MIRA INFORM REPORT
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Report Date : |
5th May 2006 |
IDENTIFICATION DETAILS
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Name : |
IMS GENERAL ELECTRIC SARL |
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Registered Office : |
13317, Yaounde Centre, Cameroon |
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Date of Incorporation : |
1992 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Importers, wholesalers and retailers of
electrical products |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
Regular |
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Litigation : |
Clear |
CO. NAME
IMS
GENERAL ELECTRIC SARL
ADDRESS
P.O. Box :
13317
Town : Yaounde
Province :
Centre
Country : Cameroon
Telephone :
(237) 221 6048 / (237) 775 9737 (mobile)
Fax : (237) 221 6048
E-Mail : imsgelec@yahoo.fr
SENIOR COMPANY PERSONNEL
Name Position
Mohaman
Issa Managing Director
Total
Employees : 14
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for SMALL amounts, although it
is normal accepted practice for international suppliers to deal on secured
terms with Cameroon importers.
Opinion on
maximum credit : CFA Fr 3,500,000
Trade risk
assessment : Normal
PRINCIPAL BANKERS
NAME : SOCIETE GENERALE DE BANQUE AU CAMEROON
SA
Branch : Main Branch
Street : Ave Monseigneur Vogt No 220
PO
Box : 700
Town : Yaounde
Telephone:
(237) 223 4005
The
company also has an account with the following bank :
Standart
Chartered Bank Cameroon SA
Corporate
and Institutional
Avenue de
L'Independence
BP 1784
Yaounde
Tel: (237)
222 7700
Fax: (237)
222 2646
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : CFA Fr 100,000,000 - 2004 - exact
: CFA Fr 150,000,000 - 2005 - exact
Net
Profit : not given -
2004
: CFA Fr 25,000,000
- 2005 - exact
Financial
year ends 31 December.
LEGAL STATUS AND HISTORY
Date
Started : 1992
C.R. No. :
2003B344
Authorised
& Paid up Capital : CFA Fr 15,000,000
Societe a
Responsibilite Limitee (limited liability company) with the following
shareholders :
1. Mohaman
Issa
2. Wife of
the above
ACTIVITIES
The
Company is involved in the following activities :
Importers,
wholesalers and retailers of electrical products.
Imports
from Tunisia and Spain.
FACILITIES
The
Company has the following facilities :
Administrative
offices, retail/wholesale outlet and storage facilities situated in Yaounde.
Subject
also has a branch office in Douala.
RATING EXPLANATIONS
RATING
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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 |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
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 |