MIRA
INFORM REPORT
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Report Date : |
13th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
UNIVERSITY PRESS PLC |
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Registered Office : |
Three Crowns Building, Jericho, Ibadan, Oyo State-Nigeria |
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Country : |
Nigeria |
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Date of Incorporation : |
14.08.1978 |
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Com. Reg. No.: |
RC: 25783 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Subject is into Publishing, Distribution, and Sales of Books and
Educational materials. |
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: UNIVERSITY PRESS PLC
REGISTERED
NAME: UNIVERSITY PRESS PLC
PREVIOUS NAMES: OXFORD UNIVERSITY
PRESS NIGERIA (Till 14th August, 1978)
UNIVERSITY
PRESS LIMITED (Till 24th October, 1990) and
Converted to Plc
in 1978
REGISTERED
ADDRESS: Three Crowns Building, Jericho, Ibadan, Oyo
State-Nigeria
HEAD OFFICE
ADDRESS: Three Crowns
Building, Jericho, Oyo State-Nigeria
TELEPHONE(S): 234-2-
2412313, 2412386
MOBILE: Nil
FAX: 234-2-2412056
E-MAIL: info@universitypressplc.com,
unipress@universitypressplc.com
WEBSITE: www.universitypressplc.com
POSTAL ADDRESS: P.M. B 5095, Ibadan, Oyo State-Nigeria
Subject is into Publishing, Distribution,
and Sales of Books and Educational materials.
In Nigeria subject is considered to be a
large 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 9000
square
metres.
DATE INCORPORATED: 14th August, 1978
YEAR BEGAN
OPERATION: 1949
LEGAL FORM: Private Limited
Company
REGISTRATION NO: RC: 25783
SHARE CAPITAL:
N250, 000, 000.00
ALLOTTED SHARE
CAPITAL: N250, 000, 000.00
PAID-UP CAPITAL N149.795,
000, 000.00
AUDITORS: BDO
Oyediran Faleye Oke & Co.
SOLICITORS: Mr. Gbolahan A. Idowu
COMPANY SECRETARY: Mr.
Gbolahan A. Idowu
STAFF
STRENGHT: 215
OWNERSHIP/SHAREHOLDING
STRUCTURE
Name %Held
Nigerian 88.78
Foreign 11.22
SHARE HOLDERS (PREVIOUS)
Nil
DIRECTORS
1. Dr. Lekan Are
2. Mr. Samuel Kolawole
3. Mr. Tunde Durosinmi- Etti
4. Chief Micheal O. Akinleye
5. Mr. Moses O. Morawo
6. Mr. I.C. Okorie
7. Chief Oluneye B. Okuboyejo
8. Mr. O.S Osho
9. Mal. Adamu A. Sufi
MANAGEMENT PROFILE
Mr. Samuel Kolawole Managing Director
/ CEO
Mr. Moses O. Morawo Executive
Director (Marketing / Distribution)
Mr. O.I Osinowo General
Manager (Marketing)
Mr. G.A Adebayo General Manager
(Finance)
Mr. Ishola Akinsola General
Manager (Product Development)
Mr.S.J Falade Assistant
General Manager (Human Resources)
Mr. P.N Umahi Assistant
General Manager (Field Operations, East)
Mrs. F.O. Bademosi Assistant
General Manager (Publishing)
Mr. A.B. Muili Assistant
General Manager (Production)
Mr. G.A. Fakemi Senior
Manager (Marketing / Distribution)
Mr. A.A. Balogun Senior
Manager (Finance)
Mr. A.O. Mohammed Senior
Manager (Field Operations, Zaria)
Mr.E.B. Adewuyi Senior
Manager (Field Operations, Ibadan)
Mr. G.A. Idowu Company
Secretary / Legal Adviser.
RELATED COMPANY
Oxford University Press (U.K.)
BRANCHES
ABA JOS MAKURDI
48, Faulks Road, Aba 5,
Dogon Dutse Road, 12A,
Near Bridge Road,
Tel: 234 (0)804-214-9772 Off,
Bauchi Road Opp.
