MIRA
INFORM REPORT
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Report Date : |
07.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHAHID MACCI NIGERIA LIMITED |
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Registered Office : |
42, Mando Road, Kaduna, Kaduna |
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Country : |
Nigeria |
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Date of Incorporation : |
20.01.1993 |
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Com. Reg. No.: |
RC: 213775 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Manufacturing, Marketing and Exportation of Gum Arabic
(Grade-1, Grade-2, Grade-3, Ginger, Sesame Seed & Hibiscus Flower to Other
Countries. |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
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IDENTIFICATION
ENQUIRY NAME: SHAHID MACCI NIGERIA LIMITED
COMPANY NAME: SHAHID
MACCI NIGERIA LIMITED
REGISTERED NAME: M.
SHAHID NIGERIA LIMITED
REGISTERED ADDRESS: 42,
Mando Road, Kaduna, Kaduna State-Nigeria
HEAD OFFICE ADDRESS: 67, Ibrahim Taiwo Road,
Kano, Kano State.
(Subject has move to unknown location)
TELEPHONE(S): 234-64-206228
FAX: 234-64-206229
MOBILE: Nil
E-MAIL: Nil
WEBSITE: Nil
POSTAL ADDRESS: Nil
SUMMARY
NATURE
OF PREMISES: Leased, office space at head office occupying
approximately 120 square metres. (Former office)
DATE INCORPORATED: 20th
January, 1993
YEAR BEGAN OPERATION:
1993
LEGAL FORM: Private
Limited Company
REGISTRATION NO:
RC: 213775
SHARE CAPITAL: N200,
000.00
ALLOTTED SHARE CAPITAL: N200,
000.00
PAID-UP CAPITAL N200,
000.00
AUDITORS: Nil
SOLICITORS: Nil
COMPANY SECRETARY:
Nil
STAFF STRENGHT: about 5
OWNERSHIP/SHAREHOLDING
STRUCTURE
Name
Ibrahim Abdulkadir
42, Mando Road, Kaduna,
Kaduna State-Nigeria
Abubakar A.
42, Mando Road, Kaduna,
Kaduna State-Nigeria
SHARE HOLDERS (PREVIOUS)
Nil
DIRECTORS
Ibrahim Abdulkadir
Abubakar A.
MANAGEMENT PROFILE
Ibrahim Abdulkadir
Managing Director/CEO
Abubakar A. Executive Director
ASSOCIATE COMPANIES
Nil
PARENT COMPANY
Nil
BRANCH
Subject used to have another office at: 1st
Floor No.-2-B, Niger Street, Gidan Goldie, Kano State. But our investigation at
this address revealed that subject has also move out to unknown location.
BANKER
Intercontinental Bank Plc, Lagos
TRADE REFERENCES
Local and International
PAYMENT REFERENCES
Local and International
PRODUCT DESCRIPTION
*GUMA ARABIC * DRIED GINGER * FRESH GINGER* SESAME SEED* RAW
COTTON etc.
PERFORMANCE RANKING
* Quality of Management: FAIR
* Ethics & Integrity: AVERAGE
* Ownership Structure: GOOD
OPERATIONS
Subject is into Manufacturing,
Marketing and Exportation of GUM ARABIC (GRADE-1, GRADE-2, GRADE-3, GINGER,
SESAME SEED & HIBISCUS FLOWER to other Countries.
Subject present location is
undetermined
TYPES OF CUSTOMERS: General Public, Foreign
Companies
BACKGROUND
Undetermind
EXPANSION PLAN
Nil
PRINCIPAL ANTECEDENT
1. Name: Ibrahim
Abdulkadir
Position: Managing Director
Profession: Businessman
Date of Birth: Nil
Place of
Birth: Nil
State of
Origin: Nil
Nationality: Nigerian
PHYSICAL VISIT
Visits
were made to the followings:
1.
COMPANY PREMISES
2.
CORPORATE AFFAIRS COMMISSION.
3.
Other office
FINANCES
Subject
Audited Account was not available as at the time of our investigation.
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RATING
ASSESSMENT: |
Appears to have average ability to meet trading commitments |
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CREDIT
LINE AMOUNT: |
FAIR |
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CREDIT
LINE OPINION: |
Transaction with subject is
considered to be fair trade risk |
DIRECT INTERVIEW
Neighbours in the former premises
INDUSTRIAL OVERVIEW/ OPERATING
ENVIRONMENT
Exportation of goods is major business in Nigeria, in fact, prior to the
new civilian regime, this use to be the business for majority of businessmen
and women alike. But the story is slightly different now, as the federal
government has placed ban on the importation of certain goods into Nigeria.
However, for those who bring in goods that are not prohibited by the Nigerian
laws are having swell time in terms of turnover.
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.
COMPANY LOCATION
The company is location is undetermined
OFFICIAL REMARKS
Having carried out all necessary research on
subjects, our investigations revealed that, the company, Shahid Macci Nigeria
Limited is
duly registered in Nigeria as M. Shahid Nigeria Limited, with a registered
address, 42, Mando Road, Kaduna, Kaduna State-Nigeria.
While the operational office address is undetermined.
All efforts to locate subject
new office address proved abortive.
All information contained in
this reports are culled from secondary sources only.
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%)