MIRA
INFORM REPORT
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Report Date : |
19.03.2011 |
IDENTIFICATION DETAILS
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Name : |
SHAWN AND SHELDON INDUSTRIES LIMITED |
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Registered Office : |
11, |
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Country : |
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Date of Incorporation : |
14.04.2008 |
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Com. Reg. No.: |
RC: 741581 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Procurement and importation of industrial machines and raw
material. Services |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail: infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
OPERATIONS
The company
engages in procurement and importation of industrial machines and raw material.
Services.
COMPANY LOCATION
The company is located at
Block E, Plot 4,
Credit Risk
CREDIT LINE
AMOUNT:
CREDIT LINE
OPINION: Subject appears to be a credit worthy organization
IDENTIFICATION
COMPANY NAME: SHAWN AND SHELDON INDUSTRIES LIMITED
REGISTERED NAME: SHAWN
AND SHELDON INDUSTRIES LIMITED
REGISTERED ADDRESS: 11,
HEAD OFFICE ADDRESS: Block
E, Plot 4,
Church,
behind PZ, inside Zabadene Compound, Ilupeju,
PREVIOUS ADDRESS: 11,
TELEPHONE: 234-1-7655805
PRIMARY CONTACT: Mr.
Paul Ferrao (Managing Director)
Currency:
All monetary quoted in this report are in Nigerian Naira, the local currency or
unless otherwise stated. The exchange rate is N148 to 1
SUMMARY
NATURE OF PREMISES: Leased office space
occupying approximately 350 square metres.
DATE INCORPORATED: 14th
April, 2008
YEAR BEGAN OPERATION:
2008
LEGAL FORM: Limited Liability Company
REGISTRATION NO: RC:
741581
SHARE CAPITAL: 1,000,000.00
ALLOTTED SHARE CAPITAL: 2,000,000.00
PAID-UP CAPITAL 2,000,000.00
STAFF STRENGHT:
Ten
(10)
OWNERSHIP/SHAREHOLDING STRUCTURE
Name %
Held
1.
Oni Joel Atanda
3,
2.
Ferrao Paul Stanny 70%
11,
3.
Ferrao Jacinta
Joslin 30%
K.M. Colony, 13th &
DIRECTORS
1. Oni
Joel Atanda
2. Ferrao
Paul Stanny
3. Ferrao
Jacinta Joslin
BACKGROUND
Shawn & Sheldon Industries Limited was incorporated on 14th
April, 2008 with Registration Number (RC. 741581) to provide procurement
services in industries. Its mission is to deliver procurement services at
world-class level and at competitive prices to its clients. The corporate head office is located
at block E, Plot 4,
Shawn & Sheldon Industries Limited is engaged in procurement
and importation of industrial machines and raw material. (In order to meet the
service expectation of clients, Shawn
& Sheldon Industries has imbibed the operating strategy of executing
projects using strategic alliances the company has developed with world class
engineering services and manufacturing companies. This has put them in a
vantage position to provide qualitative services).
Shawn & Sheldon Industries Limited has its headquarters in
Mr. Paul Ferrao,
234-1-7655805, (0) 706-446-5590 (Managing Director/CEO) informed us during our
visit to the company on 17th March, 2011 that he has several years experience
in Project Management in the Industry and that he has been in Nigeria for over
fifteen years now. According him, the company was formerly located at 11,
Conclusion: Based
on available information, our visit to company’s premises and discussion with
Mr. Paul Ferrao (Managing Director/CEO), we are of the opinion that the company
is engage in a legitimate business with verifiable track. As such, any business
relationship with the company should be mutually beneficial.
AREA OF VISIT
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Company Premises
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Corporate Affairs Commission
TYPES OF CUSTOMERS
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General Public,
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Group of Companies
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State and Federal Government etc.
PERFORMANCE RANKING
* Quality of Management: GOOD
* Ethics &
Integrity: GOOD
* Ownership Structure: GOOD
FINANCES
The company’s
Audited Account was not available during our visit. However, based on the services
the company renders and the sector the Company’s estimated turnover could be
put at $10 Million (Ten Million Dollars).
INDUSTRIAL OVERVIEW/ OPERATING ENVIRONMENT
There are many opportunities
in this sector of the economy. This could be largely achieved through Foreign
Companies joint ventures with Nigerian companies, with adequate
Training/Technical Assistance - Provision of training facilities for a large
work force indirectly engaged in the Sub-Sector of the economy. This sector of
the economy has great potentials for intending investors.
CMT REPORT (Corruption, Money Laundering & Terrorism)
Public Notice from various sources including but not limited to: The
Courts, Nigerian Prison Service, Economic & Financial Crimes Commission
(EFCC), National Drug Law Enforcement Agency (NDLEA), National Agency for Food
& Drugs Administration and Control (NAFDAC), Independent Corrupt Practices
and other related offences Commission (ICPC) Etc.
No negative
information on subject from the above agencies.
REMARKS
Having carried out all
necessary verifications on the company, our investigations revealed that shawn and Sheldon Industries Limited is
duly registered in Nigeria with a registered address is located at 11, Bamisile
Street, off Allen Avenue, Ikeja, Lagos State, Nigeria, while its operational
address is located at Block E, Plot 4, Industrial Street, Next to Fountain of
Life Church, behind PZ, inside Zabadene Compound, Ilupeju, Lagos State, Nigeria
The company is into genuine business
transactions. It is an on-going
concern.
Information contained in
the report is mostly from secondary sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.09 |
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1 |
Rs.72.82 |
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Euro |
1 |
Rs.63.43 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.