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Report Date : |
14.12.2012 |
IDENTIFICATION DETAILS
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Name : |
BEST SERVICE INC, LIBERIA |
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Registered Office : |
Behind 101 Gas Station, Duport Road, Broad Street, Paynesville City,
Montserrado, Broad Street, Monrovia |
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Country : |
Liberia |
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Date of Incorporation : |
18.09.2012 |
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Com. Reg. No.: |
051046846 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Cargo Handling Company |
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No. of Employees : |
03 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Nb |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
---- |
NB |
New Business |
---- |
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Status : |
New business |
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Payment Behaviour : |
Unknown |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Liberia |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Li beria - ECONOMIC OVERVIEW
Liberia is a low income country heavily reliant on foreign
assistance for revenue. Civil war and government mismanagement destroyed much
of Liberia's economy, especially the infrastructure in and around the capital,
Monrovia. Many businesses fled the country, taking capital and expertise with
them, but with the conclusion of fighting and the installation of a
democratically-elected government in 2006, several have returned. Liberia has
the distinction of having the highest ratio of direct foreign investment to GDP
in the world. Richly endowed with water, mineral resources, forests, and a
climate favorable to agriculture, Liberia had been a producer and exporter of
basic products, primarily raw timber and rubber and is reviving those sectors.
Local manufacturing, mainly foreign owned, had been small in scope. President
JOHNSON SIRLEAF, a Harvard-trained banker and administrator, has taken steps to
reduce corruption, build support from international donors, and encourage
private investment. Embargos on timber and diamond exports have been lifted,
opening new sources of revenue for the government and Liberia shipped its first
major timber exports to Europe in 2010. The country reached its Heavily
Indebted Poor Countries initiative completion point in 2010 and nearly $5
billion of international debt was permanently eliminated. This new status will
enable Liberia to establish a sovereign credit rating and issue bonds.
Liberia's Paris Club creditors agreed to cancel Liberia's debt as well. The IMF
has completed the sixth review of Liberia's extended credit facility, bringing
total disbursements to over $379 million. The African Development Bank approved
a grant of $48 million in 2011 to support economic governance and
competitiveness. Rebuilding infrastructure and raising incomes will depend on
generous financial and technical assistance from donor countries and foreign
investment in key sectors, such as infrastructure and power generation.
Source
CIa
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COMPANY REPORTED: |
BESTS FIVE |
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Actual Names: |
BEST SERVICE INC, LIBERIA |
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Principal Address: |
Water Street, Monrovia, Liberia |
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Telephone: |
+231-6980651/6254570 |
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Cell: |
+231-886518278 |
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Fax: |
+231-6360360 |
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Email: |
None |
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Internet: |
None |
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Established: |
18/09/2012 |
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Registration: |
051046846 |
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Tax number: |
431971003 |
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National ID: |
439847000 |
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Legal Form: |
Sole Proprietorship |
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Stock Listing: |
Not Listed |
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Workforce: |
2012 |
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3 |
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Office & Factories |
||||
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Head offices |
Water Street, Monrovia, Liberia |
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Registered address |
Behind 101 Gas Station, Duport Road, Broad Street, Paynesville City,
Montserrado, Broad Street, Monrovia, Liberia |
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Branches |
None |
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Management/
Directors |
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President/ CEO (1) |
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Name |
Mrs. Romata W. Anderson-Odudu |
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ID/Passport
Number |
L024994 |
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Active in daily
business: |
Active |
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Current Title: |
Chief Executive
Officer |
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Country of residence |
Liberia |
|
Remarks |
Top Decision Maker |
|
GM (2) |
|
|
Name |
Mr. James Fallah |
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Active in daily
business: |
Active |
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Current Title: |
General Manager |
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Country of residence |
Liberia |
Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
No negative information found
|
Share Capital |
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Nominal Capital |
USD. 10,000 |
||
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Paid in Capital |
USD. 10,000 |
||
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Subscribed Capital |
USD. 10,000 |
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Shareholders |
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|
Name |
Position |
Amount |
Ratio |
|
Mrs. Romata W.
Anderson-Odudu |
CEO |
|
100.00% |
|
Mr. James Fallah |
GM |
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Total |
|
|
100.00% |
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Terms
of payment |
|
Buying
terms |
70% in cash, 30% on LC, TT |
|
Selling
terms |
80%
in cash, 20% on credit |
|
|
|
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Suppliers |
Various
companies |
|
Customers |
Firms
and organizations |
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|
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Recent
Sales |
LRD. 8,500,000 (2012 Projected) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
10.0% |
|
Domestic
Market Share |
20.0% |
|
Affiliated Companies |
None |
|
Exchange Rate |
US$ 1 = LRD. 74 |
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Established: |
18/09/2012 |
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Registration: |
051046846 |
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Tax number: |
431971003 |
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National ID: |
439847000 |
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Legal Form: |
Sole Proprietorship |
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Stock Listing: |
Not Listed |
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Workforce: |
2012 |
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|
|
|
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|
3 |
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|
|
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|
Office & Factories |
|||||
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Head offices |
Water Street, Monrovia, Liberia |
||||
|
Registered address |
Behind 101 Gas Station, Duport Road, Broad Street, Paynesville City,
Montserrado, Broad Street, Monrovia, Liberia |
||||
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Branches |
None |
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Business Activities |
Cargo handling
company |
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Business Premises |
1000 Sft |
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Type of occupation
|
Leased |
|
Location |
The subject is located close to a major road network |
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Premises used as
|
Offices |
|
Banking
relationship |
|
|
Main
Banks |
First International Bank (Liberia) |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.23 |
|
UK Pound |
1 |
Rs.87.53 |
|
Euro |
1 |
Rs.70.94 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.