MIRA
INFORM REPORT
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Report Date : |
09.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
KAY KAY PROJECTS LTD |
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Registered Office : |
Private Mail Bag Community 11 Tema |
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Country : |
Ghana |
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Date of Incorporation : |
13.12.2004 |
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Com. Reg. No.: |
201947 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
General Trader |
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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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: KAY KAY PROJECTS LTD
Requested Name: KAY KAY PROJECTS LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Private
Mail Bag Community 11 Tema
Postal Address: Private
Mail Bag Community 11 Tema
Country: Ghana
Phone: 233-27-7446720
Fax: 233-27-7446720
Email: kay.kayprojects@gmail.com
Website: None
CREDIT OPINION
Financial Index as of December 2006 shows subject firm
with a medium risk of credit. We recommend Credit of USD 40,000 on 60 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 13-Dec-04
Reg. Number: 201947
Nominal Capital GHC. 50,000,000
Subscribed Capital GHC. 50,000,000
Position Shares
Mr. George Atta MD/ CEO
Mr. M
Snehal 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 compnay
Imports: Italy, China, India and South Africa
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 30 days (20%), invoices.
Main Customers: firms and
organizations
Employees: 30 employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned 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 1,100,000,000
Net Profit (Loss) 140,000,000
BANK
Bank Name: Standard
Chartered Bank Ghana
Branch: Tema
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%)