MIRA
INFORM REPORT
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Report Date : |
05.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMMODITIES PROCESING INDUSTRIES LTD |
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Registered Office : |
Tema Free Zone Enclave,
Tema |
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Country : |
Ghana |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
16.04.1998 |
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Com. Reg. No.: |
68446 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Distributors of Cocoa, and Cocoa Products |
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 |
SUBJECT'S NAME
Registered Name: COMMODITIES PROCESING INDUSTRIES LTD
Requested Name: Commodities
Procesing Industries Ltd
Other Names: CPI ltd
ADDRESS AND TELECOMMUNICATION
Physical Address: Tema Free Zone Enclave, Tema
Postal Address: Private Mail Bag
Tema
Country: Ghana
Phone: 233 22 251450
Fax: 254-22-251450
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2007 shows subject firm with a medium
risk of credit. We recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 16-April-98
Reg. Number: 68446
Nominal Capital CEDI. 50,000,000
Subscribed Capital CEDI. 50,000,000
Subscribed Capital is Subscribed
in the following form:
Position Shares
Mr. J Rotllan MD/ CEO
Mr. T Rotllan 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 as manufacturers & distributors of Cocoa, and
cocoa products
Imports: Asia
Exports: Europe
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Rented/
Owned premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (CEDI.)
Approx. Ex. Rate: 1 US Dollar = 11800
Fiscal
Year End: December 31, 2007
Inflation:
According to information
given by independent sources, the inflation at December 31st, 2007 was of
13%.
Financial Information Not Submitted
Profit and Loss (expressed in CEDI. )
2007
Sales 25,000,000,000
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.69 |
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UK Pound |
1 |
Rs.72.96 |
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Euro |
1 |
Rs.63.46 |
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%)