MIRA
INFORM REPORT
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Report Date : |
23.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLESSED TREE LTD |
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Registered Office : |
Blk 517/8, 17 Dadeban St.North Ind. Area |
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Country : |
Ghana |
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Date of Incorporation : |
14.02.02 |
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Com. Reg. No.: |
45560 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Wholesaling and Retailing
of Building, Mining, Safety ,Workshop and Office Equipment, etc |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: BLESSED TREE LTD
Requested Name: BLESSED
TREE LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Blk
517/8, 17 Dadeban St.North Ind. Area,
Postal Address: P.o Box CT 3487, Cantonments
Accra
Country: Ghana
Phone: 233-21-221591/22529
Fax: 233-21-228827
Email: btreeltd@ghana.com
Website: none
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 14-02-02
Reg. Number: 45560
Tax Number: A00092896
Nominal Capital GHC. 50,000,000
Subscribed Capital GHC. 50,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
John Bandoh MD/ CEO 80
Mr.
Peter Bandoh Director 20
RELATED COMPANIES
None Parent company.
Qualifoods Ghana Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate
wholesaling and retailing of Building, Mining, Safety ,Workshop & Office
Equipment, etc
Imports: Europe, & Asia
Exports: None
Trademarks: Ritz,
Omron
Terms of sale: Cash (70%) and 30
days (30%), invoices.
Main Customers: firms
and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Rented
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 = 9,267.3 Ghanaian Cedi
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 25,000,000,000
Net Profit (Loss) 700,000,000
BANK
Bank Name: THE TRUST BANK LTD
Branch: 17 Dadeban Street, Block 517/8 Inside SG SSB
Premises, North Ind Area
Account Number: 00011000164480
Enquiry Amount: 50,000
Terms: 90 days
Bank Code: Code
-C which means good for normal Business Engagements
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.42.33 |
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UK Pound |
1 |
Rs.84.32 |
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Euro |
1 |
Rs.66.75 |
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%)