UBA Plc,
P.O.Box
5462 Jos Otukpe
Road, Makurdi
Tel
/ Fax: 234-73-612407 Tel:
234-44-534919
8033590372
ABUJA KADUNA ONITSHA
Plot 822, Jos Street, Tsamiya
House, 24, Limca
Road
Area 3, Garki, Abuja LL4
Yoruba Rd, Onitsha
Tel: 234-9-804-2149772 Off
Ahmadu Bello way, Tel:
234-803-3608754
Opp
Kaduna North LG Secr.
Magajingari,
Kaduna
AKURE KANO OWERRI
65, Oyemekun Road, 104,
Zungeru Road Plot
109, Ikenegbu Layout,
Akure No
mans land PMB
1370, Owerri,
Tel: 234-34-242183 Off
Airpoprt Road, Kano Tel / Fax: 234(0)83-231595; 8033903670
0803-3903717 Tel:
234-64-647296; 8042130117
BENIN LAGOS
(OGBA) ZARIA
5,Eguadase Street, Plot
14, Block A, Along
Kano-Kaduna Expr.,
Off Akpakpava Street, Off
ACME Road, Opp.
Jim Harrison Hotel,
Besides NYSC Secretariat Ogba
Industrial Estate, P.O.Box
458, Zaria
P.O.Box 713, Benin city PMB
21523, Ikeja, Lagos Tel:
234-69-331682
Tel / Fax: 234-52-255070 Tel:
234-1-4924490; 7753527 Fax:
234-69-332244
0803-3601314 0804-2130118
ILORIN LAGOS
(AJEGUNLE) WARRI
275, Umar Saro Road, 195,
Kirikiri Road, 84,
Jakpa Road,
New Lagos Road, Ajegunle,
Lagos Off
Warri / Sapele Road,
Sawmill Area, Tel:
234-1-7753527; 803-3602431 Warri,
P.O.Box 346 Ilorin Tel:
234(0)804-2149768
Tel: 234-31-224046; 803-3921607
AFFLIATED FOREIGN COMPANY
Oxford University Press (U.K)
BANKER
1. Access Bank Plc
2. Eco Bank Plc
3. Guaranty Trust Bank Plc
4. United Bank for Africa Plc
5. Wema Bank Plc
6. Zenith Bank Plc
TRADE REFERENCES
1. Manufacturing Association of Nigeria (MAN
2. Nigerian Publishers Association
3. Nigerian Institute of Management
4. Ibadan Chamber of Commerce
PAYMENT REFERENCE
Local and Foreign Companies
PRODUCT DESCRIPTION
Books for Pre- Primary, Primary, Secondary and Tertiary Educational
Levels, General and Creative Writing Series, Educational Charts, World Bank
Publications.
PERFORMANCE RANKING
* Quality of Management:
VERY GOOD
* Ethics & Integrity: GOOD
* Ownership Structure:
GOOD
OPERATIONS
Subject is into Publishing, Distribution, and Sales of Books and
Educational materials.
Subject is located in a central business area at Three Crowns Building,
Jericho, Ibadan, Oyo State-Nigeria.
TYPES OF CUSTOMERS
General Public, Group of Companies and Foreign Companies
BACKGROUND
University press Plc was founded in 1949 under the name Oxford
University Press Nigeria, and has grown to become one of the oldest, most
experienced and the nations foremost Publishers as a Public Liability Company
(Plc) in 1978, the companys name was changed to university Press Limited with
an authorized share capital of 8,000,000 Ordinary shares of 50k each.
Quoted on the Nigeria Stock Exchange on 14th August 1978, University
Press Plc, has on two occasions, won the prestigious Stock Exchange Merit Award
in the service sector of quoted
companies. It also won for two consecutive years 1984 and 1985, the
concord Prize for Excellence in academic Publishing.
EXPANSION PLAN
Subject is looking for foreign partnership.
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.
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RISK RATING
ASSESSMENT: |
Appears to have a sound financial base
with a strong capability. liquidity looks healthy |
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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 Publication and sales of books 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 Three Crowns Building, Jericho, Ibadan, Oyo
State-Nigeria
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, University Press Plc is duly registered in Nigeria, with a
registered address, Three Crowns Building, Jericho, Ibadan, Oyo State-Nigeria.
The operational office address is the 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%)