MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMPUTER WAREHOUSE LIMITED |
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Registered Office : |
33, Akerele Road, Surulere, Lagos |
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Country : |
Nigeria |
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Date of Incorporation : |
10.10.1991 |
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Com. Reg. No.: |
RC: 175641 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Information Technology Services Conglomerate (Reselling, Service &
Maintenance of Hardware, Sales & Implementation of Software,
Communications, and Networking Connectivity) |
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 : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
COMPUTER WAREHOUSE
LIMITED
OPERATIONS
Subject is into Information Technology
Services Conglomerate (Reselling, Service & Maintenance of Hardware, Sales
& Implementation of Software, Communications, and Networking Connectivity)
In Nigeria, subject is a medium concern in this sector
Subject is located
in a commercial area at P.O.BOX 771194 Lagos Octagon Building 13A AJ Marinho
Drive Vict Island Lagos.
RISK FACTORS
Credit Risk
RISK RATING
ASSESSMENT: Apparently
healthy, with adequate working capital to meet normal commitments
CREDIT LINE
AMOUNT: Normal
CREDIT LINE
OPINION: Subject appears to be a credit worthy organization
External
Constraints:
Subject operates in an environment highly technologically driven with
cyber fraudsters posing the greatest threat to the business. Coupled with this,
the loose information technology system security in the country is also highly
discouraging.
Internal Constraints:
Subject is not under any constraints, either management or office space
IDENTIFICATION
COMPANY NAME: COMPUTER WAREHOUSE LIMITED
REGISTERED NAME: COMPUTER WAREHOUSE LIMITED
REGISTERED ADDRESS: 33, Akerele Road, Surulere, Lagos.
HEAD OFFICE ADDRESS: P.O.Box 71194 Lagos Octagon Towers (5th floor) Building 13A AJ Marinho
Drive Vict Island Lagos.
TELEPHONE: 234-1-774-4368, 2704674-5, 4610889-90
FAX: 234-1-2705583
E-MAIL: cw@cwlgroup.com
WEBSITE: www.cwlgroup.com
Currency:
All monetary quoted in this report are in Nigerian Naira, the local currency or
unless otherwise stated. The exchange rate is N118 to 1 US $.
SUMMARY
NATURE OF
PREMISES: Leased, office space at head office occupying
approximately 1,300 square meters
DATE INCORPORATED 10th October, 1991
YEAR BEGAN OPERATION: 1991
LEGAL FORM:
Private Limited
Company
REGISTRATION NO: RC: 175641
SHARE CAPITAL:
500, 000. 00
ISSUED CAPITAL: 500, 000. 00
PAID-UP CAPITAL: 500, 000. 00
STAFF STRENGHT: 350
OWNERSHIP
Name
- B.A. Aladekomo
0%
33, Akerele Road, Surulere, Lagos.
- B.A. Fawunmi 0%
33, Akerele Road, Surulere, Lagos.
DIRECTORS
- Oyedele Niyi
- Oyedele Folayemi
MANAGEMENT
1. Mr. Austin Okere Managing Director /C.E.O
2. Mr. Philip Obioha Executive Director (DCC)/C.O.O. (Computer
Warehouse)
3. Mr. James Agada
Executive Director
(ExpertEdge)
PARTNERSHIP
Through the years, Computer Warehouse Group has gone into alliances with
major global IT companies. The business model of the Group is replete with the
best-in-class of global companies, for their best products and method of
delivering them to customers by using the best people. Among the IT giants,
they are their foremost partners in West Africa. These models:
Ø
Avaya Communications
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Computer Associates
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CISCO
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DELL
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Gilat Network Systems
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Hewlet Packard
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International Business Machines
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Infosys Technologies
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Network Appliance
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Oracle Corporation
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Sun Microsystems
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Wincor Nixdorf
BACKGROUND
Vision To be the ICT
solution of choice enabling business globally.
