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Report Date : |
10.07.2012 |
IDENTIFICATION DETAILS
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Name : |
LAWMACO INTERBIZ LIMITED |
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Registered Office : |
12, |
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Country : |
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Date of Incorporation : |
27.04.1992 |
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Com. Reg. No.: |
RC. 191815 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The company engages in importation and sales of Vehicle Sales, Services, auto parts and accessories such as plugs, filler, Sealant, Super Glue, Gasket Maker etc |
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No. of Employees : |
About 5 employees |
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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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 – March 31st, 2012
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Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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B1 |
B1 |
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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 |
LAWMACO
INTERBIZ LIMITED
The company engages in importation and sales of Vehicle Sales, Services, auto parts and accessories such as plugs, filler, Sealant, Super Glue, Gasket Maker etc.
The company address located at Zone B, Block 2, Suite 63/64, Aspamda Plaza,
Trade Fair Complex, Lagos State, Nigeria.
COMPANY NAME: LAWMACO INTERBIZ LIMITED
REGISTERED NAME: LAWMACO INTERBIZ LIMITED
SECTOR: AUTOMOBILE
SPARE PARTS
REGISTERED ADDRESS: 12,
Abija Court, Isale-Eko, Idumota, Lagos State. Nigeria
HEAD OFFICE ADDRESS: Zone B, Block 2,
Suite 63/64, Aspamda Plaza, Trade Fair Complex, Lagos State, Nigeria
PREVIOUS ADDRESS: 12,
Abija Court, Isale-Eko, Idumota, Lagos State. Nigeria
POSTAL ADDRESS: P. O. Box 4334, Festac Town, Lagos. Nigeria
TELEPHONE: 234-1-3428440, 3208190 (Not reachable)
MOBILE: 234-803-323-0512, 803-338-9062
E-MAIL: filtex@lawmaco.com, lawmacointerbiz@yahoo.com , lawmaco200@hotmail.com
WEBSITE: www.lawmaco.com
Currency: All monetary quoted in this report are in Nigerian
Naira, the local currency or unless otherwise stated. The exchange rate is N150
to 1 US $.
NATURE OF PREMISES: Leased
office space approximately 800 square meters
DATE INCORPORATED: 27th
April, 1992
YEAR BEGAN OPERATIONS: 1992
LEGAL FORM: Private
Limited Company
REGISTRATION NO: RC.
191815
SHARE CAPITAL: 10,000,000.00
ISSUED CAPITAL: 10,000,000.00
STAFF STRENGHT: About
5
12, Abijo Court, Isale Eko, Lagos. Nigeria
12, Abijo Court, Isale Eko, Lagos. Nigeria
12, Abijo Court, Isale Eko, Lagos. Nigeria
Lawmaco Interbiz Limited was incorporated on 27th
April, 1992 with Registration Number (RC: 191815). Its corporate head office is
located at Zone B, Block 2, Suite 63/64, Aspamda Plaza, Trade Fair Complex,
Lagos State, Nigeria. The company’s two standard suites of which both are used
for showroom and office operations.
The company engages in importation and sales of Vehicle,
Services, auto parts and accessories such as plugs, filler, Sealant, Super
Glue, Gasket Maker etc.
During our visit to Lawmaco Interbiz Limited on 6th July,
2010, we spoke with Emilia Daniel, Sales Manager (234-806-337-1305) who acknowledged
our document. He confirmed the telephone numbers and disclosed that the company
engages in sales of vehicles and spare parts and managed by Mr. Lawrence
Agu (Managing Director). She also confirmed that the company was
previously located at12, Abija Court, Isale-Eko, Idumota, Lagos State. Nigeria.
Meanwhile, we sighted some
of the company’s products displayed on the shelf in the company’s showroom.
Business activities were also witnessed as some of the company’s customers
besieged the company to purchase the products.
Note: The company increased its share capital from 200,000.00 to
9,800,000.00 in September, 2010 and later to 10,000,000 in December, 2010.
Conclusion: Based
on our visit and discussion with Emilia Daniel (Sales Manager), we are of the
opinion that the company engages in business at the premises. As such, any
business relationship with the company should be mutually beneficial.
PRODUCT
DESCRIPTION
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Vehicles
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Plugs,
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Filler,
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Sealant,
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Super Glue,
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Gasket Maker etc
TYPES OF CUSTOMERS
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General Public
·
Group of Companies
·
Organisations etc.
PERFORMANCE
RANKING
* Quality of
Management: GOOD
* Ethics &
Integrity: GOOD
* Ownership
Structure: GOOD
Subject Audited
Accounts was not available as at the time of compiling this report. However,
based on the industry the company belongs to and services rendered, the
company’s estimated turnover could be put at $1 Million (One Million Dollars).
There are many opportunities in this sector of the
economy. This could be largely achieved through Foreign Companies joint
ventures with Nigerian companies, with adequate Training/Technical Assistance -
Provision of training facilities for a large work force indirectly engaged in
the Sub-Sector of the economy. This sector of the economy has great potentials
for intending investors.
(Corruption, Money
Laundering & Terrorism)
Public Notice from
various sources including but not limited to: The Courts, Nigerian Prison
Service, Economic & Financial Crimes Commission (EFCC), National Drug Law
Enforcement Agency (NDLEA), National Agency for Food & Drugs Administration
and Control (NAFDAC), Independent Corrupt Practices and other related offences
Commission (ICPC) Etc.
No negative information on subject from the above agencies.
Having carried
out all necessary verifications on the company, our investigations revealed
that Lawmaco Interbiz Limited is
duly registered in Nigeria with a registered address is located at
12, Abija Court, Isale-Eko, Idumota, Lagos State, Nigeria, while its operational address is Zone B, Block 2,
Suite 63/64, Aspamda Plaza, Trade Fair Complex, Lagos State, Nigeria.
Information contained in
the report is mostly from secondary sources.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.56.02 |
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UK Pound |
1 |
Rs.86.78 |
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Euro |
1 |
Rs.68.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 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.