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Report Date : |
23.05.2012 |
IDENTIFICATION DETAILS
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Name : |
WHIZ OIL LIMITED |
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Registered Office : |
12, |
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Country : |
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Date of Incorporation : |
04.08.1986 |
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Com. Reg. No.: |
RC: 87588 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
The company engages in Oil & Gas Services |
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No. of Employees : |
Over 50 |
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 |
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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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
WHIZ OIL LIMITED
The company engages in Oil & Gas Services
The company address located at 4, Pokobros Industrial Avenue, Off Atani
Road, Onitsha, Anambra, Nigeria.
COMPANY NAME: WHIZ OIL LIMITED
REGISTERED NAME: WHIZ OIL LIMITED
REGISTERED ADDRESS: 12,
Nimo Street, Fegge, Iduluwo Street, Onitsha, Anambra State, Nigeria.
HEAD OFFICE ADDRESS: 4,
Pokobros Industrial Avenue, Off Atani Road, Onitsha, Anambra State, Nigeria.
TELEPHONE: 234-46-300129,
46-305050
MOBILE: 234-803-323-0192,
803-320-1963
WEBSITE: www.pokobrosgroup.com
E-MAIL: info@pokobrosgroup.com,
pa.chairman@pokobrosgroup.com
Currency:
All monetary quoted in this report are in Nigerian Naira, the local currency or
unless otherwise stated. The exchange rate is N148 to 1 US $.
NATURE OF PREMISES: Leased
office space approximately 5,000 square meters
DATE INCORPORATED: 4th
August, 1986
YEAR BEGAN OPERATIONS: 1986
LEGAL FORM: Private
Limited Company
REGISTRATION NO: RC:
87588
SHARE CAPITAL: 100,000.00
ISSUED CAPITAL: 100,000.00
PAID-UP CAPITAL: 100,000.00
STAFF STRENGHT: Over
50
12, Nimo Street, Fegge, Onitsha, Anambra
State.
12, Nimo Street, Fegge, Onitsha, Anambra
State.
12, Nimo Street, Fegge, Onitsha, Anambra
State.
12, Nimo Street, Fegge, Onitsha, Anambra
State.
Whiz Oil Limited was incorporated on 4th August,
1986 with Registration Number (RC: 87588). The company’s address in 4, Pokobros
Industrial Avebue, Off Atani Road, Onitsha, Anambra, Nigeria. The company is a
big company where engine oils of different kind are produced.
WHIZ
OIL LIMITED, incorporated in 1986. The company is the sole marketer and
representative of WHIZ Automotive Products. WHIZ Oil Limited is also the
sole agent of WHIZ Automobile Inc. (Malco) Barberton, Ohio, U.S.A. and Enviro
Systems Inc. Texas, USA. The Company has a manufacturing interest hence her
appointment to represent her sister Company, WHIZ Products (W.A) Limited and
Enviro Systems Inc. USA at all levels and obligated to market the local
products, other subsidiary and foreign products of other USA affiliate which
include Internationally-certified,
High-quality Automobile care products.
The chairman, Chief (Dr.) Paul
Amanchukwu Okonkwor's non-relentless attitude towards hard work
is what metamorphosed in the conglomerate known as Pokobros Group [W.A] Limited
which is the subsidiary company of Whiz Oil Limited. The parent company housing
over twenty-two (22) viable subsidiary companies charged with the
responsibility of active ergonomics in the Nigerian economy. In 1961, their
amiable Chairman, Chief Paul Okonkwo, as a young person who believed in
industry proved his mettle beyond imagination by introducing various vehicle
parts and accessories into the Nigerian automobile sector; he also introduced
Austin Fan Blades amongst others, he had the penchant for real-time business. A
goal-getter, in 1982 Chief Okonkwo set to establish a food industry with
negotiation between Simon Foods of England and his good self. This dream
materialized in 1985 with the commissioning of POKOBROS FOODS &
CHEMICAL IND. LTD concerned with the conversion of rice to rice
flour. It is obvious that business seemed good under his managerial experience
and expertise then he decided to crown his automobile care products ambition.
Owing to his wealth of experience in automobile dated back before the war
he incorporated the most adorned WHIZ OIL LIMITED. When the company
started in 1965 it was like a crawling baby, but determination and knack for
hard-work have seen us grow each day. The company has over the years developed
high quality products in these areas and its name has become synonymous with
quality.
Conclusion: Based on our visit,
available facilities sighted coupled with brief discussion held with the
General Manager, we are of the opinion that the company appears to be credit
worthy
Pokobros Group of Companies
4, Pokobros Industrial Avenue, Off Atani Road, Onitsha, Anambra, Nigeria
Tel: 234-46-300129, 46-305050
Mobile: 234-803-323-0192, 803-320-1963
E-mail: info@pokobrosgroup.com, pa.chairman@pokobrosgroup.com
Website: www.pokobrosgroup.com
·
Atta-Aguata Const. Co. Ltd
·
Pokobros Farms [W.A] Limited
·
All Grains [W.A] Limited
·
Ogenna Rice Mills Limited
·
Tivoli Inn [W.A] Ltd
·
Strong Blocks Ind. Ltd
·
Chinyelugo Motors Nig. Ltd
·
Poko Oil Mills [W.A] Limited
·
Whiz Gas Limited
·
Pesaco Chemical Ind. Ltd
·
Tourist Gardens Hotel Limited
·
Union Oak Farms Ind. Limited
·
Pokobros Trading Co. Limited
·
Pokobros Foods & Chem
Ind. Ltd
·
Ozalla Plastics Ent. Ltd
·
Whiz Oil Limited
·
Whiz® Products [W.A] Limited
·
Pokobros® Group [W.A] Limited
·
Oil & Gas Majors
·
Group of companies 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 as at the time of compiling this
report.
Having carried out all necessary
verifications on the company, our investigations revealed that Whiz Oil Limited is duly registered in
Nigeria with a registered address located at 12, Nimo Street, Fegge, Iduluwo
Street, Onitsha, Anambra State, Nigeria, while its operational address is
located at 4, Pokobros Industrial Avenue, Off Atani Road, Onitsha, Anambra
State, Nigeria.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.88 |
|
|
1 |
Rs.86.84 |
|
Euro |
1 |
Rs.70.21 |
INFORMATION DETAILS
|
Report Prepared
by : |
PRL |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.