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Report Date : |
02.05.2012 |
IDENTIFICATION DETAILS
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Name : |
P P LAWS INVESTMENT LIMITED |
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Registered Office : |
Plot 946, 63 Road, |
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Country : |
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Date of Incorporation : |
26.01.2009 |
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Com. Reg. No.: |
RC: 797597 |
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Legal Form : |
Private
Limited Liability |
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Line of Business : |
Not Available |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Poor |
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Payment Behaviour : |
--- |
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Litigation : |
--- |
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 (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 |
COMPANY NAME: P P LAWS INVESTMENT LIMITED
REGISTERED NAME: P
P LAWS INVESTMENT LIMITED
REGISTERED ADDRESS: Plot 943, 63 Road, 6th Road, Festac Town, Lagos State, Nigeria
HEAD OFFICE ADDRESS: Plot
946, 63 Road, 6th Road, Festac Town, Lagos State, Nigeria (Could not be located in the
area)
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:
Undetermined
DATE INCORPORATED 26th
January, 2009
YEAR BEGAN OPERATION: 2009
LEGAL FORM: Private Limited
Liability
REGISTRATION NO: RC: 797597
SHARE CAPITAL: 3,000,000.00
ISSUED CAPITAL: 2,000,000.00
PAID-UP CAPITAL: 2,000,000.00
STAFF STRENGHT: Undetermined
Name %Held
1. Onumajuru Lawrence 40%
Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria
2. Akuoma Onumajuru 25%
Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria
3. Precious Onumajuru 12.5%
Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria
4. Prosper Onumajuru 12.5%
Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria
5. Wendy Onumajuru 10%
Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria
1. Onumajuru Lawrence
2. Akuoma Onumajuru
3. Precious Onumajuru
4. Prosper Onumajuru
5. Wendy Onumajuru
P P Laws Investment Limited was incorporated with Corporate Affairs Commission on 26th January, 2009 with Registration Number (RC: 797597). We visited Plot 964, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria on 26th April, 2012. Unfortunately, we were unable to locate the company at Plot 946 which was supplied as the company’s address.
The assumed Plot 946 is undeveloped, though it is well
fenced with no plot number on the wall. Having gone round the avenue we
intensified efforts by discussing with the occupants of Plots 943, 950 and 1429
but they all declined information about the company as they claimed such name
is unknown to them. We also applied various means to locate the company which
yielded no result since there was no telephone number or e-mail address of the
company provided on the enquiry.
Conclusion: Based on our visit and discussion held with the residence at the visited address, we are of the view that the company’s name and Plot No. 946 is not known at 63 Road, 6th Avenue, Festac Town, Lagos. Therefore, we advise that any business relationship with the company should be done with extreme caution.
·
UNDETERMINED
* Quality of
Management: Undetermined
* Ethics &
Integrity:
Undetermined
* Ownership
Structure: GOOD
The company’s Audited
Account was not available during our visit; therefore, as such, its present
financial state could not be ascertained.
UNDETERMINED
DUE TO INSUFFICENT INFORMATION
UNDETERMINED DUE TO
INSUFFICENT INFORMATION
Having carried
out all necessary verifications on the company, our investigations revealed
that P P Laws Investment Limited is
duly registered in Nigeria with a registered address is located at Plot 943, 63
Road, 6th Avenue, Festac Town, Lagos State, Nigeria, while its operational address
is located at Plot 946, 63 Road, 6th Avenue, Festac Town, Lagos State, Nigeria.
COULD NOT BE LOCATED.
Information
contained in the report is mostly from secondary sources.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.51 |
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|
1 |
Rs.85.49 |
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Euro |
1 |
Rs.69.61 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
RATING EXPLANATIONS
|
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.