MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
TSL
LOGISTICS LIMITED |
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Registered Office : |
Plot 26, Block M, Isolo Industrial Scheme, Apapa
Oshodi Expressway |
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Country : |
Tanzania |
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Date of Incorporation : |
20.10.2002 |
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Com. Reg. No.: |
144578 Lagos Nigeria |
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Legal Form : |
Limited Liability Company, Limited By Shares |
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Line of Business : |
Trucking and Logistic Services etc |
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. |
Small |
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Maximum Credit Limit : |
USD 50,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
TSL
LOGISTICS LIMITED
Other Name --
Principal Address
Plot 26, Block M, Isolo Industrial Scheme, Apapa Oshodi Expressway,
Telephone: +234-1-8993370/
8981815/ 8961823
Fax: +234-1-3205322
Email: wfatoki@tsllimited.com
Internet: www.tsllimited.com
Established
20/10/2002
Registration
No. 144578 Lagos
Nigeria
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
40
Office & Factories
Head offices Lagos Nigeria
Branches none
Company Profile
Paid in Capital NS. 1,000,000
Subscribed Capital NS. 1,000,000
Shareholders
Name Position Amount
Ratio
Mr. Wale
fatoki Director 20.00%
Mr. Deji Wright Director 20.00%
Mr. Jibe Tinubu Director 30.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 50,000 is recommendable
Affiliated Companies
None
Company (1) TSL MARINE LIMITED
Company (2) TRANSPORT SERVICE
LTD
Management/ Directors
President/ CEO (1)
Name Mr. Wale fatoki
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Deji Wright
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Trucking &
logistic Services etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None.
Customers
Oil Companies
Recent Sales
NS. 300,000,000
(2007)
Exports
Neighboring
Countries
Export Ratio
10.0%
Import Ratio
20.0%
Domestic Market Share
10.0%
Banking relationship
Main Banks Zenith
International Bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale: In the documents at our disposal nothing adverse has been shown
so far.
CREDIT RATING: Financial situation is average.
COMMENTS
Maximum credit we recommend is USD 50,000 outstanding at any one time.
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%)