MIRA INFORM REPORT

 

 

Report Date :

16.04.2012

 

IDENTIFICATION DETAILS

 

Name :

EMSONS TECHNICAL SUPPLIES AND SERVICES NIGERIA LIMITED

 

 

Registered Office :

31, Princess Street, Lagos Island, Lagos State

 

 

Country :

Nigeria

 

 

Date of Incorporation :

12.03.1981

 

 

Com. Reg. No.:

RC: 38047

 

 

Legal Form :

Private Limited Company

 

 

Line of Business :

Sales of Electrical Accessories

 

 

No. of Employees :

Not Available

 

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

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 

 

EMSONS TECHNICAL SUPPLIES AND SERVICES NIGERIA LIMITED

 

OPERATIONS

 

Based on our secondary sources, the company engages in Sales of Electrical Accessories

 

 

COMPANY LOCATION

 

The company’s address 2nd Floor, 6, Ojo Street, Idumota, Lagos Island, Lagos State, Nigeria COULD NOT BE LOCATED.

 

 

IDENTIFICATION

 

COMPANY NAME:                                 EMSONS TECHNICAL SUPPLIES & SERVICES NIGERIA LIMITED

REGISTERED NAME:                            EMSONS TECHNICAL SUPPLIES & SERVICES NIGERIA LIMITED

REGISTERED ADDRESS:                      31, Princess Street, Lagos Island, Lagos State, Nigeria

HEAD OFFICE ADDRESS:                     2nd Floor, 6, Ojo Street, Idumota, Lagos Island, Lagos State,

Nigeria. (COULD NOT BE LOCATED)

TELEPHONE:                                        234-1-2621467, 688462 (Could not be reached)

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:                       UNDETERMINED

DATE INCORPORATED:                        12th March, 1981

YEAR BEGAN OPERATIONS:                1981

LEGAL FORM:                                      Private Limited Company

REGISTRATION NO:                             RC: 38047

SHARE CAPITAL:                                 100,000.00

ISSUED CAPITAL:                                100,000.00

PAID-UP CAPITAL:                               100,000.00

STAFF STRENGHT:                              Undetermined

 

 

OWNERSHIP/SHAREHOLDING STRUCTURE

 

  1. Emmanuel Ogbonnaya

31, Princess Street, Lagos Island, Lagos State, Nigeria

 

  1. Amos Afolabi                

31, Princess Street, Lagos Island, Lagos State, Nigeria

 

  1. Bernard Chukwuafu                   

31, Princess Street, Lagos Island, Lagos State, Nigeria

 

  1. Mathani Hotehand

31, Princess Street, Lagos Island, Lagos State, Nigeria

 

  1. Makanjuola Theresa F.

24, Pedro Street, Lagos Island, Lagos State, Nigeria

 

  1. Mahtani Sureeh M.

9, Sumbo Jibowu Street, South West Ikoyi, Lagos State, Nigeria

 

  1. Employees Trust Fund

6, Ojo Street, Idumota, Lagos State, Nigeria

 

  1. Nwokolo Michael

29, Docemo Street, Lagos State, Nigeria

 

  1. N. Felix E.

20, Hassan Street, Orile Iganmu, Lagos State, Nigeria

 

  1. Obioha Ezekiel M.                    

29, Agun Lasolo Street, Ijeshatedo, Surulere, Lagos State, Nigeria

 

 

DIRECTORS  

                                                                                   

  1. Emmanuel Ogbonnaya
  2. Amos Afolabi
  3. Bernard Chukwuafu
  4. Mahthani Hotehand
  5. Makanjuola Theresa F.
  6. Mahthani Sureeh M.
  7. Nwokolo Michael
  8. N. Felix E.
  9. Obioha Ezekiel M.

 

 

BACKGROUND

 

Emsons Technical Supplies and Services Nigeria Limited was incorporated on 12th March, 1981 with Registration Number (RC: 38047). The corporate head office given as 2nd Floor, 6, Ojo Street, Idumota, Lagos State, Nigeria COULD NOT BE LOCATED.

 

During our visit on 12th April, 2012, we could not locate the street in Lagos Island, most people we spoke with told us that there is only one street known as Ojogiwa Street in Lagos Island and not OJO STREET. According to them, Ojo Street is unknown. We proceeded to No. 6, Ojogiwa Street but the company could not be found at the address which is a Mosque and the people around confirmed not knowing the company by that name. All efforts to contact the company through phone numbers (234-1-2621467, 688462) obtained from our secondary sources proved abortive as the lines do not go through.  We also visited their registered address (31, Princess Street, Lagos Island, Lagos State, Nigeria) but company and its directors are not known.

 

Conclusion:  Based on our visit and our findings, we are of the opinion that the company exists but could not be located due to incomplete or incorrect address. We hereby advise that any business relationship with the company should be done on cash and carry basis until the correct address is provided and verified. 

 

 

TYPES OF CUSTOMERS

·        UNDETERMINED

 

 

PERFORMANCE RANKING

 

* Quality of Management:          UNDETERMINED

* 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 Emsons Technical Supplies and Services Nigeria Limited is duly registered in Nigeria with a registered address located at 31, Princess Street, Lagos Island, Lagos State, Nigeria, while its operational address 2nd Floor, 6, Ojo Street, Idumota, Lagos Island, Lagos State, Nigeria COULD NOT BE LOCATED.

 

Information contained in the report is mostly from secondary sources ONLY.

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.51.42

UK Pound

1

Rs.81.93

Euro

1

Rs.67.67

 

 

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.