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Report Date : |
28.06.2012 |
IDENTIFICATION DETAILS
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Name : |
KOTCO ENERGY LIMITED |
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Registered Office : |
21, |
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Country : |
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
RC. 37733 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Industrial Engineering Consultancy, Manufacturing and Refurbishment of
Power and Distribution of Transformers |
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No. of Employees : |
20 |
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) |
|
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 |
The company engages is Industrial Engineering Consultancy, Manufacturing
and Refurbishment of Power and Distribution of Transformers
The company address located at Plot No, 102, Isheri Road, Ojodu, Lagos
State, Nigeria.
COMPANY NAME: KOTCO ENERGY LIMITED
REGISTERED NAME: KOTCO LIMITED
REGISTERED ADDRESS: 21,
Ogunnoiki Street, Oworonsoki, Lagos. Nigeria
HEAD OFFICE
ADDRESS: Plot
No, 102, Isheri Road, Ojodu, Lagos State, Nigeria
TELEPHONE: 234-7749681, 345313, 2300035, 7900881, 7949118
MOBILE: 234-803-320-6295, 802-364-7658,
802-930-2427
FAX: 234-2300035
EMAIL: kotpower@yahoo.com, kotpower@hotmail.com,
WEBSITE: www.kotcotransformers.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 1,500 square meters
DATE INCORPORATED: 24th
February, 1981
YEAR BEGAN OPERATIONS: 1981
LEGAL FORM: Private
Limited Company
REGISTRATION NO: RC.
37733
SHARE CAPITAL: 100,000.00
ISSUED CAPITAL: 100,000.00
PAID-UP CAPITAL: 100,000.00
STAFF STRENGHT: Over
20
1.
Kolawole Oyefeso
21, Shonoiki
Street, Oworonsoki, Lagos.
2. Edward O. Ogunbanjo
21, Shonoiki
Street, Oworonsoki, Lagos.
3. Oyefeso Aare Kola
Plot 102, Isheri
Road, Ikeja Lagos
4. Oyefeso Adetutu (Mrs.)
Plot 102, Isheri
Road, Ikeja Lagos
5. Oyefeso Omolara
Plot 102 , Isheri
Road, Ikeja Lagos
6. Oyefeso Adebola
Plot 102, Isheri
Road, Ikeja Lagos
7. Oyefeso Olalekan
Plot 102, Isheri
Road, Ikeja Lagos
8. Oyefeso Seun
Plot 102, Isheri
Road, Ikeja Lagos
9. Oyefeso Olaolu
Plot 102, Isheri
Road, Ikeja Lagos
1. Kolawole
Oyefeso
2. Edward O. Ogunbanjo
3. Oyefeso Aare Kola
4. Oyefeso Adetutu (Mrs.)
5. Oyefeso Omolara
6. Oyefeso Adebola
7. Oyefeso Olalekan
8. Oyefeso Seun
9. Oyefeso Olaolu
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S/N |
Name |
Position |
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1. |
Chief Sanusi |
Chairman |
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2. |
Aare Kola Oyefeso |
Managing Director/CEO |
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3. |
Mr. Funso Adeniran |
Executive Director, Operations |
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4. |
Mr. Shola Anjorin |
Head of Sales |
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5. |
Mr. Omileke Ademola |
Head, Finance/Admin |
Kotco Energy Limited was incorporated on 24th February,
1981 with Registration Number (RC: 37733) as Kotco Limited. Its corporate head office is located at Plot No,
102, Isheri Road, Ojodu, Lagos State, Nigeria. It occupies a storey building painted
black and white with chocolate gate. IBTC Bank occupies the ground floor while
the company occupies the top floor.
The company engages is Industrial Engineering
Consultancy, Manufacturing and Refurbishment of Power and Distribution of
Transformers
During our visit on 21st
June, 2012, we spoke with the Receptionist who refused disclose her name and
also refused to collect our documents but disclosed that the company engages in
Refurbishment of Power and Transformer Distribution across the country, Manufacturing
and Industrial Engineering Consultancy Services. She reiterated further that
the company’s factory is located at Kilometer 54, Lagos-Ibadan Expressway, Ode
Remo, Ogun State, Nigeria.
Moreover,
we discovered that the premises is used purely for Administrative duties and it
serves as a control centre for the total operation within and outside the
state. All efforts to obtain necessary information from another personnel of the company proved abortive as they all
refused to disclose any information.
Conclusion: Based
on our visit and response from the receptionist, we are of the view that the
company runs legitimate business. As such, any business relationship with the
company should be mutually beneficial.
Wema Bank Plc (54, Marina, Lagos Island, Lagos State, Nigeria)
Km. 54, Lagos-Ibadan Expressway, Ode-Remo, Ogun State, Nigeria
(234-1-610091, 430651,)
55, Kumasi Crescent, Off Aminu Kano Crescent, Wuse II, Abuja, FCT,
Nigeria
Tel: (234-9-4139453, 803-314-5249, Fax: 234-9-4139448)
·
General Public
·
Group of Companies
·
Private Company
·
Corporate Organisations etc.
* 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).
Subject is operating in an industry with very great potentials. This sector
in Nigeria has a lot to explore when it comes to the need for expansion,
improvement of product quality, work force development and general technical
expertise. Mainly, private individuals dominate this sector. Despite the huge
capital required for setting up this investment, it has grown in its leaps and
bounds over the decades in the nation, although, the efforts of the Federal
Government cannot be ruled out. The government has put in place different
policies that support private individuals to secure loans/ mortgages from banks
and other financial institutions. However, to record a groundbreaking in this
sector, foreign investors are inevitable.
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.
OFFICIAL REMARKS
Having carried
out all necessary verifications on the company, our investigations revealed
that Kotco Energy Limited is duly
registered in Nigeria with a registered address is located at
21, Ogunnoiki Street, Oworonsoki, Lagos, Nigeria,
while its operational address is located at Plot 102, Isheri Road, Ojodu, Lagos,
Nigeria.
Information contained in
the report are mostly from secondary sources ONLY.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.57.21 |
|
|
1 |
Rs.89.42 |
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Euro |
1 |
Rs.71.46 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
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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 |
|
-- |
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.