MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN STORK GHANA LTD |
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Registered Office : |
Valco Road, Heavy
Industrial Area, P.O.
Box 5C376, Tema |
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Country : |
Ghana |
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Date of Incorporation : |
05.07.04 |
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Com. Reg. No.: |
212318 |
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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 : |
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: GOLDEN STORK GHANA
LTD
Requested Name: GOLDEN STORK GHANA LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Valco Road, Heavy Industrial Area,
Postal Address: P.o Box 5C376
Tema
Country: Ghana
Phone: +233-22-206060
Fax: +233-22-216771
Email: goldenstork@goldenstork.net
Website: www.goldenstork.net
management
Richard
Mensah Chemical
Sales Department
Stephen
Tour Pesticide,
Fertilizer and Sprayer Sales Department
Jean Bosco Accounting
Department
Antoine
Sauvage Managing
Director
Saaka Nana
Soale logistics
Department
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: 05-07-04
Reg. Number: 212318
Nominal Capital GHS. 50,000,000
Subscribed Capital GHS. 50,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Antoine Sauvage MD/ CEO
Mr.
Saaka Nana Soale Director
Mr.
James Abban Director
Mr.
William Nuamah 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 wholesaling and retailing of
industrial Chemicals etc
Imports: China,
India and South Africa
Exports: Uganda
and Tanzania
Export Percentage 11%-20%
Total Annual Purchase Volume US$2.5 million-US$5
million
Trademarks: None
Business Types Trading
Company, Distributor/Wholesaler
Products/Services Industrial
Chemicals, Agrochemicals, Sprayers and Fertilizers
Number of Employees 11-50
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms,
Industries and organizations
Employees: 70
employees.
Vehicles: Several
motor vehicles.
Territory of sales: South
Africa
Location: Owned
premises, 20.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Shilling (GHS.)
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 GHS.)
2007
Sales 45,000,000,000
Net Profit (Loss) 800,000,000
Capital
Registered
Capital US$101
Thousand-US$500 Thousand
Legal
Representative/Business Owner SCPA
SIVEX INTERNATIONAL
Golden Stork is a company of SSI group
SSI or SCPA
SIVEX INTERNATIONAL is a pubic French company created in 1920 to operate the
Potash Mines in Eastern France.
With
network of 15 subsidiaries in Africa, Vietnam and Cuba, SSI group si one of the
leading company in manufacturing and trading of fertilizers, industrial
chemicals, pesticides and animal feed.
factory
information
Factory
Size 5,000-10,000
square meters
Factory
Location Industrial
Area – TEMA
BANK
Bank Name: BARCLAYS BANK
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.
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%)