MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
OPHE-OCEAN COMPANY |
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Registered Office : |
P O Box AB13 Abeka-Accra |
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Country : |
Ghana |
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Date of Incorporation : |
08.11.2005 |
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Com. Reg. No.: |
881989 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributors of General
Merchants, Currently Specialising in Gold Dust etc |
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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: OPHE-OCEAN COMPANY
Requested Name: Ophe-Ocean
Company
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: P O Box AB13 Abeka-Accra Ghana
Postal Address: P.o Box AB13 Abeka-Accra Ghana
Accra
Country: Ghana
Phone: 233-244-808643/ 233-275-963304
Fax: 233-244-808643
Email: vyasagyapong@yahoo.com
Website: None
CREDIT OPINION & RISK RATING
ASSESSMENT
Financial Index as of December 2007 shows subject firm
with a High risk of credit. We recommend Secured Credit only
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 8-nov-05
Reg. Number: 881989
Nominal Capital GHC. 20,000,000
Subscribed Capital GHC. 20,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Vyas Silas Director 50
Mr.
Derick Asamoah Director 50
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 Distributors of general
Merchants, currently specialising in Gold Dust etc.
Imports: China,
India etc
Exports: Worldwide
Trademarks: None
Terms of sale: Cash (40%) and 30 days
(60%), invoices.
Main Customers: firms and
organizations
Employees: 5 employees.
Vehicles: Several motor
vehicles.
Territory of sales: South Africa
Location: Rented premises,
300 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghana Cedi (GHC.)
Approx. Ex. Rate: 1 US Dollar = 11,680 Ghana 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 5,000,000,000
BANK
Bank Name: Prudential Bank
Branch: Accra
Comments: None
TRADE
REFERENCES
Experiences: None
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.44.89 |
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UK Pound |
1 |
Rs.78.86 |
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Euro |
1 |
Rs.63.33 |
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%)