MIRA
INFORM REPORT
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Report Date : |
08.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
JOHN BEST
CHEMIST |
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Registered Office : |
P. O Box AN7041, Accra North |
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Country : |
Ghana |
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Date of Incorporation : |
26-Mar-04 |
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Com. Reg. No.: |
64786 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesaling and retailing of pharmaceutical 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
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: JOHN BEST CHEMIST
Requested
Name: JOHN BEST CHEMIST
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical
Address: Accra North, Ghana
Postal Address: P.o Box AN7041,
Accra North
Country: Ghana
Phone: 233-22-221713
Fax: 233-22-221713
Email: jbestchemist@yahoo.co.nz
Website: None
CREDIT OPINION
Financial Index as of December 2006 shows subject firm with a High risk of credit. We recommend Credit of USD 20,000 on 90 days.
LEGAL
Legal Form: Sole Proprietorship
Date Incorporated: 26-Mar-04
Reg. Number: 64786
Nominal Capital GHC 10,000,000
Subscribed Capital GHC 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. John Best MD/ CEO 100%
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 wholesaling and retailing of pharmaceutical and Medicinal Products
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash (90%) and (10%), invoices.
Main Customers: Medical firms and public
Employees: 30 employees.
Vehicles: 2 motor vehicles.
Territory of sales: Ghana
Location: Rented premises, 1.000 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 8,000,000,000
Net Profit (Loss) 650,000,000
BANK
Bank Name: Amalgamated Bank Plc
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%)