MIRA
INFORM REPORT
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Report Date : |
17.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
Saroop Impex Ghana Limited |
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Registered Office : |
H/No C. 501/ 5 Ring Road Cental, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
10th March, 2003 |
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Com. Reg. No.: |
C5324 |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
General merchandise (Import and Export) |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
Name
Saroop Impex Ghana Limited
Address
H/No C. 501/ 5 Ring Road Cental, Accra, Ghana
Accra.
Telephone : 233 212 44041
Fax : 233 21 221 307
Email : Information not provided
Date of
Incorporation
10th March, 2003
Rc No
C5324
Share Capital
cedi 42,550,000
Legal Form
Private Limited Liability Company
Managing Director
Mr Ravi Omprakash Daryanani
Line of Business
General merchandise (Import and Export)
Products
Milk, Gershea, Wine, Biscuit, Juice
Number of Employee
Twenty
Business Risks
Subjects Business Environment
Presently, Ghanaian economy is improving with the higher capacity utilization in industries and low inflationary trends and there are influx of foreign investors into the country.
Nature of subject
Business
Saroop Impex Ghana Limited has been in the business of Importation of Milk, Wine, Juice and cream since 2003 in Accra, Ghana
Subject and its
industry
Subject is a major and Viable player within the industry. The industry is dominated by foreign companies
Cash Flow
and Profitability
Despite our visit to subject office Financial Business information was not provided
Market Coverage
Saroop Impex Ghana Limited Products covers the entire Ghana
Directors Nationality
Mr Ravi Omprakash Daryanani India
Mr Omprakash Choithram Daryanani India
Comment
shares allotted was not stated at the register General in Accra
Competitors
Cyril Ghana Ltd
Bentos Trading Ghana Ltd
A and T Ltd
Gas Ghana Ltd
Economic
Trend 2007
Foreign Exchange Rate to US Dollar CEDI 9,400
Interest Rate ( Lending ) 14.5 percent
Financial
Information
Financial Information was not provided despite our visit to subject office
Banker
Merchant Bank Ghana Limited
Stock Market
share Movement
Subject is a private Limited Liability Company, its shares are not quoted on the floor of Ghana Stock Exchange
CONCLUSION AND
RECOMMENDATION
Saroop Impex Ghana Limited was incorporated in Ghana as a private Limited liability company. it is a going concern business.
We recommend for normal business relationship.
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%)