Mission They deploy world class
ICT solutions enabling business and driven by innovative people and skillful
processes.
Quality policy is to deliver its
solution that will add value to customers’ operations, meet and exceed their
expectation and they shall deliver them right the first time and all the time.
Support
Quoting one of the company staff, we understand that local support is a
crucial ingredient for success. Our sales strategy is hinged on customer
referrals obtained by providing the ‘ultimate in customer satisfaction’ to our
customers. Our proven ability to deliver and support world class solutions has
created an immense sense of trust, integrity and partnership with our
customers; and that guarantees them peace of mind and assures their loyalty.
This is our value edge. Let us work for you now!
Certifications
We have gone through the ISO 9001 certification process across the whole
Group. We have also earned top partnership certifications from our OEM partners
from across the globe. Some of these are:
Computer Warehouse
Limited Certifications
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Sun Approved Service Provider
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Sun iForce Partner
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Sun Authorised Reseller
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NetApp Gold Partner
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Dell Authorised Service Provide (DASP)
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Dell EMC Gold Partner
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Microsoft Gold Partner
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HP Value Partner
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IBM Value Partner
DCC
Satellite & Networks Limited Certifications
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Gilat Gold Partner
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Cisco Premier Select Partner
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Avaya Business Partner
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CA Premier Partner (Computer Associates)
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WiLAN Gold Partner
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Stratex Value Partner
ExpertEdge
Software & Systems Limited Certifications
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Oracle Certified Advantage Partner
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Infosys Business Partner
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SAP Enterprise Partner (in view)
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Sun iForce Solution Partner
ExpertEdge Training Centre
Certifications
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Oracle Certified Education Partner
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Sun Authorized Education Partner
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Peason VUE Prometric Centre
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Thompson NETg e-Leaning Partner
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Microsoft Authorised Training Centre (in view)
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Cisco Authorised Training Centre (in view)
QUALITY MANAGEMENT CERTIFICATION
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NIS ISO 9001:2000
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Project Management & ITIL Service Management Certifications by staff
CUSTOMERS REMARKS ON COMPUTER
WAREHOUSE LIMITED
“In the short time that our company has been working with Computer
Warehouse Limited, we have been exposed to nothing but the utmost
professionalism, from the sales department to the technical department.” Mr.
Leslie J. McDonald, former Manager Computer Services, IITA Ibadan.
“We are happy to do business with Computer Warehouse and are fully
satisfied with the services we have been receiving from them. They go extra
mile to ensure that customers are satisfied.” Mr. A.A. Ayodele, Manager Systems
& Computer Services, Mobil Oil Nigeria Plc.
“CWG has right men with the requisite experience and this level of
expertise was manifested when we visited MTN and MTel and the installations in
these two places were carried out in a professional manner.”
-Mr. Rune Rafsho, Snr. IT Advisor, Ghana Telecom.
Subject is located at the Octagon Building 13A Marinho Drive Victoria
Island. Subject is at the back of Eko Hotel & Suites when you pass through
Bishop Oluwole Street. The building is painted navy blue, decorated with
glasses and it’s up to 15 storey building.
Subject maintain 5th floor.
At the entrance was a receptionist who mentioned her name as fifunmi a
Yoruba girl (God gave me). There are a lot
of activities going on within as there is free entry and exist for customers.
INTERVIEW
Name: Fifunmi
Position: Secretary
Fifunmi (God gave me) a receptionist describe the company as a well to
do, who has focus and immeasurable vision for the upliftment of technology
styles and system in the country. She
describes the management team as best among equal, who work hand in hand to
promote the well being of the company on daily basis.
COMPANY LOCATION
The company is located at 5th floor Octagon Building 13A AJ
Marinho Drive Vict Island Annex Lagos, Nigeria.
TRADE REFERENCE
Subject has both local and international trade references
BRANCH OFFICES
* CWG Abuja
Plot 8, Abeokuta Street, Area 8, Garki, Abuja.
