|
Report No. : |
322233 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
BECKERS INDUSTRIAL COATINGS LTD |
|
|
|
|
Registered Office : |
K 33 Lagos-Badagry Expressway Agbara, Lagos |
|
|
|
|
Country : |
Nigeria |
|
|
|
|
Date of Incorporation : |
15.04.2002 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Manufacture and distribution of industrial coatings, resins and paints |
|
|
|
|
No of Employees : |
250 employees |
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 |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Nigeria |
B1 |
B1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
NIGERIA ECONOMIC OVERVIEW
Following an April 2014 statistical "rebasing" exercise, Nigeria has emerged as Africa's largest economy, with 2014 GDP estimated at US$ 479 billion. Oil has been a dominant source of government revenues since the 1970s. Regulatory constraints and security risks have limited new investment in oil and natural gas, and Nigeria's oil production contracted in 2012 and 2013. Nevertheless, the Nigerian economy has continued to grow at a rapid 6-8% per annum (pre-rebasing), driven by growth in agriculture, telecommunications, and services, and the medium-term outlook for Nigeria is good, assuming oil output stabilizes and oil prices remain strong. Fiscal authorities pursued countercyclical policies in 2011-2013, significantly reducing the budget deficit. Monetary policy has also been contractionary. Following the 2008-9 global financial crises, the banking sector was effectively recapitalized and regulation enhanced. Despite its strong fundamentals, oil-rich Nigeria has been hobbled by inadequate power supply, lack of infrastructure, delays in the passage of legislative reforms, an inefficient property registration system, restrictive trade policies, an inconsistent regulatory environment, a slow and ineffective judicial system, unreliable dispute resolution mechanisms, insecurity, and pervasive corruption. Economic diversification and strong growth have not translated into a significant decline in poverty levels - over 62% of Nigeria's 170 million people live in extreme poverty. President JONATHAN has established an economic team that includes experienced and reputable members and has announced plans to increase transparency, continue to diversify production, and further improve fiscal management. The government is working to develop stronger public-private partnerships for roads, agriculture, and power.
|
Source
: CIA |
SUBJECT'S
NAME
|
|||||
|
|
|
||||
|
Registered Name: |
BECKERS
INDUSTRIAL COATINGS LTD |
||||
|
Requested Name: |
BECKERS INDUSTRIAL COATINGS LTD |
||||
|
Other Names: |
None |
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
ADDRESS
AND TELECOMMUNICATION
|
|||||
|
|
|||||
|
Physical Address: |
K
33 Lagos-Badagry Expressway Agbara, |
||||
|
|
Lagos, |
||||
|
Country: |
Nigeria |
||||
|
Phone: |
234-7036901914/7033735655 |
||||
|
Fax: |
234-7036901914 |
||||
|
Email: |
info-ng@beckers-group.com |
||||
|
Website: |
www.beckers-group.com |
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
CREDIT
OPINION
|
|||||
|
|
|
||||
|
Financial Index as of
December 2014 shows subject firm with a medium risk of credit. However, bank
and credit information obtained reveal a history of prompt payments. |
|||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
LEGAL
|
|
||||
|
|
|
||||
|
Legal Form: |
Limited Corporation |
||||
|
Date Incorporated: |
15-April-2002 |
||||
|
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 |
|||
|
Dr. Karsten Eller |
Group
COO |
|
|||
|
Mr. Olivier Laune |
Group
CFO |
|
|||
|
Dr. Bernd Vogel |
Director |
|
|||
|
Mr. Giordano Mettus |
Director |
|
|||
|
Dr. Christian Kober |
Director |
|
|||
|
Becker industrial Coatings Group |
Holding
Co. |
100% |
|||
|
_______________________________________________________________________ |
|||||
|
|
|||||
RELATED
COMPANIES
|
|||||
|
|
|
||||
|
Becker industrial
Coatings Group |
Parent company. |
||||
|
None |
Subsidiary company. |
||||
|
Various worldwide listed
below |
Affiliated companies. |
||||
|
None |
Shareholder of subject
firm. |
||||
|
None |
Branches of the firm |
||||
|
___________________________________________________________________________ |
|||||
|
|
|||||
OPERATIONS
|
|||||
|
|
|||||
|
Registered to operate
