MIRA INFORM REPORT
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Report Date : |
20.01.2012 |
IDENTIFICATION DETAILS
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Name : |
AYRTON DRUG MANUFACTURING LTD |
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Registered Office : |
B1/24, Abeka Road Tesano, Accra |
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Country : |
Ghana |
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Financials (as on) : |
31.03.2010 (Un-audited) |
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Date of Incorporation : |
24.09.1965 |
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Com. Reg. No.: |
2086 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacture, Wholesaling
and Retailing of Pharmaceutical Products |
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No. of Employees : |
410 |
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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Maximum Credit Limit : |
USD 250,000 |
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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
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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: AYRTON DRUG MANUFACTURING LTD.
Requested Nam:: AYRTON DRUG MANUFACTURING
LTD.
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: B1/24, Abeka
Road Tesano, Accra
Head Office Address: NR CMB Flats,
Mokose Road Tesano, Accra
Postal Address: P.o. Box 2149
Accra
Country: Ghana
Phone: 233-21-245090
222235/226761
Fax: 233-21-241804
Email: info@ayrtondrugs.com
Website: www.ayrtondrugs.com
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 250,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 24-Sept-1965
Reg. Number: 2086
Nominal Capital GHS. 4,475,000
Subscribed Capital GHS. 4,475,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Richard Adu-Poku Chairman
Mr.
Samuel Adjepong Director 30%
Mr.
Frank Amoako Boateng Director
Mr.
Yaw Adu Gyamfi Director
Mrs. Frances
Jane Adjepong Director 20%
Mrs.
Linda Sangari Director 10%
Mrs.
Belinda Opoku Director
Mr.
Mital Patel Director
Mr.
Opoku Amponsah Secretary
Public
Shareholders Shareholders 40%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Kumasi, Takoradi and Tamale in Ghana Branches of the firm
OPERATIONS
Registered to operate manufacture, wholesaling
and retailing of pharmaceutical Products
Imports: Asia, China,
Europe
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash (40%) and 30
days (60%), invoices.
Main Customers: firms
and organizations
Employees: 410
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Ghana
Location: Owned
premises, 65.000 square feet,
AUDITORS AND INSURANCE
Auditors: K E Wood & Co
Insurance Brokers: AII Assurance
FINANCE
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 1.72 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 Submitted below
Profit and Loss (expressed in GHS.)
2010 2011
Sales 4,089,228 5,630,000
BANK
Bank Name: Ghana Commercial Bank Ltd.
Branch: International Trade Finance Div Trade Service
Dept. Tower House
Circle Branch, Accra, Ghana
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.50.28 |
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UK Pound |
1 |
Rs.77.60 |
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Euro |
1 |
Rs.64.66 |
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 |
- |
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.