MIRA
INFORM REPORT
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Report Date : |
11.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLESSED HERBAL CLINIC LTD |
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Registered Office : |
Mile 7 Accra, Loc
Exhibition Round - about Dansoman, Accra |
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Country : |
Ghana |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
06.08.2001 |
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Com. Reg. No.: |
215646 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacture and Retail of Herbal Medicines and Other Related
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 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 HERBAL CLINIC LTD
Requested Name: BLESSED
HERBAL CLINIC LTD
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Mile 7 Accra, Loc Exhibition Round - about Dansoman,
Accra
Postal Address: P.o Box MS 247
Accra
Country: Ghana
Phone: 244-647009
Fax: 244-6590978
Cellular: 244-4647009/9363789
Email: blessedherbalclinic@yahoo.com
Website: none
CREDIT OPINION
Financial Index as of December 2007 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6-Aug-2001
Reg. Number: 215646
Nominal Capital GHC 1,000,000
Subscribed Capital GHC 1,000,000
Subscribed Capital is Subscribed
in the following form:
Position Shares
Mr. Juan Essandoh Director 80.00%
Mrs. A Essandoh Director 20.00%
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 manufacture and retail of herbal medicines and other related products
Imports: None
Exports: None
Trademarks: None
Terms of sale: Cash
(90%) and 30 days (10%), invoices.
Main Customers: firms
and organizations
Employees: 28
employees.
Vehicles: None
Stated
Territory of
sales: Ghana
Location: Rented
premises, 1.000 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 Not Information Submitted
2007
Sales 25,000,000,000
BANK
Bank Name: BARCLAYS BANK
Comments: 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.48.79 |
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UK Pound |
1 |
Rs.75.41 |
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Euro |
1 |
Rs.61.48 |
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%)