MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
SATOCI
TOGO |
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Registered Office : |
Rue de L'Ecole Cretfp, Zone Franche Industrielle Portuaire, P.O.
Box: 5058 Lome, Lome, Togo |
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Country : |
Togo |
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Date of Incorporation : |
July
2004 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Manufacturers,
distributors and exporters of industrial cellulose derived products such as
nappies, toilet paper, sanitary towels and tissues. |
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
SATOCI
TOGO
ADDRESS
Street : Rue de L'Ecole Cretfp
Area : Zone Franche Industrielle Portuaire
P.O.
Box : 5058 Lome
Town : Lome
Country : Togo
Telephone :
(228) 227 6776 / (228) 925 1177 (mobile)
Fax : (228) 227 6179 / 227 4563
SENIOR COMPANY PERSONNEL
Name Position
1.
Mustafa Skaf President
2.
Ali Ezzedine Managing Director
Total
Employees : 30
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
It
is normal accepted practice for international suppliers to deal on secured
terms with Togo importers
PRINCIPAL BANKERS
NAME :
BIA TOGO (BANQUE INTERNATIONALE POUR L'AFRIQUE AU TOGO)
Branch :
13 rue de Commerce
PO
Box :
346
Town :
Lome
Telephone : (228) 212081
Fax :
(228) 211019
The
company also has an account with the following bank :
Banque
Togolaise pour le Commerce et l'Industrie (BTCI)
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : CFA Fr 400,000,000 - 2004 - exact *
: not given - 2005
: CFA Fr 500,000,000 - 2006 - exact
Profit/Loss :
not given
*
for the period July 2004 to 31 December 2004
LEGAL STATUS AND HISTORY
Date
Started : July 2004
History
: The company was incorporated in Togo in July 2004 and started its activity in
2006 later the Skaf family sold their shares in affiliated companies in Ivory
Coast, namely Societe Africaine de Transformation de la Ouate Cellulose SARL
(SATOCI), Societe Ivoirienne et Alimentaire (SICOA), Compagnie Ivoirienne de
Representation Commerciale et Industrielle (CIREPCI), Groupe de Manutention Ivoirienne
(GMI).
Capital
: CFA Fr 300,000,000
Societe
a Responsibilite Limitee (limited liability company) with the following
shareholders :
1.
Moustopher Skaf 29 %
2.
Marc Skaf 28 %
3.
Nadim Fayad 28 %
4.
Ali Ezzedaine 15 %
ACTIVITIES
The
Company is involved in the following activities :
Manufacturers,
distributors and exporters of industrial cellulose derived products such as
nappies, toilet paper, sanitary towels and tissues.
Imports
from France, Tunisa, China, Lebanon, Ghana, Ivory Coast, Togo, Finland, Italy
and Gabon
Exporters
to Benin, Burkina Faso and Ghana.
Suppliers include :
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Vec Inter
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Forbo Swift
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Fabio Perini
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Luigi Moroni
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Sicomo
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Sidema
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Tunisie Ouste
FACILITIES
The
Company has the following facilities :
Rented
offices, factory and storage facilities comprising located at the heading
address.
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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