MIRA
INFORM REPORT
|
Report Date : |
24.11.2007 |
IDENTIFICATION
DETAILS
|
Name : |
DECOR AND TILES |
|
|
|
|
Registered Office : |
P.
O Box 1951, Achimota, Accra |
|
|
|
|
Country : |
Ghana |
|
|
|
|
Date of Incorporation : |
16-Oct-03 |
|
|
|
|
Com. Reg. No.: |
23821 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Wholesaling and retailing
of Ceramics’ and Granite tiles. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
USD 20,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: DECOR AND TILES
Requested Name: DECOR AND TILES
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Mile 7 Junction Near
Peace Fm, Achimota
Postal Address: P. O Box 1951,
Achimota
Accra
Country: Ghana
Phone: 233-21-408250
Fax: 233-21-408250
Email: decor8tiles@ghana.com
Website: None
CREDIT OPINION
Financial Index as of December
2006 shows subject firm with a medium risk of credit. We recommend Credit of
USD 20,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 16-Oct-03
Reg. Number: 23821
Nominal Capital Cedi. 100,000,000
Subscribed Capital Cedi. 100,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. M
Frankousu MD/ CEO
Mr. P
Fred Director
Mrs.
M Philomena Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of
subject firm.
None Branches of the firm
OPERATIONS
Registered to operate
wholesaling and retailing of Ceramics’ and Granite tiles
Imports: Spain
Exports: None
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customer: firms and
organizations
Employees: 60 employees.
(inc. casuals)
Vehicles: Several motor
vehicles.
Territory of sales: Ghana
Location: Rented premises,
2.000 square feet,
AUDITOCEDI AND INSURANCE
Auditors: Information not available.
Insurance Broker: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (Cedi.)
Approx. Ex. Rate: 1 US Dollar = 9998 Ghanaian Cedi
Fiscal Year End: December 31, 2006
Inflation: According to information
given by independent sources, the inflation at January 31st,
2005
was of 15%.
Financial Information Not
Submitted
Profit and Loss (expressed
in 000 Cedi.)
2006
Sales 10,000,000
Net Profit (Loss)
500,000
BANK
Bank Name: BARCLAYS
BANK
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL
BONDS
None
COMMENTS / ADDITIONAL INFORMATION
This information was
obtained from outside sources other than the subject company itself and confirmed
the above subject.
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. |
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%)