MIRA
INFORM REPORT
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Report Date : |
12.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
INTER STAR EYE CENTRE |
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Registered Office : |
H/No. F525/1, 5th Lane Osu Accra |
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Country : |
Ghana |
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Date of Incorporation : |
24.05.2004 |
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Com. Reg. No.: |
84846 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Operate as
Optometrists |
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 50,000 |
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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: INTER STAR EYE CENTRE
Requested Name: INTER STAR EYE CENTRE
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: H/No.
F525/1, 5th Lane Osu Accra
Postal Address: P.o Box 3115
Accra
Country: Ghana
Phone: 233-21-783832
Fax: 233-21-783832
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2007 shows subject firm with a high risk
of credit. We recommend Credit of USD 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 24/5/2004
Reg. Number: 84846
Nominal Capital GHS. 50,000,000
Subscribed Capital GHS. 50,000,000
Subscribed Capital is Subscribed
in the following form:
Position Shares
Mr. A Bonsu MD/ CEO
Mr. Peter Kwabena Director
Mr. Sam Mensa 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 optometrists
Imports: Asia
Exports: None
Trademarks: None
Terms
of sale: Cash (20%) and
(80%), invoices.
Main
Customers: .Public
Employees: .10 employees
Vehicles: One motor vehicles
Territory
of sales: Ghana
Location: Leased premises,
1,500 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 = 10,098 Ghanaian Cedi (GHC.)
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 Submitted
Profit and Loss (expressed in GHC.)
2007
Sales 5,000,000,000
Net Profit (Loss) 400,000,000
BANK
Bank Name: Commercial Bank
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.
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%)