MIRA
INFORM REPORT
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Report Date : |
03.10.2007 |
IDENTIFICATION DETAILS
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Name : |
BBC
INDUSTRIES COMPANY LIMITED |
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Registered Office : |
P. O |
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Country : |
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Date of Incorporation : |
14/4/60 |
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Com. Reg. No.: |
1547 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distribution
of Timber, lumber and Wood Products. |
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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Maximum Credit Limit : |
USD
100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered
Name: BBC INDUSTRIES COMPANY LIMITED
Requested
Name: BBC INDUSTRIES COMPANY LIMITED
Other Names: None found.
ADDRESS AND
TELECOMMUNICATION
Physical
Address: Plot No Ind/A/217,
Postal
Address: P.o
Greater
Country:
Phone: 233-21-230750
Fax: 233-21-230754
Email: None
Website: None
CREDIT OPINION
We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 14/4/60
Reg. Number: 1547
Nominal Capital GHC. 50,000,000
Subscribed
Capital GHC. 50,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. K Manaseh MD/ CEO
Mr. P S Attah Director
Mr. M Adjaye Director
Mr. G Renner 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 Distribution of Timber, lumber
and Wood Products
Imports: None
Exports: Europe,
Trademarks: None
Terms of sale: Cash (20%) and 30 days (80%), invoices.
Main Customers: firms and organizations
Employees: 200 employees.
Vehicles: Several motor vehicles.
Territory of sales:
Location: Owned premises, 200.000 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
Profit and Loss (expressed in USD.)
2006
Sales 745,000,000
Net Profit (Loss) 56,000,000
BANK
Bank Name: Amalgamated Bank Ltd.
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
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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. |
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%)