MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
G R INDUSTRIES LTD |
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Registered Office : |
Plot No 74 South
Industrial Area, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
2.3.1999 |
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Com. Reg. No.: |
96861 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers & Wholesalers of Chemical, Health and
Medicinal 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: G R INDUSTRIES LTD
Requested Name: G R INDUSTRIES LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot No 74 South Industrial Area, Accra, Ghana
Postal Address: P.o Box 3368, Accra
Country: Ghana
Phone: 233-21-667553/684185/
665628
Fax: 233-21-665625
Email: sale@grghana.com
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: 2-3-1999
Reg. Number: 96861
Nominal Capital Cedi. 50,000,000
Subscribed Capital Cedi. 50,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr.
Vivek Mudholkar Director
Mr. Ashok
Mudholkar Director
RELATED COMPANIES
None Parent
company.
None Subsidiary company.
G R Pharma Ltd Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as manufacturers
& wholesalers of Chemical, Health
and Medicinal Products
Imports: None
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms and
organizations
Employees: 40
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned
premises,
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 Cedi.)
2007
Sales 32,000,000,000
BANK
Bank Name: Amalgamated Bank
Branch: Accra
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.
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%)