MIRA
INFORM REPORT
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Report Date : |
25th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
COMPAGNIE
GENERALE SENEGALAISE SARL |
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Registered Office : |
Immeuble
Ndindi, 5eme Etage, Rue Marchand No. 2 angle Autoroute Prolongee, P.O.
Box: 1292, Dakar Port, Dakar, Senegal |
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Country : |
Senegal |
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Date of Incorporation : |
2004 |
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Com. Reg. No.: |
SN-DKR-2004-B-14600 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Importers
and distributors of rice, soap, tissues and insectivides. |
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 100,000,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
Company NAME
COMPAGNIE
GENERALE SENEGALAISE SARL (Correct)
COGESEN
(Requested)
ADDRESS
Building
: Immeuble Ndindi, 5eme Etage
Street : Rue Marchand No. 2 angle Autoroute Prolongee
P.O.
Box : 1292, Dakar Port
Town :
Dakar
Country : Senegal
Telephone :
(221) 842 8920 / (221) 637 3399 (Managing Director) / 510 7073 (Deputy
Managing
Director)
Fax : (221) 842 8921
E-Mail : cogesen1@sentoo.sn / salame.yehya@gmail.com
Shortform
Name : COGESEN
SENIOR COMPANY PERSONNEL
Name Position
1.
Mohamed Zaidan Managing Director
2.
Yehya Salame Deputy Managing Director
Total
Employees : 12
PAYMENTS
No
complaints have been heard regarding payments from local suppliers
or
banks.
We
consider it is acceptable to deal with subject for MEDIUM amounts, although it
is normal accepted practice for international suppliers to deal on secured
terms with Senegalese importers.
Opinion
on maximum credit : CFA Fr
100,000,000
Trade
risk assessment : Normal
Opinion
on the credit figure of EURO 300,000 :
The
above figure is higher than normally seen in one amount, however could prove
admissible if split into two transactions provided the total indebtedness is
strictly monitored.
TRADE REFERENCES
NAME :
NOVEL COMMODITIES SA
Street :
Rue des Caroubiers No. 21
Town :
1227 Carouge
Country :
Switzerland
Telephone
: (41 22) 307 8307
Fax :
(41 22) 307 8300
NAME :
ADAM AFRIQUE SARL
Street :
Rue des Travailleurs, ZI Koumassi
P.O.
Box :
18 BP 597
Town :
Abidjan 18
Country :
Ivory Coast
Telephone
: (225) 2121 4900
Fax :
(225) 2136 2944
PRINCIPAL BANKERS
NAME :
BANQUE ISLAMIQUE DU SENEGAL (BIS)
Branch
:
Main Branch
Street :
Immeuble A. Faycal, Rue Amadou A. Ndoye angle Rue Huart
P.O.
Box : 3381-CP 18, 524 DKR RP
Town :
Dakar
Telephone : (221) 849 6262
Fax :
(221) 822 4948
E-mail :
contact@bis-bank.com
The
company also has an account with the following banks:
1.
Societe Generale des Banques au Senegal (SGBS)
Av. du President Leopold Sedar Senghor No.
19
BP 323
Dakar
Tel :
(221) 839 5500
Fax :
(221) 823 9036
2.
Compagnie Bancaire de l'Afrique Occidentale (CBAO)
Place de l'Independance
BP 129
Dakar
Tel :
(221) 839 9696
Fax :
(221) 823 2005
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : EURO 7,350,000 - 2005 - exact
: EURO 12,000,000 -
2006 - projected
: EURO 24,000,000 -
2007 - projected
Net
Profit : not given
Financial
year ends 31 December.
LEGAL STATUS AND HISTORY
Date
Started : 2004
C.R.
No. : SN-DKR-2004-B-14600
Fiscal
ID No. : 24419132B2
Authorised
& Paid up Capital : CFA Fr 1,000,000 (will be increased to CFA Fr 5,000,000
in the near future)
Societe
a Responsibilite Limitee (limited liability company) with the following shareholders
:
1.
Mohamed Zaidan
2.
Wife of the above
Affiliated
companies of Compagnie Generale Senegalaise SARL :
Associates
Cogegui
Lda
Avenida
do Brazil
Bissau
Guinea
Bissau
Tel : (245) 203 635 / 720 0194 / 665 2020
E-Mail : mzaidan@eguitel.com
ACTIVITIES
The
Company is involved in the following activities :
Importers
and distributors of rice, soap, tissues and insectivides.
Exclusive
distributors for Saveur Thai (rice) and Detox (insecticide).
Overseas
suppliers include :
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Novel Commodities SA, Switzerland;
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Adam Afrique, Ivory Coast;
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Kanco, Egypt.
Imports
rice from Thailand (through Switzerland); soap from Ivory Coast, insecticide
from Egypt and tissues from Tunisia.
FACILITIES
The
Company has the following facilities :
Rented
administrative offices located at the heading address.
Subject
also rents a depot in Reubeuse, Dakar.
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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