MIRA
INFORM REPORT
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Report Date : |
11.02.2012 |
IDENTIFICATION DETAILS
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Name : |
EQUATOR FOODS GHANA LIMITED |
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Registered Office : |
Plot 2 & 4, Baatsonaa Spintex, Accra |
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Country : |
Ghana |
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Date of Incorporation : |
14.02.2001 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturer of biscuits |
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No. of Employees : |
60 employees. |
RATING & COMMENTS
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MIRAs 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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Maximum Credit Limit : |
USD 50,000 |
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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 September 30, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Ghana |
B2 |
B2 |
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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 |
SUBJECT'S NAME
Registered Name: EQUATOR FOODS GHANA LIMITED
Requested Name: EQUATOR FOODS
GHANA LIMITED
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Plot 2 &
4, Baatsonaa Spintex, Accra
Postal Address: Plot 2
& 4, Baatsonaa Spintex, Accra
Accra
Country: Ghana
Phone: 233-246630273
Fax: 233-272872389
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2011 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments. We recommend Credit of USD 50,000 on 90
days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 14/02/2001
Reg. Number: Accra, Ghana
Nominal Capital GHS. 1,000,000
Subscribed Capital GHS. 1,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. C. Prakash Director
Mr. M. Deepak GM
RELATED COMPANIES
None Parent company.
None Subsidiary company.
PARLE BISCUITS PVT LTD Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as manufacturer of biscuits
Imports: Asia,
UK
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: General
Public, stores, outlets
Employees: 60
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Rented
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 1.69 Ghanaian Cedi
Fiscal Year End: December
31, 2011
Inflation: According
to information given by independent sources, the inflation at December
31st, 2011 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in GHS.)
2011
Sales 3,500,000
BANK
Bank Name: EXIM Bank
Branch: Accra
Comments: None
TRADE
REFERENCES
Experiences: Good
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.64 |
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|
1 |
Rs.78.35 |
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Euro |
1 |
Rs.65.79 |
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 SCs 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.