MIRA
INFORM REPORT
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Report Date : |
30.12.2008 |
IDENTIFICATION DETAILS
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Name : |
LA ROCHE EQUIPMENT NIGERIA LIMITED |
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Registered Office : |
3, |
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Country : |
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Date of Incorporation : |
17.05.2001 |
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Com. Reg. No.: |
RC: 410954 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Plumbing Fixtures, Equipment and Supplies |
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 : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
LA ROCHE QUIPMENT
LIMITED
OPERATIONS
Subject
is into Plumbing fixtures, Equipment and Supplies.
Subject is located
in an Industrial area at 64A, Amuwo Odofin, Oshodi Apapa Expressway,
RISK FACTORS
Credit Risk
ASSESSMENT: Apparently healthy,
with adequate working capital
to meet normal commitments
CREDIT LINE AMOUNT:
CREDIT LINE OPINION: Subject appears to be a credit
worthy organization
IDENTIFICATION
COMPANY NAME: LA ROCHE
EQUIPMENT LIMITED
REGISTERED
NAME: LA
ROCHE EQUIPMENT NIGERIA LIMITED
REGISTERED
ADDRESS: 3,
HEAD OFFICE
ADDRESS: 64A, Amuwo
Odofin, Oshodi Apapa Expressway,
POSTAL
ADDRESS:
TELEPHONE(S):
234-1-7903777
FAX: 234-1-5556667
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
SUMMARY
NATURE OF
PREMISES: Leased, office space at head office occupying
approximately
1,750 square meters
DATE INCORPORATED 17th May, 2001
YEAR BEGAN OPERATION: 2001
LEGAL FORM: Private Limited Company
REGISTRATION NO: RC: 410954
SHARE CAPITAL:
5,000,000.00
STAFF STRENGHT: about
40
SHAREHOLDERS
ASSAD CHAGOURY (EXPERTRATE)
3,
SAYEED CHAGOURY (EXPERTRATE)
3,
TONY CHAGOURY (EXPERTRATE)
3,
JOSEPH CHAGOURY (EXPERTRATE)
3,
DIRECTORS
ASSAD CHAGOURY (EXPERTRATE)
SAYEED CHAGOURY (EXPERTRATE)
TONY CHAGOURY (EXPERTRATE)
JOSEPH CHAGOURY (EXPERTRATE)
COMPANY LOCATION
The company is located at
64A, Amuwo Odofin, Oshodi Apapa Expressway,
TRADE REFERENCES
Subject: have both local and international references
PAYMENT REFERENCES
Subject: have both local and international references
PERFORMANCE RANKING
* Quality of
Management: GOOD
* Ethics &
Integrity: GOOD
* Ownership
Structure: GOOD
PRODUCT DESCRIPTION
Modern Bathroom Equipment,
Modern High Quality Sanitary Ware etc.
PHYSICAL VISIT
- Company
Premises
- Corporate
Affairs Commission
FINANCES
Subject Audited Accounts was not available as the time of compiling this
report.
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
Subject is operating in an industry with very great potentials. The
industry in
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,
La Roche Equipment Nigeria Limited is duly registered in
address
at 3,
64A, Amuwo Odofin,
Oshodi Apapa Expressway,
Subject is into genuine
business transactions. Subject is a
going concern.
The company’s premises are
three Bungalows divided into three sections.
2 for production while the remaining one is been used as main office,
opposite Alfa laboratory by 1st Rainbow Bus Stop
Mr. Sunday received our
letter and questionnaire today 29-12-2008. He declined information.
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.48.76 |
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1 |
Rs.71.68 |
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Euro |
1 |
Rs.69.17 |
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%)