MIRA
INFORM REPORT
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Report Date : |
26.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
GEOELIS AND COMPANY (NIGERIA) LIMITED |
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Registered Office : |
45, Oroyinyin Street, Lagos |
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Country : |
Nigeria |
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Date of Incorporation : |
9th July 1976 |
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Com. Reg. No.: |
RC: 18374 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Importation of general goods. |
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 : |
Usually correct |
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Litigation : |
Clear |
IDENTIFICATION
COMPANY NAME : GEOELIS AND COMPANY (NIGERIA) LIMITED
REGISTERED NAME : GEOELIS AND COMPANY (NIGERIA) LIMITED
REGISTERED ADDRESS : 45, Oroyinyin Street, Lagos-Nigeria
HEAD OFFICE ADDRESS : 9, Eletu Iwashe Street, Off Iga-Iduganran Street, Lagos Island, Lagos.
TELEPHONE(S) : 234-1-2666895, 2641865
FAX : 234-1-2666895
E-MAIL : Nil
POSTAL ADDRESS : P.O.Box 470, Lagos
Subject is into importation of general goods.
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: Leased, office space at head office occupying approximately 100 square metres.
DATE INCORPORATED: 9th July 1976
YEAR BEGAN OPERATION: 1976
LEGAL FORM: Private Limited Company
REGISTRATION NO: RC: 18374
SHARE CAPITAL: N20,
000, 000.00
ALLOTTED SHARE
CAPITAL: N20, 000, 000.00
PAID-UP CAPITAL N20, 000, 000.00
AUDITORS: Nil
SOLICITORS: Nil
COMPANY SECRETARY: Nil
STAFF STRENGHT: Nil
OWNERSHIP/SHAREHOLDING
STRUCTURE
Name %Held
Elias
E. Nwosu 50
55, Western Avenue,
Surulere, Lagos.
Geoffrey
C. Ezebube 50
21, Notidge Street, Onitsha,
Anambra State.
Rosaline
Nwosu 0
19, Bishop Street,
Lagos.
SHARE HOLDERS
(PREVIOUS)
Nil
DIRECTORS
1. Mr. Elias E. Nwosu
2. Mr. Geoffrey C. Ezebube
3. Mrs. Rosaline Nwosu
MANAGEMENT PROFILE
Mr. Elias E. Nwosu Executive Director
Mr. Geoffrey C. Ezebube
Executive Director
Mrs. Rosaline Nwosu
Executive
Director
RELATED COMPANY
Nil
BRANCHES
Nil
BANKER
Nil
TRADE REFERENCES
Nil
PAYMENT REFERENCE
Nil
PRODUCT DESCRIPTION
General Goods
PERFORMANCE RANKING
* Quality of Management: AVERAGE
* Ethics & Integrity: GOOD
* Ownership Structure: GOOD
OPERATIONS
Subject is into importation of general goods.
Subject is located in a central business area at 9, Eletu Iwashe Street, Off Iga-Iduganran Street, Lagos Island, Lagos.
TYPES OF CUSTOMERS
*General Public *Group of Companies* 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.
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CREDIT
LINE AMOUNT: |
FAIR |
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CREDIT
LINE OPINION: |
Transaction with subject is
considered to be fair trade risk |
DIRECT INTERVIEW
NAME: Nonye Nzekwe
POSITION: Receptionist
Also interview was the Managing Director. He however
declined information.
INDUSTRIAL OVERVIEW/
OPERATING
ENVIRONMENT
Importation business in Nigeria has grown in size and
complexity since the commencement of the present administration. The business
has become more financially intensive and in terms of the required skills.
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 9, Eletu Iwashe Street, Off Iga-Iduganran Street, Lagos
Island, Lagos.
OFFICIAL REMARKS
Having carried out all necessary research on subjects, our
investigations revealed that, the company, Geoelis and Company (Nigeria)
Limited is
duly registered in Nigeria, with a registered address, 45,
Oroyinyin State, Lagos Island, Lagos-Nigeria.
While the operational office address is at 9, Eletu Iwashe Street, Off
Iga-Iduganran Street, Lagos Island, Lagos-Nigeria.
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%)