MIRA
INFORM REPORT
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Report Date : |
19.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
KELECHI MEKON AND COMPANY (K MEKON INT. CO) |
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Registered Office : |
P.O Box 1233 Cameroon |
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Country : |
Cameroon |
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Date of Incorporation : |
27.9.2002 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Retailers of General Merchandise e.g Chemical Raw Materials, Textile
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 : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
KELECHI MEKON AND
COMPANY (K MEKON INT. CO)
Principal Address
P.o Box 1233 Cameroon
Telephone: +237
Fax: +237
Email: None
Internet: None
Established
27/9/2002
Registration
No. Cameroon
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
10
Office & Factories
Head offices 10 Akwa Douala Cameroon
Branches None
Company Profile
Paid in Capital CFA. 10,000,000
Subscribed Capital CFA. 10,000,000
Shareholders
Name Position Amount
Ratio
Mr. kalu Onwuka Director 50.00%
Mrs G Agbeze Director 50.00%
Total 100.00%
Affiliated Companies
None
Management/ Directors
President/ CEO (1)
Name Mr.
kalu Onwuka
Remarks Top
Decision Maker
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
Business Activities
Retailers of
General Merchandise e.g Chemical raw materials, textile etc
Terms of payment
Buying terms 100%
Cash
Selling terms 100% Cash
Suppliers
Various
Customers
Public
Recent Sales
CFA. 200,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
40.0%
Domestic Market Share
5.0%
Banking relationship
Main Banks Eco Bank
Credit Check of Subject,
President & CEO (as of report date)
Payment Morale: In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING: Financial situation is
average.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.78 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.90 |
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%)