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Report Date : |
12.04.2014 |
IDENTIFICATION DETAILS
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Name : |
HAVI-PIS COMMODITIES HOUSE LTD |
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Registered Office : |
Ring Road North Industrial Area, Accra North |
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Country : |
Ghana |
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Year of Establishments: |
2011 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Engaged in mining and exploration services |
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No. of Employees |
20 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
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. In late 2010,
Ghana was recategorized as a lower middle-income country. 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 producing
close to target levels. Additional oil projects are being developed and are
expected to come on line in a few years. Estimated oil reserves have jumped to
almost 700 million barrels and Ghana’s growing oil industry is expected to
boost economic growth as the country faces the consequences of two years of
loose fiscal policy, high budget and current account deficits, and a
depreciating currency. President MAHAMA faces challenges in managing a
population that is unhappy with living standards and that perceives they are
not reaping the benefits of oil production because of political corruption.
|
Source
: CIA |
Registered Name: HAVI-PIS COMMODITIES HOUSE LTD
Requested Name: HAVI
PLS COMMODITIES HOUSE
Other Names: None
Physical Address: Ring Road North
Industrial Area,
Accra North
Postal Address: P. o. Box 14711
Accra North
Country: Ghana
Phone: 233-508722662
Fax: None
Email: truth118@yahoo.com
Website: None
Financial Index as of December 2013 shows subject firm with a medium risk
of credit. We recommend Secured Credit.
Legal Form: Limited Corporation
Date Incorporated: 2011
Reg. Number: Ghana
Nominal Capital GHS. 1,000,000
Subscribed Capital GHS. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Williams Kwame
Amoah CEO
Mr. Peace Anderson Manager
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate mining and exploration services
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Industries,
firms and organizations
Employees: 20
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Ghana
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Ghanaian Cedi (GHS.)
Approx. Ex. Rate: 1 US Dollar = 2.77 Ghanaian Cedi
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in GHS.)
2013
Sales 15,000,000
Bank Name: Fidelity Bank Ghana Limited
Branch: Ghana
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.60.26 |
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UK Pound |
1 |
Rs.101.09 |
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Euro |
1 |
Rs.83.73 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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 |
-- |
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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.