MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
AYRTON DRUG MFG LTD |
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Registered Office : |
B 1/24, Abeka Road, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
24.09.1965 |
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Com. Reg. No.: |
2086 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Wholesaling and Retailing
of Pharmaceutical Products |
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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Maximum Credit Limit : |
USD 800,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: AYRTON DRUG MFG LTD
Requested Name: AYRTON DRUG MFG LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: B 1/24, Abeka Road,
Accra, Ghana
Postal Address: P.o
Box 2149, Accra
Country: Ghana
Phone: 233-21-222235/226761
Fax: 233-21-241804
Email: info@ayrtondrugs.com
Website: www.ayrtondrugs.com
CREDIT OPINION
Financial Index as of
December 2007 shows subject firm with a medium risk of credit. We recommend
Credit of USD 800,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 24-Sept-1965
Reg. Number: 2086
Nominal Capital Cedi. 425,000,000
Subscribed Capital Cedi. 425,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr.
Samuel Benson Adjepon MD/ CEO 30%
Mrs.
Frances Jane Adjepong Director 20%
Mrs.
Linda Sangari Director 10%
Mr. Yaw
Adu Gyamfi Director
Mr.
Frank Amoako Boateng Director
Mr.
Mital Patel Director
Public
Shareholders Shareholders 40%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
2 branches & Warehouse in Ghana Branches of the firm
OPERATIONS
Registered to operate
wholesaling and retailing of pharmaceutical Products
Imports: Asia, China
Exports: Uganda and
Tanzania (10%)
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 360
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned
premises, 60.000 square feet,
AUDITORS AND INSURANCE
Auditors: K E Wood & Co
Insurance Brokers: AII Assurance
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 None
Submitted
Profit and Loss (expressed
in Cedi.)
2007
Sales 103,406,000,000
Net Profit (Loss) 15,164,000,000
BANK
Bank Name: Ghana Commercial Bank
Branch: Accra
, Ghana
Enquiry Amount: 1,000,000
Terms: 90 days
Bank Code: Code
-C which means good for normal Business Engagements
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%)