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Report Date : |
26.07.2014 |
IDENTIFICATION DETAILS
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Name : |
BHAGYA LAXMI IMPEX LTD |
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Registered Office : |
Diamond House Room No 7 1st Floor, |
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Country : |
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Date of Incorporation : |
02.04.2012 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operate as a mining company |
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No of Employees : |
10 |
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 – March 31, 2014
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Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Ghana |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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
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Source
: CIA |
SUBJECT'S NAME
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Registered Name: |
BHAGYA LAXMI
IMPEX LTD |
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Requested Name: |
BHAGYA LAXMI IMPEX LTD |
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Other Names: |
None |
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ADDRESS AND TELECOMMUNICATION
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Physical Address: |
Diamond
House Room No 7 1st Floor, Kinbu Road |
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Postal Address: |
P.
o. Box No M108 |
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Accra |
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Country: |
Ghana |
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Phone: |
233-3032664931/4 Ext 108 |
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Fax: |
233-3032664932 |
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Email: |
info@blimpex.biz/ jignesh@blimpex.biz/ gauravviradia@blimplex.biz |
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Website: |
www.blimpex.biz |
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CREDIT OPINION
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Financial Index as of December
2013 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
02/04/2012 |
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Reg. Number: |
Ghana |
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Nominal Capital |
GHS.
100,000 |
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Subscribed Capital |
GHS.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr Jignesh Viradia |
Director |
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Mr. Gaurav Kulkarni |
Director |
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Mr. Abeb Mohammed Muntari |
Manager |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
a mining company |
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Imports: |
None |
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Exports: |
Asia |
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Trademarks: |
None |
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Terms of sale: |
Cash (80%) and 25-90 days (20%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ghana |
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Location: |
Rented premises, 1,500 square feet, |
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AUDITORS AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Ghanaian Cedi (GHS.) |
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Approx. Ex. Rate: |
1 US Dollar = 3.34
Ghanaian Cedi |
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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 GHS.) |
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2013 |
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Sales |
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5,000,000 |
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BANK
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Bank Name: |
Access
Bank |
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Branch: |
Ghana |
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Comments: |
None |
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COMMENTS / ADDITIONAL
INFORMATION
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This information was obtained
from outside sources other than the subject company itself and confirmed the
above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 60.14 |
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1 |
Rs. 102.21 |
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Euro |
1 |
Rs. 81.01 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
DPT |
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.