MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
ALUSTAR
SARL |
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Registered Office : |
Rue
Vincent 2, P.O. Box : 953, Dakar,
Senegal |
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Country : |
Senegal |
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Date of Incorporation : |
August
1995 |
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Com. Reg. No.: |
95
B 768 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Trading
as importers, wholesalers and exporters of aluminium structures and glass
used in the construction industry. |
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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Maximum Credit Limit : |
CFA
Fr 10,000,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company NAME
ALUSTAR
SARL
ADDRESS
Street : Rue Vincent 2
P.O.
Box : 953
Town : Dakar
Country : Senegal
Telephone :
(221) 821 9153
Fax : (221) 821 1512 / 821 9153
E-Mail : alustar@sentoo.sn
SENIOR COMPANY PERSONNEL
Name Position
Hassan
Yazback Managing
Director
Total
Employees : 40
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 Senegal importers.
Opinion
on maximum credit :
CFA Fr 10,000,000
Trade
risk assessment :
Normal
Opinion
on the credit figure of EUR 150,000 :
The
above figure is higher than normally seen in one amount however could prove
admissible in a series of transactions provided the total indebtedness is
strictly monitored.
PRINCIPAL BANKERS
NAME :
COMPAGNIE BANCAIRE DE L'AFRIQUE OCCIDENTALE (CBAO)
Branch :
Place de l'Independance
PO
Box :
129
Town :
Dakar
Telephone : (221) 823 1000
Account
No. : 36 102 565 H
The
company also has an account with :
Societe
Generale Des Banques Au Senegal
Avenue
Roume
PO
Box : 323
Dakar
Telephone : (221) 839 5500
Fax :
(221) 821 9119
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : CFA Fr 400,000,000 - 1996 -
exact
: not given - 1997/8/9/0
: CFA Fr 410,000,000
- 2001 - exact
: not given 2002 - 2003
: CFA Fr 150,000,000 - 2004 - exact
: CFA Fr 313,873,332 - 2005 - exact
: CFA Fr 423,000,000 - 2006 - exact *
Net
Profit : not given but stated to be
profitable
*
10 month result
LEGAL STATUS AND HISTORY
Date
Started : August 1995
C.R.
No. : 95 B 768
Authorised
& Paid up Capital : CFA Fr 1,000,000 (increased from CFA Fr 500,000).
Societe
a Responsibilite Limitee (Limited Liability Company) with the following sole
shareholder :
Hassan
Yazback
(Senegalese
national of Lebanese ethnic origin, born in Senegal)
ACTIVITIES
The
Company is involved in the following activities :
Trading
as importers, wholesalers and exporters of aluminium structures and glass used
in the construction industry.
Imports
from France, Tunisia, Spain and other European countries.
Exports
to Mauritania, Mali and Guinea.
Owners
and operators of a carpentry workshop.
FACILITIES
The
Company has the following facilities :
Rented
administrative offices, workshop and storage facilities located at the heading
address, warehouse and workshop in the suburb of Dakar.
SPECIAL NOTE
You
gave reg no 97B1782.
Please
note the correct number is 95 B 768
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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