MIRA INFORM REPORT
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Report Date : |
18th May 2006 |
IDENTIFICATION DETAILS
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Name : |
CANDYTEX SARL |
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Registered Office : |
Zone Industrielle Aro Talatamaty Antananarivo 101 Madagascar (fmly Malagasy Republic) |
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Date of Incorporation : |
May 2005 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Manufacturers and exporters of work
clothing |
RATING & COMMENTS
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MIRA’s Rating : |
B |
RATING
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STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
CO. NAME
CANDYTEX
SARL (Correct)
CANDYTEX
MADAGASCAR (Requested)
ADDRESS
Street : Zone Industrielle Aro
Area : Talatamaty
Town : Antananarivo 101
Country : Madagascar (fmly Malagasy Republic)
Telephone :
(261 20) 242 4658 / (261) 3240 67052 (mobile)
E-Mail : nivo.candytex@blueline.mg
Also Known
As : Candytex Madagascar
SENIOR COMPANY PERSONNEL
Name Position
Anill
Joyram President / Managing Director
Total
Employees : 728
PAYMENTS
Current
trade experience of payments has not been traced.
Subject is
a newly established company (May 2005) operating since January 2006.
Opinion on
maximum credit :
As the
company has recently started trading and has no financial record, we
recommend
dealing on fully secured terms.
Trade risk
assessment : High
Opinion on
the credit figure of US DLRS 10,000 / 60 days :
See above
comments.
It is
normal accepted practice for international suppliers to deal on secured terms
with Madagascan importers.
PRINCIPAL BANKERS
NAME : BANK OF AFRICA SA
Branch : Main Branch
Street : Place de l'Independance No. 2
PO
Box : 183
Town : Antananarivo 101
Telephone:
(261 20) 223 9100
Fax : (261 20) 222 9408
FINANCIAL INFORMATION
As the
Company has only recently started trading, relevant financial information is
not available.
LEGAL STATUS AND HISTORY
Date
Started : May 2005
History :
Subject was established in Madagascar in May 2005 and started trading in
January 2006.
Capital :
not given
Societe a
Responsibilite Limitee (limited liability company) with the following
shareholders :
1. Anill
Joyram
2. One
undisclosed private sharheolder
ACTIVITIES
The
Company is involved in the following activities :
Manufacturers
and exporters of work clothing.
Imports
from China.
Exports to
USA.
Subject
plans to start exporting to European countries in the near future.
FACILITIES
The
Company has the following facilities :
Office
premises, factory and storage facilities located at the heading address in the
Antananarivo Free Zone.
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 |