MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TOBINCO
CO LTD |
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Registered Office : |
P. O Box 13808,
Accra |
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Country : |
Ghana |
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Date of Incorporation : |
14.06.1999 |
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Com. Reg. No.: |
78232 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importation,
Manufacturing and Distribution of Pharmaceutical Drugs, and Related Products
and accessories |
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
80,000 |
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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: TOBINCO CO LTD
Requested
Name: TOBINCO CO LTD
Other Names: Tobinco Pharmacy Ltd.
ADDRESS AND TELECOMMUNICATION
Physical Address: H/No C20/7, Near Kpehe Kaprice Kpehe, Accra
Postal Address: P. O Box 13808
Accra
Country: Ghana
Phone: 233-21-234375/ 23324/ 4373977
Fax: 233-21-250948
Email: tobinco@yahoo.com
Website: None
CREDIT OPINION
Financial Index as of December 2006 shows subject firm with a medium risk of credit. We recommend Credit of USD 80,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 14-Jun-99
Reg.
Number: 78232
Tax Number: 101256
Nominal Capital GHC 20,000,000
Subscribed
Capital GHC 20,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Samuel Amo Tobbin MD/ CEO 50
Mrs. Joan Tobin Director 50
Mr. Isaac Obed Brown Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
1 branches in Ghana Branches of the firm
OPERATIONS
Registered to
operate Importation, manufacturing and Distribution of Pharmaceutical Drugs,
and Related Products and accessories
Imports: Asian Countries
Exports: Neighboring Countries (<10%)
Trademarks: None
Terms of sale: Cash (90%) and (10%), invoices.
Main Customers: Medical organizations and Hospitals
Employees: 60 employees.
Vehicles: Several motor vehicles.
Territory of sales: Ghana
Location: Rented 2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (GHC)
Approx. Ex. Rate: 1 US Dollar = 10,016 Ghanaian Cedi
Fiscal Year End: December 31, 2006
Inflation: According to information given by independent sources, the inflation at January 31st,
2005 was of 14%.
Financial Information Not Submitted
Profit and
Loss (expressed in GHC)
2006
Sales 30,000,000,000
BANK
Bank Name: Trust Bank Ghana Ltd
Branch: Accra
Comments: Overdraft None, Promissory notes- 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.
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%)