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Report Date : |
06.06.2013 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
77B,
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Country : |
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Date of Incorporation : |
19.04.2002 |
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Com. Reg. No.: |
209539 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Distributors of general
products such as Lead, Lead Alloys, Alcoholic beverages, Roofing panels and sheets,
edible oils, food products, household cleaning products etc. |
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No. of Employees : |
30 |
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Ghana |
B2 |
B2 |
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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 |
ghana ECONOMIC OVERVIEW
Ghana's economy
has been strengthened by a quarter century of relatively sound management, a
competitive business environment, and sustained reductions in poverty levels. Ghana
is well endowed with natural resources and agriculture accounts for roughly
one-quarter of GDP and employs more than half of the workforce, mainly small
landholders. The services sector accounts for 50% of GDP. Gold and cocoa
production and individual remittances are major sources of foreign exchange.
Oil production at Ghana's offshore Jubilee field began in mid-December, 2010,
and is expected to boost economic growth. President MAHAMA faces challenges in
managing new oil revenue while maintaining fiscal discipline and resisting debt
accumulation. Estimated oil reserves have jumped to almost 700 million barrels.
Ghana signed a Millennium Challenge Corporation (MCC) Compact in 2006, which
aims to assist in transforming Ghana's agricultural sector. Ghana opted for
debt relief under the Heavily Indebted Poor Country (HIPC) program in 2002, and
is also benefiting from the Multilateral Debt Relief Initiative that took
effect in 2006. In 2009 Ghana signed a three-year Poverty Reduction and Growth
Facility with the IMF to improve macroeconomic stability, private sector
competitiveness, human resource development, and good governance and civic
responsibility. Sound macro-economic management along with higher prices for
oil, gold and, cocoa helped sustain high GDP growth in 2008-12.
|
Source : CIA |
Registered Name: CARSON EXPORTERS PVT LTE
Requested Name: CARSON
EXPORTERS PVT LTE
Other Names: None
Physical Address: 77B, Third Road, Tesano, Accra
North
Postal Address: P. o. Box 2345
Accra North
Country: Ghana
Phone: 233-208123906/302240005
Fax: 233-302240995
Email: carson@4u.com.gh
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 19-April-2002
Reg. Number: 209539
Nominal Capital GHS. 10,000,000
Subscribed Capital GHS. 10,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Sridhar Kandru Director 50%
Mr. Kumar Kandru Director 50%
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as distributors of general products such as Lead,
Lead Alloys, Alcoholic beverages, Roofing panels and sheets, edible oils, food
products, household cleaning products etc
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores, outlets etc
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Leased
premises, 2,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 2 Ghanaian Cedi
Fiscal
Year End: December 31, 2012
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2012 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in GHS.)
2012
Sales 1,000,000
Bank Name: PRUDENTIAL BANK LIMITED
Branch: Tesano Branch ,Accra North,Ghana
Telephone: 233-302258170 / 2258171
Comments: None
Experiences: Good
None
This
information was obtained from outside sources other than the subject company
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
UK Pound |
1 |
Rs.86.54 |
|
Euro |
1 |
Rs.73.86 |
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 |
---- |
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.