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Report Date : |
28.11.2014 |
IDENTIFICATION DETAILS
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Name : |
A G TIMBERS LIMITED |
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Registered Office : |
H/No
Plot 10 Block L Kaasi Industrial Area, P. O. Box 3608, Kumasi |
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Country : |
Ghana |
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Date of Incorporation : |
10.04.1962 |
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Com. Reg. No.: |
1359 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
manufacture of wood and wood based products |
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No of Employees : |
1000 |
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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
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.
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Source
: CIA |
SUBJECT'S NAME
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Registered Name: |
A
G TIMBERS LIMITED |
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Requested Name: |
A G TIMBERS LIMITED |
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Former Names: |
A G TIMBERS AND TRADING LIMITED |
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ADDRESS AND TELECOMMUNICATION
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Physical Address: |
H/No Plot 10 Block L Kaasi Industrial Area |
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Postal Address: |
P. o. Box 3608, |
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Kumasi, |
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Country: |
Ghana |
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Phone: |
233-322023232/312025124/312024236/312021572 |
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Cell: |
233-244418811 |
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Fax: |
233-322028544/312025124 |
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Email: |
agtinfo@najadavidgroup.com/
gaisie@yahoo.com |
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Website: |
www.najadavidgroup.com |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
10/4/1962 |
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Reg. Number: |
1359 |
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Nominal Capital |
GHS. 10,000,000 |
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Subscribed Capital |
GHS.
9,750,000 |
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Subscribed Capital is Subscribed in the
following form: |
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Position |
Shares |
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Mr. Adu Gyamfi Emmanuel |
Chairman |
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Mr. Naja David |
MD |
4,443,750 |
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Mr. G.W. Akuffo Owoo |
Director/GM |
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Mr. Mark W. Shiran |
Director |
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Mr. Daniel Nkansah |
Director |
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Mr. Peter Keily |
Director |
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Mr. Tony Elradi |
Director |
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Mr. John Khalil Gassoub |
Director |
1,500,000 |
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Mr. Nahim Alexander Hage |
Director |
1,125,000 |
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Mr. Elias Naja Moukareel |
Director |
750,000 |
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Mr. Emmanuel Kwadwo Adu Gyamfi |
Director |
600,000 |
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Mr. Elias Habib Zahlan |
Director |
600,000 |
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Mr. Youssef Toufic Zahlan |
Director |
450,000 |
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Mr. Elham Mobarak |
Director |
140,625 |
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Mr. Enam Mobarak |
Director |
140,625 |
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Mr. Vidane Gamachchige Ranil Perera |
Director |
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Mr. Najib Antoine Ziady |
Director |
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Mr. Joseph Millet Mobarak |
Director |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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Naja David Veneer and Plywood Limited, Ayum Forest Products (Mim) Limited, ESBO. |
Affiliated company. |
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None |
Shareholder of subject firm. |
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Adj. Shippers Council, Sekondi-Takoradi |
Branches of the firm |
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OPERATIONS
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Registered to operate as manufacture of wood and wood based products |
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Imports: |
Asia |
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Exports: |
Europe, UK |
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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: |
1000 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Ghana |
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Location: |
Owned premises, 10,000 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: |
Ghanan Cedi (GHS.) |
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Approx. Ex. Rate: |
1 US Dollar = 3.18 Ghanan 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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30,000,000 |
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BANK
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Bank Name: |
Standard Bank |
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Branch: |
Ghana |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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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. Subject is part of Naja Group of Companies. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.61.86 |
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|
1 |
Rs.97.69 |
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Euro |
1 |
Rs.77.37 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
SMN |
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.