MIRA
INFORM REPORT
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Report Date : |
31.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
KNAD SERVICES LTD |
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Registered Office : |
Green Park Ventures Upper
West, Greater Accra |
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Country : |
Ghana |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
11.06.2000 |
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Com. Reg. No.: |
182132 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Wholesaler and
Manufacturers of Chemical and Pharmaceuticals Products |
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 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: KNAD SERVICES LTD
Requested Name: KNAD SERVICES SAKUMONO POST
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Green park ventures upper west, Greater Accra
Postal Address: P.o Box GF365, T/F Accra, C/O
Accra
Country: Ghana
Cell: 233-4360781
Phone: 233-22-410181
Fax: 233-22-410181
Email: Nyatab@yahoo.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 50,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 11-jun-00
Reg. Number: 182132
Nominal Capital Cedi. 40,000,000
Subscribed Capital Cedi. 40,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Peter Ansah MD/ CEO
Mr.
Betty Ansah 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 wholesaler &
manufacturers of Chemical & Pharmaceuticals products
Imports: Asia,
China etc
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and (20%), invoices.
Main Customers: Industrial
firms, Hospitals, Pharmacies etc
Employees: 40
employees.
Vehicles: Several motor
vehicles.
Territory of sales: Ghana
Location: Rented premises,
3,000 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 =11,200 Ghanaian Cedi
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at January
31st, 2005 was of 14%.
Financial Information Not Submitted
Profit and Loss (expressed in Cedi.)
2007
Sales 25,000,000,000
BANK
Bank Name: BARCLAYS BANK
Branch: Accra 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.49.25 |
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UK Pound |
1 |
Rs.80.36 |
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Euro |
1 |
Rs.62.84 |
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%)