MIRA
INFORM REPORT
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Report Date : |
07.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
COSMOS EDUCATIONAL PRESS LTD |
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Registered Office : |
P. O Box 157,
New Achimota, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
6-Jun-92 |
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Com. Reg. No.: |
41678 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Operate as printing press for printing, publishing
and distributing of school books, and Stationery items |
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: COSMOS EDUCATIONAL PRESS LTD
Requested Name: COSMOS EDUCATIONAL
PRESS LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: 10th Street Mile 7
Postal Address: P. O Box 157, New Achimota
Accra
Country: Ghana
Phone: 233-21-415001
Fax: 233-20-8245922
Email: info@cosmoseducational.com
Website: www.cosmoseducational.com
CREDIT OPINION
Financial Index shows subject firm with a medium risk
of credit. We recommend Credit of USD 50,000 on 60 days.
LEGAL
Legal Form: Limited
Corporation
Date Incorporated: 6-Jun-92
Reg. Number: 41678
Nominal Capital GHC. 50,000,000
Subscribed Capital GHC.
50,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mrs. Eselecha William MD/ CEO 80%
Mr. sam mosima Director 20%
RELATED COMPANIES
None Parent company.
None Subsidiary
company.
None Affiliated
company.
None Shareholder
of subject firm.
1 branch in Cameroon Branches of the firm
OPERATIONS
Registered to operate as printing press for printing, publishing
and distributing of school books, and Stationery items
Imports: Europe, India and Asia
Exports: Neighboring Countries
Trademarks: None
Terms of sale: Cash (80%) and 30 days (20%), invoices.
Main
Customers: Primary schools
Employees: 60 employees.
Vehicles: Several motor vehicles.
Territory of sales: Ghana
Location: Rented premises, 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 9,700,000,000
Net Profit (Loss)
BANK
Bank Name: Amalgamated Bank
Ltd
Branch: Kumasi,
Ghana
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%)