MIRA
INFORM REPORT
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Report Date : |
12.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MDS-LANCET LABORATORIES GHANA LTD |
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Registered Office : |
Unit 51 Guggisberg Ave
Accra Ghana |
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Country : |
Ghana |
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Date of Incorporation : |
26.04.05 |
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Com. Reg. No.: |
812318 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Wholesaling and Retailing
of Industrial Chemicals etc |
RATING &
COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: MDS-LANCET
LABORATORIES GHANA LTD
Requested Name: MDS-LANCET
LABORATORIES GHANA LTD
Other Names:
None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Unit 51 Guggisberg Ave Accra Ghana
Postal Address: P.o Box AC 533 Art Center
Accra
Country: Ghana
Phone: 233-24-4032266
Fax: 233-24-4032266
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a High risk of credit. We recommend Secured Credit only
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 26-04-05
Reg. Number: 812318
Nominal Capital GHC. 10,000,000
Subscribed Capital GHC. 10,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
Paul Sekyere-Nyantakyi Director 50
Mr.
Victor Ayevo Director 50
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
industrial Chemicals etc
Imports: None
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 30 days (20%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Rented
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Shilling (GHC.)
Approx. Ex. Rate: 1 US Dollar = 10,098 Ghanaian Shilling
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at December
31st, 2007 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in GHC.)
2007
Sales 2,000,000,000
Net Profit (Loss) 200,000,000
BANK
Bank Name: Ecobank Ghana Ltd
Branch: Ghana
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.82 |
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UK Pound |
1 |
Rs.84.89 |
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Euro |
1 |
Rs.68.07 |
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%)