Tel/Fax: +234-9-2346446
E-mail: info.abuja@cwlgroup.net
Website: www.cwlgroup.com/cwg_abuja
* CWG Port Harcourt
11A, Igbodo Street, Old G.R.A.,
Port Harcourt
Tel: +234-84-231257
E-mail: info.portharcourt@cwlgroup.net
Website: www.cwlgroup.com/cwg_ph
* CWG Ghana Regional Office
126, Airport West Residential
Area,
P.O.Box KD 247 Kanda, Accra,
Ghana
Tel: +233-221772793,
Mobile: +233-244-310346
E-mail: info.portharcourt@cwlgroup.net
Website: www.cwlgroup.com/cwg_ghana
*DCC Satellite and Networks
Block 54A, Plot 10
Adebayo Doherty Road
Off Admiralty Road
Lekki Phase 1, Lagos.
Tel: +234-1-2706065, 8980673
Fax: +234-1-2705998
24x7 Support Lines: +234-1-2706064, 8972305, 2706675
Email: info.dcc@cwlgroup.net
Website: www.cwlgroup.com/dcc
*Expertedge Software & Systems Limited
11b, Ligail Ayorinde Street,
Off Ajose Adeogun Street,
Victoria Island, Lagos, Nigeria.
Tel: +234-1-2705462, 4610891-2, 4723141, 8516814
24x7 Support Lines: +234-1-4723142, 8911310
Email: info.expertedge@cwlgroup.net
Website: www.cwlgroup.com/ee
*Expertedge Training Centre
11b, Ligail Ayorinde Street,
Off Ajose Adeogun Street,
Victoria Island, Lagos,
Nigeria.
Tel: +234-1-2705463
Email: info.training@cwlgroup.net
Website: www.cwlgroup.com/tc
FINANCES
Subject Audited Accounts was not available as the time of compiling this report.
RISK RATING ASSESSMENT: Apparently healthy, with adequate working
capital to meet normal Commitments
CREDIT LINE AMOUNT: Normal
CREDIT LINE OPINION: Subject appears to be a credit worthy organization
PARENT COMPANY
Computer Warehouse Group of Companies
SUBSIDIARIES
* D.C.C. Satellite & Networks Limited. * Export Edge Software &
Systems Limited.
PAYMENT REFERENCES
Subject has both local and international Payment references
PERFORMANCE RANKING
* Quality of Management: GOOD
* Ethics & Integrity: GOOD
* Ownership Structure: GOOD
TYPES OF CUSTOMERS
*Group of Companies * General Public*
PHYSICAL VISIT
- Company
Premises
- Corporate
Affairs Commission
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
The IT industry in Nigeria is a fast growing one in terms of size and
complexity. The industry has become more sophisticated technically, financially
and in terms of the required skills and expertise; the use of modern
technologies in Nigeria has giving rise to world class IT solution companies.
The coming of mega communication companies, like MTN Nigeria, Celtel Nigeria
and Globalcom Nigeria has further placed a premium on the IT industry.
The use of electronics payment solutions is also a boost to the IT
industry.
There are many
opportunities in this sector of the economy. This could only be achieved
through Foreign Companies joint ventures with Nigerian companies, with adequate
Training/Technical Assistance - Provision of training facilities for a large
work force indirectly engaged in the Sub-Sector of the economy. This sector of
the economy has great potentials for intending investors.
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.
OFFICIAL REMARKS
Having carried out
all necessary verifications on subject, our investigations revealed that, the
company, Computer
Warehouse Limited is duly registered in Nigeria, with a registered address
at 33, Akerele
Road, Surulere, Lagos While the head office address is Octagon Towers (5th
floor)
Building 13A AJ
Marinho Drive Vict Island Lagos.
Subject is into genuine business
transactions. Subject is an ongoing
concern.
All information contained in the report are
mostly from secondary sources.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)