MIRA INFORM REPORT

 

 

Report Date :

27.01.2012

 

IDENTIFICATION DETAILS

 

Name :

NATIONAL DRAINAGE & IRRIGATION AUTHORITY

 

 

Registered Office :

Regent & Vlissengen Roads, P.O. Box 1001 Georgetown

 

 

Country :

Guyana

 

 

Year of Establishment :

2004

 

 

Legal Form :

Government Agency

 

 

Line of Business :

Water management and use planning.

 

 

No. of Employees :

68

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

USD 90,000.00

Status :

Satisfactory

Payment Behaviour :

No Complaints

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)

Guyana

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

GEOPOLITICS – GUYANA

 

POLITICAL DATA

ECONOMIC DATA

Form of Government: Republic


Economic Risk: Present

Currency: 100 GYD = 0.49 USD

Branch Situation: Stable

 

 

IDENTIFICATION

 

Ordered as:

National Drainage & Irrigation Authority

Address in the order:

Ministry of Agriculture Regent Street and Vissenggen Rd Bdurda Georgetown

 

 

Legal Name:

National Drainage & Irrigation Authority

Trade Name:

NDIA

Legal Address

Regent & Vlissengen Roads, P.O. Box 1001 Georgetown, Guyana

 

 

Telephone:

(592) 226-1565

Registration Number :

N.A.

Fax:

(592) 227-2978

Legal Form:

Government Agency

Email:

minister@agriculture.gov.gy

Registered in:

Guyana

Website:

http://www.agriculture.gov.gy/

Date Created:

2004

Manager:

Mr. Lionel Wordsworth - Chief Executive Officer

Date Incorporated:

2004

Staff:

68

Stock:

N.A.

 

 

Value:

N.A.

Activity:

Water management and use planning.

 

 

BANKS

 

Name of the Bank

Bank of Baroda

 

 

 

 

 

 

 

 

 

 

 

 

BUSINESS

 

HISTORY

 

The authority has been operating since 2004.

PRINCIPAL ACTIVITY

 

The subject authority is engaged in the water management and use planning.

Products/Services description:

 

The authority provides the following:

 

- The drainage and irrigation systems are operated in a sustainable manner.

- Increased farmer participation through water users associations, local government organs, farmer associations or private entities in the planning, development, operation, maintenance

- Management of the drainage and irrigation services.  Also define the powers and duties of the Authority.

Suppliers:

 

Government of Guyana.

Operations area:

 

National, Local

The company does not import

The company does not export

The subject employs 68 employee(s)

PAYMENTS

 

made on a 55 days basis - monitored over the last 12 months

LOCATION

Headquarters

 

The authority is headquartered at Regent & Vlissengen Roads, P.O. Box 1001 Georgetown, Guyana.

Comments on location:

 

The administrative office of the authority can be found at the above listed address.

Branches:

 

No branches were reported.

 

 

Shareholders - Manager - Related Companies

 

Listed at the stock exchange:

 

NO

Shareholders Parent Company(ies):

 

The authority is owned by the Government of Guyana through the Ministry of Agriculture.

Management:

 

Mr. Lionel Wordsworth, Chief Executive Officer



Financials - COMMERCIAL TRENDS AND FORECAST

 

As a private company the subject does not publish any financial statements.

However our financial sources could provide us with the following data.

 

Those figures are estimates provided by confidential banking and financial institutions working with the company.

 

Currency

DATE

 

USD

2010

 

Turnover

5,400,000

 

Operating Income

110,000

 

Net Income

78,000

 

Net worth

1,000,000

 

Bank liabilities

400,000

 

The cash flow is

normal

 

 

 

Legal Fillings

 The sources consulted record no detrimental legal or labor court information.



Rating

 

Local credit bureau gave a normal credit rate.

 

The company is in Good Standing. This means that all local and federal taxes were paid on due date.

 

 

 Final Opinion

 

The company has 8 years of experience. They currently have the support of 68 employees for this reason it is considered a medium sized company.

 

The company also deals with a well known bank in Guyana.

 

The figures available show that the company has a controlled indebtedness and that the cash is normal.

 

Also, our searches revealed that the payments are regular.

 

Considering the information gathered, we suggest a credit line of USD 90,000.00

 

 

SUMMARY

 


FINANCIAL SUMMARY


DEBT COLLECTIONS AND PAYMENTS

 

Profitability

CORRECT

Public

NO

 

Indebtedness

CONTROLLED

Payments

REGULAR

 

Cash

NORMAL

 

 

 

 



APPENDIX

 

Comments

 

We tried to contact Mr. Lionel Wordsworth but he never was available to help us.

 

However, the secretary advised us to send a fax or email to the authority but so far we have not received any answer.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.02

UK Pound

1

Rs.78.05

Euro

1

Rs.65.13

 

 

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.