MIRA
INFORM REPORT
|
Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
|
Name : |
TIMBER
EXPORT |
|
|
|
|
Registered Office : |
Palladium Office, Greater |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
17/9/72 |
|
|
|
|
Com. Reg. No.: |
16971 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Exporters
of Timber, Teaks, Logs, Planks and Woods.
|
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUBJECT'S NAME
Registered
Name: TIMBER EXPORT
Requested
Name: Timber Export
Other Names: None found.
ADDRESS AND
TELECOMMUNICATION
Physical
Address: Palladium Office,
Greater
Postal
Address: P.o
Country:
Phone: 233-21-301481
Fax: 233-21-301481
Email: timberghana@gmail.com
Website: None
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 17/9/72
Reg. Number: 16971
Nominal Capital GHC. 1,000,000,000
Subscribed
Capital GHC. 1,000,000,000
Subscribed Capital is Subscribed
in the following form:
Position Shares
Mr. Yaw Osei MD/ CEO 1
Big Zach Business Ventures Company Holding Company 499,999
ERB Resources Limited
RELATED COMPANIES
Big Zach Business Ventures Company Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered
to operate as exporters of Timber, Teaks, Logs, Planks And Woods
Imports: None
Exports: Africa,
Trademarks: None
Terms of sale: Cash (50%) and 60 days (50%), invoices.
Main Customers: firms and organizations
Employees: 160 employees.
Vehicles: Several motor vehicles.
Territory of sales:
Location: Owned premises, 150.000 square feet,
AUDITORS AND
INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (GHC.)
Approx. Ex. Rate: 1 US Dollar = 9,560 Ghanaian Cedi
Fiscal Year End: December 31, 2006
Inflation: According to information given by independent sources, the inflation at January 31st,
2005 was of 7%.
Financial
Information Not Submitted
GHC. 000
FIXED ASSETS 19,000,000
STOCKS 253,000,000
DEBTORS 102,100,000
CREDITORS 175,260,000
Profit and
Loss (expressed in GHC.)
2006
Sales 450,000,000,000
Net Profit (Loss) 10,000,000,000
BANK
Bank Name: Prudential Bank
Comments: Overdraft None, Promissory notes- 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%)