MIRA
INFORM REPORT
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Report Date : |
09.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
BASELINE
LTD |
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Registered Office : |
P. O Box AN 16977, Accra North |
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Country : |
Ghana |
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Date of Incorporation : |
16-Aug-96 |
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Com. Reg. No.: |
199416 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Operate as
general trading Company |
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
20,000 |
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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: BASELINE LTD
Requested
Name: BASELINE LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Avenue, Accra North, Ghana
Postal Address: P.o Box AN 16977
Accra North
Country: Ghana
Phone: 233-27-2573013
Fax: 233-27-2535290
Email: None
Website: None
CREDIT OPINION
Financial Index
as of December 2006 shows subject firm with a medium risk of credit. We
recommend Credit of USD 20,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 16-Aug-96
Reg. Number: 199416
Nominal Capital GHC. 10,000,000
Subscribed Capital GHC. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Darkuman Nyamekye MD/ CEO
Mr. R Elashkar Director
Mr. S Rami Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to
operate as general trading Company
Imports: None
Exports: None
Trademarks: None
Terms of sale: Cash (40%) and 25-90 days (60%), invoices.
Main Customers: firms and organizations
Employees: 40 employees.
Vehicles: Several motor vehicles.
Territory of sales: Ghana
Location: Rented premises, 5000 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 16,000,000,000
BANK
Bank Name: SGS SSB Bank 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%)