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Report Date : |
22.06.2012 |
IDENTIFICATION DETAILS
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Name : |
CRAYMOND NIGERIA LIMITED |
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Registered Office : |
3, |
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Country : |
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Date of Incorporation : |
04.04.1987 |
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Com. Reg. No.: |
RC: 101890 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Engineering & Construction Company, and Supplier for a Variety of
Petroleum Industry Related Engineered Products. |
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No. of Employees : |
Between 51-100 |
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
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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Nigeria |
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 |
CRAYMOND NIGERIA
LIMITED
The company is an Engineering & Construction Company, and
Supplier for a Variety of Petroleum Industry Related Engineered Products.
The company address located at 46, Nembe Road, Rumuibekwe Housing
Estate, Port Harcourt, Rivers State, Nigeria.
COMPANY NAME: CRAYMOND NIGERIA LIMITED
REGISTERED NAME: CRAYMOND NIGERIA
LIMITED
SECTOR: OILFIELD
SERVICES
REGISTERED ADDRESS: 3,
Market Road, Rumuomasi, Port Harcourt, Rivers State, Nigeria
HEAD OFFICE ADDRESS: 46,
Nembe Road, Rumuibekwe Housing Estate, Port Harcourt,
Rivers
State, Nigeria
POSTAL ADDRESS: P.O.
BOX 3846, Port-Harcourt, Rivers State.
TELEPHONE: 234-84-612009,
236948, 612040
FAX: 234-84-612040
E-MAIL: achinda@aol.com,
sec10@phca.linkserve.com
PRIMARY CONTACT: Ms. Raymond Chinda
(Chairman/CEO)
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 500 square meters
DATE INCORPORATED: 4th
April, 1987
YEAR BEGAN OPERATIONS: 1987
LEGAL FORM: Private
Limited Company
REGISTRATION NO: RC:
101890
SHARE CAPITAL: 10,000.00
ISSUED CAPITAL: 10,000.00
PAID-UP CAPITAL: 10,000.00
STAFF STRENGHT: Between 51-100 (Secondary sources information)
3,
Market Road, Rumuomasi, Port Harcourt, Rivers State, Nigeria
3,
Market Road, Rumuomasi, Port Harcourt, Rivers State, Nigeria
3,
Market Road, Rumuomasi, Port Harcourt, Rivers State, Nigeria
Craymond Nigeria Limited was incorporated on 4th
November 1987 with Registration Number (RC: 101890). Its corporate head office
occupies a storey building painted white and red, the fence is painted white
with an ash coloured gate and it is located at 46, Nembe Road, Rumuibekwe
Housing Estate, Port Harcourt, Rivers State, Nigeria.
The company engages in Engineering, Construction
& Oilfield Services, and Supplier of a Variety of Petroleum
Industry Related Engineering Products.
During the our visit on 20th
June, 2012 at exactly 12:10 pm, we were not allowed to enter the premises by
one of their manager on hearing our mission but we obtained some information
from their signboard which indicates that the company engages in Engineering
and Construction Services. All efforts to get information from the security
officers proved abortive as they all remain adamant.
Our secondary sources information indicates
that the company’s services are Building construction, Fencing, Suppliers and
Flowstation upgrade. Craymond is a well-known Nigerian engineering &
construction company, and supplier for a variety of petroleum
industry related engineered products. The company’s activities includes
Project Management, Offshore – Supplier Environment - Pollution Control, Engineering
– Offshore, Supplier - Safety & Rescue Equipment.
Our secondary sources stated further that the
company represents some overseas companies e.g: Beta Fence, Best Pumps, Angus
Fire, Oceaneering. The source stated further that officials of Craymond Nigeria
Ltd recently announced that they have formed a new joint venture with their
long time partners, Integrated Flow Solutions (IFS) of Tyler, Texas, USA.
IFS provides a wide variety of engineered pumping and process systems for the
global energy industry, and had established a considerable population of
equipment packages in Nigeria during the past years. In addition, the
company recently partnered with Knoxville, Tennessee - Aqua-Chem, the leader in
global water solutions as it's new African distributor focusing on the Offshore
Oil & Gas Industry. Craymond Nigeria Limited will market and distribute
Aqua-Chem's Reverse Osmosis, Vapor Compression, and Waste Heat water
purification technology. Craymond Nigeria Limited will serve the countries of
Nigeria, Angola, Liberia, Ghana, and Gabon.
Conclusion: Based
on our visit and premises sighted, we are of the opinion that the company is a
legal entity and engage in business. As such, any business relationship with
the company should be mutually beneficial.
·
General Public
·
Group of Companies
* 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 the services rendered, the
Company’s estimated turnover could be put at $1 Million (One Million
Dollars). Though, secondary sources
information shows Total Annual Sales Volume: US$2.5 Million - US$5 Million
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.
CMT REPORT (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 Craymond Nigeria Limited is duly
registered in Nigeria with a registered address is located at 3, Market Road,
Rumuomasi, Port Harcourt, Rivers State, Nigeria, while its operational address
is located at 46, Nembe Road, Rumuibekwe Housing Estate, Port Harcourt, Rivers
State, Nigeria.
Information contained in
the report is mostly from secondary sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
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|
1 |
Rs.88.45 |
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Euro |
1 |
Rs.71.52 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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.