MIRA
INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
SOCIETE INDUSTRIELLE ET COMMERCIALE DE PAPIER SARL |
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Registered Office : |
Rue des Trophees, P. O. Box 643, Lome |
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Country : |
Togo |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1970 |
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Com. Reg. No.: |
358 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers, exporters and distributors of
toilet paper. |
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 |
COMPANY NAME
SOCIETE INDUSTRIELLE ET COMMERCIALE DE PAPIER SARL
ADDRESS
Street : Rue des Trophees
P.O. Box : 643
Town :
Lome
Country :
Togo
Telephone : (228) 221 6426
Fax :
(228) 221 1071
E-Mail :
sicopa@cafe.tg
Shortform Name
SICOPA
SENIOR COMPANY PERSONNEL
Name Position
1. Raymond Barben
President / Managing Director
2. Guy Barben
Commercial Director
3. Komi Melsah
Import Manager
Total Employees
10-20 (number fluctuates according to the work in hand)
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 Togo importers.
Opinion on maximum credit :
CFA Fr 10,000,000
Trade risk assessment :
Normal
PRINCIPAL BANKERS
NAME : BANQUE TOGOLAISE POUR LE COMMERCE ET
L'INDUSTRIE (BTCI)
Branch : Boulevard du 13 Janvier No. 169
P.O. Box : 363
Town : Lome
Telephone : (228) 221
4641 / 221 4642
Fax : (228) 221 3265
Acc. No. : 90300111
00 190
The company also has an account with the following bank :
Union Togolaise de Banque (UTB)
Agence Centrale
BP 359
Lome
Tel: (228) 221 5002
Fax: (228) 221 2206
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed
offered the following information :
Assets
Fixed assets : CFA Fr 27,547,587 - 2002 - exact
: CFA Fr
32,252,144 - 2003 - exact
: CFA Fr
20,127,083 - 2004 - exact
: CFA Fr
16,276,034 - 2005 - exact
Stocks : CFA
Fr 44,496,808 - 2002 - exact
: CFA Fr
40,058,250 - 2003 - exact
:
CFA Fr 37,856,721 - 2004 - exact
: CFA Fr
43,164,595 - 2005 - exact
Assets ready : CFA
Fr 36,111,852 - 2002 - exact
convertible and : CFA
Fr 36,111,852 - 2002 - exact
available : CFA Fr
23,087,929 - 2003 - exact
: CFA Fr
18,561,699 - 2004 - exact
: CFA Fr
17,597,049 - 2005 - exact
Other assets : CFA Fr
25,240,087 - 2002 - exact
: CFA Fr
29,573,579 - 2003 - exact
:
CFA Fr 42,528,953 - 2004 - exact
: CFA Fr
21,401,689 - 2005 - exact
Total assets : CFA Fr 133,396,334 - 2002 - exact
: CFA Fr 124,971,902 - 2003 - exact
: CFA Fr 119,074,456 - 2004 - exact
: CFA Fr
98,439,367 - 2005 - exact
Capital : CFA Fr
20,000,000 - 2002 - exact
: CFA Fr
20,000,000 - 2003 - exact
: CFA Fr
20,000,000 - 2004 - exact
: CFA Fr
20,000,000 - 2005 - exact
Balance carried : CFA
Fr 39,931,116 - 2002 - exact
: CFA Fr 55,231,353 - 2003 - exact
: CFA Fr 59,824,551 - 2004 - exact
:
CFA Fr 51,395,045 - 2005 - exact
Deferred liabilities : CFA Fr 16,941,961 - 2002 - exact
: CFA Fr 12,550,610 - 2003 - exact
: CFA Fr 6,216,930 - 2004 - exact
: CFA Fr 5,500,000 - 2005 - exact
Current liabilities : CFA Fr 41,223,020 - 2002 - exact
: CFA Fr 22,596,741 - 2003 - exact
: CFA Fr 18,812,558 - 2004 - exact
: CFA Fr 12,411,735 - 2005 - exact
Total liabilities : CFA Fr 133,396,334 - 2002 - exact
: CFA Fr 124,971,902 - 2003 -
exact
: CFA Fr 119,074,456 - 2004 -
exact
: CFA Fr 98,439,392 - 2005 - exact
Profit & Loss Account
Sales Turnover : CFA Fr 221,315,267 - 2002 - exact
: CFA Fr 206,364,208 - 2003 -
exact
: CFA Fr 217,533,810 - 2004 -
exact
: CFA Fr 201,777,518 - 2005 -
exact
Net Profit : CFA Fr 15,300,237 - 2002 - exact
: CFA Fr 14,593,198 - 2003 - exact
: CFA Fr 14,222,017 - 2004 - exact
: CFA Fr 9,132,612 - 2005 - exact
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started :
1970
C.R. No. :
358
Authorised & Paid up Capital :
CFA Fr 25,000,000
Societe a Responsibilite Limitee (Limited Liability Company) with
the following shareholders :
1. Raymond Barben
2. Other members of the Barben family
ACTIVITIES
The Company is involved in the following activities :
Manufacturers, exporters and distributors of toilet paper.
Imports from Denmark, Belgium, Spain, France, Sweden, The
Netherlands and South Africa.
Exports occasionally to Benin and Burkina Faso.
FACILITIES
The Company has the following facilities :
Owned offices, factory and storage facilities located at the
heading offices.
Subject formerly operated from Rue Aziakpor, Tokoin, Lome.
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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