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Report Date : |
06.08.2014 |
IDENTIFICATION DETAILS
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Name : |
UNION AUTOPARTS MANUFACTURING COMPANY LIMITED |
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Registered Office : |
60/61, |
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Country : |
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Date of Incorporation : |
02.06.1987 |
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Legal Form : |
Limited
Corporation |
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Line of Business : |
Subject operate
manufacturing of automotive lead-acid battery |
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No. of Employees |
150 |
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
Following an April 2014 statistical "rebasing"
exercise,
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Source
: CIA |
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Registered Name: |
UNION AUTOPARTS
MANUFACTURING COMPANY LIMITED |
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Requested Name: |
UNION AUTOPARTS
MANUFACTURING COMPANY LIMITED |
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Other Names: |
None |
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Physical Address: |
60/61, Igwe Orizu Road, Nnewi, Nnewi North, |
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Postal Address: |
PMB 50132 |
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Anambra, |
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Country: |
Nigeria |
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Phone: |
234-8062535232/46460894/46460665 |
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Fax: |
234-46462894 |
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Email: |
info@ibeto.com/sales@ibeto.com |
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Website: |
www.ibeto.com |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
2-June-1987 |
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Reg. Number: |
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Nominal Capital |
NGN. 1,000,000 |
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Subscribed Capital |
NGN. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Dr.Cletus Madubugwu Ibeto |
Chairman/CEO |
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Sir Augustine A. Nnabuchi |
Director |
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Sir V. O. Agbasimalo |
Director |
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Chief Kofi Obijiofor |
Director |
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Prof. Ben U. C. Aghazu |
Director |
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Mr. Osita G. Anigbogu |
Director |
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Barr. Victor Udeh |
Director |
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Mr. Devender Yadav |
Director |
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Dr. Amamchukwu Ezeike |
Director |
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Ibeto Group |
Holding |
100% |
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_______________________________________________________________________ |
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Ibeto Group |
Parent company. |
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None |
Subsidiary company. |
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Ibeto
Cement Company Ltd., Ibeto
Petrochemical Industries Ltd., Ibg
Investment Company Ltd., Enery
Network Ibg Ltd., Kings
Palace Hotels Ltd., Ibeto
Energy Development Ltd., Eastern
Bulkcem Company Ltd., Palmex Agencies
Ltd., Ibeto
Industries Ltd., Odoh
Holdings Ltd., Ibeto Hotels Ltd. |
Affiliated companies. |
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None |
Shareholder of subject firm. |
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Branches of the firm |
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Registered to operate manufacturing of automotive lead-acid battery |
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Imports: |
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Exports: |
Europe,Asia and |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
150 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Owned premises, 50,000 square feet, |
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Auditors: |
Osita Aguolu & Co. |
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Insurance Brokers: |
Information not available. |
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Currency Reported: |
Nigerian Naira (NGN.) |
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Approx. Ex. Rate: |
1 US Dollar = 161.77 Nigerian Naira |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation at December 31st, 2013 was of 13%. |
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Financial Information not Submitted |
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Profit and Loss (expressed in NGN.) |
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2013 |
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Sales |
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1,255,000,000 |
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Bank Name: |
Keystone Bank Plc |
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Branch: |
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Comments: |
Other Banks |
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Ibeto
Microfinance Bank Ltd. |
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UBA Plc. |
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Access Bank Plc. |
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Diamond Bank Plc. |
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Experiences: |
Good |
None
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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.60.86 |
|
|
1 |
Rs.102.67 |
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Euro |
1 |
Rs.81.69 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
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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.