, Obada Avenue, Agbarho
Ugheli, Delta State
(Nigerian)
Ola C. Sunday
Ekiti Street, Bodija, Ibadan,
Oyo State.
(Nigerian)
SHARE HOLDERS (PREVIOUS)
Nil
DIRECTORS
1. Chief Aigboje Higo Chairman
2. Mr. Ayo Ojeniyi
3. Prof. Chinua Achebe (NNMA, OFR)
4. Chief. Festus S. Ehinlaiye
5. Mr. Bob Oshorne
(British)
6. Alh. Ado Gwaram
7. Mr. Eddie Bowers (British)
8. Mr. Robert Sulley
(British)
MANAGEMENT PROFILE
Mr. Ayo Ojeniyi Managing
Director / CEO
Chief N.O.Okereke General Manager
(Marketing)
Mr. Lawrence O. Agge Ag. General Manager (Sales
Marketing)
Mr. Mathias Williams Egbah Ag.
General Manager (Production)
Mrs. Olawepo A. Sogo Ag. General Manager
(Publishing)
Mrs. Oludolapo Kukoyi Ag. General Manager
(finance)/Company Sec.
Mr. Aliyu Samuel Assist.
General Manager (Sales and Marketing)
RELATED COMPANY
Nil
BRANCHES
*LAGOS
Block BB1, Lagos State Small-Scale Industrial Estate, Fatai
Atere Way, Matori, Lagos.
P.O.Box 5588, Ikeja Lagos
Tel: c/o (01) 521950, 4526514
E-mail: info@heinemannbooks.com,
heinemannbooks@yahoo.com
Website: www.heinemannbooks.com
*ABUJA
1, Bulawayo Street, Off Nouakchott Street, Zone 1, Wuse,
Abuja
Tel: (09) 5230928)
*OWERRI
Plot 196, Okigwe Road,
P.O.Box 2304, Owerri
Tel: (083)234931
E-mail: mez@phca.linkserve.com
*MAIDUGURI
Baga Road, Opp. Bewac Motors,
P.O.Box 2177, Maiduguri
Tel: (076)236426
*ZARIA
49, New Jos Road,
P.M.B. 1112, Zaria
Tel: (069) 334274
*BENIN
1, Urubi Street, Iyaro,
P.O.Box 675, Benin City
Tel: (052) 254800
E-mail: hebn@benin.nipost.com.ng
*JOS
1, All Police Barracks Road, Near St. Theresas Catholic
Church,
P.O.Box 1748, Jos
Tel: (073) 450140
E-mail: joseph@jos.nipost.com.ng
*AKURE
202, Oyemekun Road, Akure,
Tel: c/o (034) 232123
E-mail: heinemann@akurecity.com
BANKERS
*United Bank for Africa (UBA) *Spring Bank Plc *Diamond Bank
Plc *Starling Bank Plc *Zenith Bank Plc.
TRADE REFERENCES
*Nigerian Publishers Association
*Manufacturing Association of Nigeria
*Ibadan Chamber of Commerce
PAYMENT REFERENCE
Local and Foreign Companies
PRODUCT DESCRIPTION
School Accessories and Publishing of Books
PERFORMANCE RANKING
* Quality of Management: AVERAGE
* Ethics & Integrity: GOOD
* Ownership Structure: GOOD
OPERATIONS
Subject is into Publishing and Marketing of School, University and General Books.
Subject is located in a central business area at 1, Ighodaro Road, Jericho Ibadan, Oyo State
TYPES OF CUSTOMERS
*General Public *Group of Companies
BACKGROUND
Heinemann
Educational Books (Nigeria) Plc was incorporated in Nigeria in April 21st 1969
with prominent personalities drown from both Nigeria and Oversea. Since
inception, the company has played major roles in publishing industry.
Currently, the company is among the leading publisher in Nigeria.
EXPANSION PLAN
Subject is looking for foreign partnership.
PRINCIPAL ANTECEDENT
Nil
PHYSICAL VISIT
Visits
were made to the followings:
1.
COMPANY PREMISES
2.
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.
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RISK
RATING ASSESSMENT: |
Apparently healthy,
with adequate working capital to meet normal commitments |
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CREDIT
LINE AMOUNT: |
NORMAL |
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0CREDIT
LINE OPINION: |
Subject appears to be a credit worthy organization |
DIRECT INTERVIEW
NAME: Nil
POSITION: Nil
DATE OF INTERVIEW:
9th
March 2007
Subject principals declined information; therefore, details in this
report are culled from public sources.
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
The Parts Assembly 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 the 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 1, Ighodaro Road, Jericho Ibadan, Oyo State
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, Heinemann Educational Books
(Nigeria) Plc is
duly registered in Nigeria, with a registered address, 1,
Ighodaro Road, Jericho Ibadan, Oyo 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 SCs 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%)