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Report Date : |
28.03.2014 |
IDENTIFICATION DETAILS
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Name : |
AWARD GLOBAL PHARMACEUTICALS COMPANY LIMITED |
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Registered Office : |
13 Olawale Dawudo Street,
Ifako-Gbagada, Lagos, Ifako-Gbagada,
Lagos |
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Country : |
Nigeria |
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Date of Incorporation : |
10.04.2008 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in pharmaceutical products and related medicinal drugs Subject products
ranges includes ·
Multivitamins ·
Creams ·
Injections ·
Drops ·
Antibiotics ·
Analgesics |
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|
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No. of Employees |
30 |
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Nigeria |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
Nigeria ECONOMIC OVERVIEW
Oil-rich Nigeria has been hobbled by political instability, corruption, inadequate infrastructure, and poor macroeconomic management, but in 2008 began pursuing economic reforms. Nigeria's former military rulers failed to diversify the economy away from its overdependence on the capital-intensive oil sector, which provides 95% of foreign exchange earnings and about 80% of budgetary revenues. Following the signing of an IMF stand-by agreement in August 2000, Nigeria received a debt-restructuring deal from the Paris Club and a $1 billion credit from the IMF, both contingent on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris Club. In November 2005, Abuja won Paris Club approval for a debt-relief deal that eliminated $18 billion of debt in exchange for $12 billion in payments - a total package worth $30 billion of Nigeria's total $37 billion external debt. Since 2008 the government has begun to show the political will to implement the market-oriented reforms urged by the IMF, such as modernizing the banking system, removing subsidies, and resolving regional disputes over the distribution of earnings from the oil industry. GDP rose strongly in 2007-12 because of growth in non-oil sectors and robust global crude oil prices. President JONATHAN has established an economic team that includes experienced and reputable members and has announced plans to increase transparency, diversify economic growth, and improve fiscal management. Lack of infrastructure and slow implementation of reforms are key impediments to growth. The government is working toward developing stronger public-private partnerships for roads, agriculture, and power. Nigeria's financial sector was hurt by the global financial and economic crises, but the Central Bank governor has taken measures to restructure and strengthen the sector to include imposing mandatory higher minimum capital requirements.
Source
: CIA
Registered Name: AWARD GLOBAL PHARMACEUTICALS COMPANY
LIMITED
Requested Name: AWARD
GLOBAL CO LTD.
Trade Names: AWARD
GLOBAL PHARMA
Physical Address: 13 Olawale Dawudo Street,
Ifako-Gbagada, Lagos
Ifako-Gbagada, Lagos
Country: Nigeria
Phone: 234-14827414/8030832088/8156847257/7098020934
Fax: 234-8030832088
Email: info@awardglobal.com/ sales@awardglobal.com/
secretary@awardglobal.com/ accounts@awardglobal.com
Website: www.awardglobal.com
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 10-April-2008
Reg. Number: Nigeria
Nominal Capital NGN. 1,000,000
Subscribed Capital NGN. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Michael Eyisi Director
Mr. Jude-Martins
Izunobi Manager
None Parent company.
GREAT MADONNA PHARMACY STORE LTD Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
Branches of the firm
2 Mission Road, by
St. Joseph Catholic Church, Ekwulobia, Aguata L.G.A, Anambra State, Nigeria
Registered to operate as dealers in pharmaceutical products and related
medicinal drugs
Subject products
ranges includes
·
Multivitamins
·
Creams
·
Injections
·
Drops
·
Antibiotics
·
Analgesics
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: General
Public, Local agencies, Medical firms and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Nigeria
Location: Leased
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Nigerian Naira (NGN.)
Approx. Ex. Rate: 1 US Dollar = 165.19 Nigerian Naira
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 NGN.)
2013
Sales 458,000,000
Bank Name: First City Monument Bank
Branch: Nigeria
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.60.13 |
|
UK Pound |
1 |
Rs.99.65 |
|
Euro |
1 |
Rs.82.91 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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 |
|
|
-- |
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.