manufacture and distribution of industrial coatings, resins and paints |
|||||
|
Imports: |
Asia, Africa |
||||
|
Exports: |
None |
||||
|
Trademarks: |
None |
||||
|
Terms of sale: |
Cash (60%) and 25-90 days (40%), invoices. |
||||
|
|
|
||||
|
Main Customers: |
Industries, firms and organizations |
||||
|
Employees: |
250 employees. |
||||
|
Vehicles: |
Several motor vehicles. |
||||
|
Territory of sales: |
Nigeria |
||||
|
Location: |
Owned premises, 100,000 square feet, |
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
AUDITORS
AND INSURANCE
|
|||||
|
|
|
||||
|
Auditors: |
Information not
available. |
||||
|
Insurance Brokers: |
Information not
available. |
||||
|
|
|
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
FINANCE
|
|
||||
|
|
|
||||
|
Currency Reported: |
Nigerian Naira (NGN.) |
||||
|
Approx. Ex. Rate: |
1 US Dollar = 197.66
Nigerian Naira |
||||
|
Fiscal Year End: |
December 31, 2014 |
||||
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
||||
|
|
|||||
|
Financial Information not
Submitted |
|
||||
|
|
|
||||
|
|
|
||||
|
Profit and Loss
(expressed in NGN.) |
|||||
|
|
|
2014 |
|||
|
Sales |
|
2,500,000,000 |
|||
|
_______________________________________________________________________ |
|||||
|
|
|||||
BANK
|
|
||||
|
|
|
||||
|
Bank Name: |
Standard
Chartered Bank |
||||
|
Branch: |
Nigeria |
||||
|
Comments: |
None |
||||
|
|
|
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
TRADE REFERENCES
|
|||||
|
|
|
||||
|
Experiences: |
Good |
||||
|
|
|
||||
|
_______________________________________________________________________ |
|||||
|
NOTARIAL BONDS |
None |
||||
|
_______________________________________________________________________ |
|||||
|
|
|||||
COMMENTS
/ ADDITIONAL INFORMATION
|
|||||
|
|
|
||||
|
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
|||||
|
AFFILIATED
COMPANIES
|
|
|
|
SOAB AB |
|
|
BECKER INDUSTRIAL PRODUCTS AB |
|
|
BECKER ACROMA HOLDING AB |
|
|
BECKER ACROMA KB |
|
|
BECKER ACROMA GROUP AB |
|
|
BECKER ACROMA A/S |
|
|
BECKER ACROMA SPOL.S R.O. |
|
|
BECKER ACROMA UKRAINE LTD |
|
|
BECKER ACROMA BENELUX N.V. |
|
|
BECKER ACROMA BELARUS LTD |
|
|
BECKER ACROMA EASTERN EUROPE AB |
|
|
S.C. BECKER ACROMA BALKAN S.R.L. |
|
|
OY BECKER ACROMA AB |
|
|
UAB BECKER ACROMA |
|
|
A/S BECKER ACROMA |
|
|
BECKER ACROMA POLSKA SP.Z O.O. |
|
|
ZAO BECKER ACROMA |
|
|
KLINTENS AB |
|
|
BECKER ACROMA SAS |
|
|
KLINTENS LACK HANDELSGES.MBH |
|
|
BECKER ACROMA INC. |
|
|
KLINTENS HOLDING EUROPE BV |
|
|
BECKER ACROMA ITALIA S.P.A |
|
|
WILH. BECKER HOLDING GMBH |
|
|
BECKER INDUSTRIELACK GMBH |
|
|
BECKER ACROMA ARTI GMBH |
|
|
KUHN & KLEMMER GMBH |
|
|
BECKER ACROMA (THAILAND) LTD |
|
|
BECKER ACROMA CHINA LTD |
|
|
BECKER ACROMA HOLDINGS CORP |
|
|
BECKER ACROMA CORP. |
|
|
BECKER ACROMA LLC |
|
|
BECKER ACROMA (IRELAND) LTD |
|
|
BECKER ACROMA LTD |
|
|
SYNTEMA SCOTLAND LTD |
|
|
CHILTERN SURFACE COATINGS LTD |
|
|
KLINTENS INTERNATIONAL AR |
|
|
BECKER ACROMA (DUBLIN) LTD |
|
|
BECKER ACROMA QUINGDAO TRADING LTD |
|
|
BECKER ACROMA QUINGDAO CO LTD |
|
|
BECKER ACROMA VIETNAM CO LTD |
|
|
BECKER INDUSTRIAL COATINGS HOLDING AB |
|
|
TEGO BECKER S.R.L. |
|
|
SIQUAM S.P.A. |
|
|
SIQUAM INKS ITALY S.R.L. |
|
|
BECKERS ITALIA S.P.A. |
|
|
BECKER INDUSTRIE SA |
|
|
BECKER PINTURA ESPANA SA |
|
|
SCI DES ILES DE MARS |
|
|
BECKER IND COATINGS LLC (RAK) RAS AL KHAIMAH, UAE |
|
|
BECKER HIGH PERFORMANCE COATINGS |
|
|
BECKER INDUSTRIAL COATINGS (SHANGHAI) LTD |
|
|
BECKER INDUSTRIAL COATINGS INC |
|
|
BERGER BECKER COATINGS (PVT) LIMITED |
|
|
BECKER INDUSTRIAL COATINGS (GUANGHZHOU) LTD |
|
|
BECKER FARBY PRZEMYSLOWE SP.Z O.O. |
|
|
BECKER INDUSTRIAL COATINGS (M) SDN. BHD |
|
|
BECKER INDUSTRIAL COATINGS (VIETNAM) CO LTD |
|
|
BECKER INDUSTRIAL COATINGS AB |
|
|
BECKER INDUSTRIAL COATINGS (HK) LTD |
|
|
BECKER INDUSTRIAL COATINGS (KOREA) LTD |
|
|
BECKER INDUSTRIAL COATINGS (CHINA) LTD |
|
|
BECKER INDUSTRIAL COATINGS RUSSIA MOSCOW |
|
|
BECKER HOLDINGS LTD UK |
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs. 63.55 |
|
|
1 |
Rs. 99.86 |
|
Euro |
1 |
Rs. 72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
DPT |
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 |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
-- |
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.