MIRA INFORM REPORT

Report Date :

19.11.2011

IDENTIFICATION DETAILS

Name :	NEIGHBOURS P & S LIMITED
Registered Office :	28 Oguntona Crescent, Gbagada Phase 1, Lagos State
Country :	Nigeria
Date of Incorporation :	26.02.2009
Com. Reg. No.:	RC: 802923
Legal Form :	Private Limited Company
Line of Business :	----

RATING & COMMENTS

MIRA’s Rating :

C

RATING		STATUS	PROPOSED CREDIT LINE
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended

Status :	Undetermined
Payment Behaviour :	---
Litigation :	---

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 – September 30^th, 2011

Country Name	Previous Rating (30.06.2011)	Current Rating (30.09.2011)
Nigeria	b1	b1

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

NEIGHBOURS P & S LIMITED

OPERATIONS

THE COMPANY IS COULD NOT BE DETERMINED

COMPANY LOCATION

The company COULD NOT BE located at the given address: 28, Oguntona Crescent, Gbagada Phase 1, Lagos State, Nigeria.

RISK FACTORS

Credit Risk

RISK RATING ASSESSMENT: NOT FULLY RATED DUE TO INSUFFICIENT INFORMATION

IDENTIFICATION

COMPANY NAME: NEIGHBOURS P & S LIMITED

REGISTERED NAME: NEIGHBOURS P & S LIMITED

REGISTERED ADDRESS: 28 Oguntona Crescent, Gbagada Phase 1, Lagos State, Nigeria

HEAD OFFICE ADDRESS: 28 Oguntona Crescent, Gbagada Phase 1, Lagos State, Nigeria

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 US $.

SUMMARY

NATURE OF PREMISES: Leased office space approximately 500 square meters

DATE INCORPORATED: 26th February, 2009

YEAR BEGAN OPERATIONS: 2009

LEGAL FORM: Private Limited Company

REGISTRATION NO: RC: 802923

SHARE CAPITAL: 1,000,000.00

ISSUED CAPITAL: 1,000,000.00

PAID-UP CAPITAL: 1,000,000.00

STAFF STRENGHT: Undetermined

OWNERSHIP/SHAREHOLDING STRUCTURE

Names %Held

1. Chiweze A. Ukwuoma 40%

28, Oguntona Crescent, Ghagada Phase 1, Lagos State, Nigeria

2. Gladys Ngozi Ukwuoma 40%

28, Oguntona Crescent, Ghagada Phase 1, Lagos State, Nigeria

3. Chinenye Sonia Ukwuoma 10%

28, Oguntona Crescent, Ghagada Phase 1, Lagos State, Nigeria

4. Kelechi Allen Ukwuoma 10%

28, Oguntona Crescent, Ghagada Phase 1, Lagos State, Nigeria

DIRECTORS

1. Chiweze A. Ukwuoma
2. Gladys Ngozi Ukwuoma
3. Chinenye Sonia Ukwuoma
4. Kelechi Allen Ukwuoma

BACKGROUND

Neighbours P & S Limited was incorporated on 26th February, 2009 with Registration Number (RC: 802923). The company COULD NOT BE located at the given address located at 28, Oguntona Crescent, Gbagada Phase 1, Lagos State, Nigeria. The addressed building is four flat, a storey building, painted cream and chocolate with black gate by right hand on Oguntona Crescent, the nearest bus stop is First Pedro, Gbagada.

During our visit on 15th November, 2011, we spoke with the security man Mr. Musa who disclosed that there is no such company in the building and it is used as residential building. He stated that there is a company in the next building. When we got there, it was occupied by only First Brand Limited and some okada riders claimed that no other Oguntona Street or Crescent in Phase II when asked. All efforts to locate the company proved abortive as no contact number was provided on the enquiry.

Conclusion: Based on our visit and brief discussion with the security man (Musa) at the address, we are of the opinion that the company exists but the owner of the company might be using the address as a contact address which is not known to people in the building or might have relocated, we advise that any business relationship with the company should be put on hold until more information or detail about the company is provided for further verification as we cannot guarantee its credit worthiness.

PERFORMANCE RANKING

* Quality of Management: GOOD

* Ethics & Integrity: UNDETERMINED

* Ownership Structure: GOOD

FINANCES

 The company’s Audited Account was not available during our visit; therefore, as such, its present financial state could not be ascertained.

INDUSTRIAL OVERVIEW/ OPERATING ENVIRONMENT

UNDETERMINED DUE TO INSUFFICIENT INFORMATION

CMT REPORT

(Corruption, Money Laundering & Terrorism)

UNDETERMINED DUE TO INSUFFICIENT INFORMATION

OFFICIAL REMARKS

Having carried out all necessary verifications on the company, our investigations revealed that Neighbours P & S Limited is duly registered in Nigeria with a registered address is located at 28, Oguntona Crescent, Gbagada Phase 1, Lagos State, Nigeria, while its operational address is located at the same address.

Information contained in the report is mostly from secondary sources.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.51.35
UK Pound	1	Rs.80.97
Euro	1	Rs.68.26

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.