MIRA
INFORM REPORT
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Report Date : |
27th
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
DIAMOND EMPIRE GARMENT SARL |
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Registered Office : |
Lot
148 / 2Ter Ambohijanahary |
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Country : |
Madagascar |
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Date of Incorporation : |
October
2000 |
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Com. Reg. No.: |
2000B511 |
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Legal Form : |
Limited
liability company |
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Line of Business : |
Manufacturers and exporters (100%) of sportwear clothing such as
T-shirts and shorts |
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 : |
Regular
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Litigation : |
Clear |
CO. NAME
DIAMOND
EMPIRE GARMENT SARL
ADDRESS
Street :
Lot 148 / 2Ter Ambohijanahary
Area :
Antehiroka
Town :
Antananarivo 105
Country :
Madagascar (fmly Malagasy Republic)
Telephone : (261 20) 224
8454
Fax :
(261 20) 224 8621
E-Mail : diamondempire@wanadoo.mg
SENIOR COMPANY PERSONNEL
Name
Position
1. Lee York
Leun
Managing Director
(Mauritius national)
2. Harii Fanjanajalonana Financial Manager
Total Employees : 667
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 Madagascan importers.
Opinion on maximum credit : ARIARY 30,000,000
Trade risk assessment : Normal
Opinion on the credit figure of US DLRS 10,000 / 60 days :
We consider the above figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME : SBM MADAGASCAR
Branch : Main Branch
Street : Rue Andrianary Ratianariva No. 1, Antsahavola
Town : Antananarivo 101
Telephone: (261 20) 226 6607-46-47-55
Fax : (261 20) 226 6608
The company also has an account with the following bank :
Union Commercial Bank (UCB)
Antsahavola
Rue Solombacambahoaka
BP 197
Antananarivo
Tel: (212 20) 222 7262
Fax: (212 20) 222 7262
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the
following information :
Sales Turnover
: ARIARY
1,483,200,000 - 2004 - exact
: ARIARY 1,402,200,000 - 2005 - exact
: ARIARY 1,500,000,000 - 2006 - projected
Net Profit : not given
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : October 2000
History : The company was incorporated in Madagascar (fmly Malagasy Republic)
in October 2000.
C.R. No. : 2000B511
Fiscal ID No. : 105006657
Statistic No. : 1801111200001963
Authorised & Paid up Capital : ARIARY 10,000,000
Societe a Responsibilite Limitee (limited liability company) with the following
shareholders :
1. Lee York Leun
(Mauritius national)
2. Three undisclosed foreign investors
Affiliated companies of Diamond Empire Garment SARL :
Associates
Diamond Empire Ltd
Hong-Kong
China
ACTIVITIES
The Company is involved in the following activities :
Manufacturers and exporters (100%) of sportwear clothing such as T-shirts and
shorts.
Imports from China (Hong-Kong).
Exports to USA and Mauritius.
FACILITIES
The Company has the following facilities :
Office premises, factory and storage facilities located at theheading address.
GENERAL INFORMATION
As from 1 January 2005 the Madagascar Fr was replaced by the ARIARY as the currency
of Madagascar, at a rate of ARIARY 1 = M Fr 5.
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 |
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 |