MIRA
INFORM REPORT
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Report Date : |
31.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SOCIETE POUR LE COMPOUNDAGE EN COTE D'IVOIRE
SA |
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Registered Office : |
Rue des
Petroliers, Zone Industrielle de Vridi, P. O. Box 01 BP 3622, Abidjan 01 |
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Country : |
Ivory Coast Republic (Cote D'Ivoire) |
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Date of Incorporation : |
1973 |
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Com. Reg. No.: |
CI-ABJ-1974-B-12368 |
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Legal Form : |
Joint
Stock Company |
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Line of Business : |
Manufacturers, exporters and distributors of
a wide range of chemical products and compounds for the plastic 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
200,000,000 |
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Status : |
Satisfactory
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Payment Behaviour : |
Usually
correct |
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Litigation : |
Clear |
COmpany NAME
SOCIETE POUR LE
COMPOUNDAGE EN COTE D'IVOIRE SA
ADDRESS
Street : Rue des Petroliers
Area : Zone Industrielle de Vridi
P.O. Box :
01 BP 3622
Town : Abidjan 01
Country : Ivory Coast Republic (Cote D'Ivoire)
Telephone :
(225) 2127 4348 / 2127 4078
Fax : (225) 2127 2481 / 2127 2117
E-Mail : info@scci.ci
Shortform Name
SCCI
SENIOR COMPANY
PERSONNEL
Name Position
1. Mustapha Khalil Chairman
/ Founder
2. Salah El Khalil President
3. Hussein Khalil Managing
Director
4. Magdi El Radi Commercial Director
5. Avril Xavier Administrative & Financial Director
Total Employees
250
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a well
established company operating since 1973. Subject is a member of the Eurofind
Group of companies, which comprises several companies in Cote D'Ivoire, Senegal
and Nigeria, owned by the Khalil family.
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
Ivory Coast Republic importers.
Opinion on maximum credit
: CFA Fr 200,000,000
Trade risk assessment : Normal
PRINCIPAL BANKERS
NAME :
SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE (SGBCI)
Branch :
Main Branch
Street :
Avenue Joseph Anoma No. 5-7
P.O. Box : 01 BP 1355
Town :
Abidjan 01
Telephone : (225) 2020 1234
Fax :
(225) 2020 1486
Acc. No. : 116 304 559-92
The Company also has
accounts with the following banks :
1. Banque Internationale
pour le Commerce et l'Industrie de la Cote
d'Ivoire (BICICI)
Avenue Franchet d'Esperey
01 BP 1298
Abidjan 01
Tel: (225) 2020 1600
Fax: (225) 2020 1700
Acc. No. : 09561 0000. 17 000-79
2. Ecobank Cote d'Ivoire
Immeuble Alliance Avenue Terrasson de
Fougeres
01 BP 4107
Abidjan 01
Tel: (225) 2031 9200
Fax: (225) 2021 8816
E-mail: ecobankci@ecobank.com
3. Societe Ivoirienne de
Banques (SIB)
Boulevard de la Republique No. 34
01 BP 1300
Abidjan 01
Tel: (225) 2020 0000
Fax: (225) 2032 9741
Subject previously had an
account with Banque Paribas Cote d'Ivoire SA.
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr
5,080,331,000 - 1991 - exact
: CFA Fr
4,832,719,000 - 1992 - exact
: CFA Fr
4,809,165,000 - 1993 - exact
: CFA Fr 12,000,000,000 - 1994 - exact
: CFA Fr 12,000,000,000 - 1995 - exact
: CFA Fr
17,500,000,000 - 1996 - exact *
: CFA Fr 22,000,000,000 - 1997 - exact
: CFA Fr 20,000,000,000 - 1998 - exact
: CFA Fr 20,000,000,000 - 1999 - exact
: CFA Fr 20,000,000,000 - 2000 - exact
: CFA Fr 23,000,000,000 - 2001 - exact
: CFA Fr 21,000,000,000 - 2002 - exact
: CFA Fr 20,000,000,000 - 2003 - exact
: CFA Fr 20,000,000,000 - 2004 - exact
: CFA Fr 20,400,000,000 - 2005 - exact
: CFA Fr 20,500,000,000 - 2006 - approx
Net Profit :
CFA Fr 258,538,000 - 1991 - exact
: CFA Fr
258,898,000 - 1992 - exact
: CFA Fr
197,147,000 - 1993 - exact
: CFA Fr
290,000,000 - 1994 - exact
: CFA Fr
300,000,000 - 1995 - exact
: not given
- 1996 - 2006 **
* Financial year ended 30
September.
** but stated to be
profitable
Financial year ends 31
December.
LEGAL STATUS AND
HISTORY
Date Started : 1973
History : Subject was established in 1973.
The present group structure and shareholding were
changed on 25 January 1993.
C.R. No. : CI-ABJ-1974-B-12368 (formerly
12368)
Fiscal ID No. : 7401730-B
Authorized & Paid up
Capital : CFA Fr 1,800,000,000 (increased from CFA Fr 900,000,000)
Societe Anonyme (Joint
Stock Company) with the following shareholders :
Percentage
1. Eurofind Participations
SA 70 %
Rue des Petroliers
P.O. Box 3622
Zone Industrielle de Vridi
Abidjan
Tel : (225 21) 272 610
Owned by the Khalil family
2. Minority private
investors 30 %
Affiliated companies of
Societe pour le Compoundage en Cote d'Ivoire SA :
Associates
Subject is a member of
the Eurofind group of companies, headed by Eurofind Participations SA, which
includes :
1. Societe des Tubes
d'Acier et d'Aluminium de Cote d'Ivoire SA
(SOTUBA)
Zone Industrielle de Yopougon
01 BP 2747
Abidjan 01
Tel: (225) 2351 5454
Fax: (225) 2351 5454
(Manufacturers of metal barrels, domestic
ware, tools and
metal tubes)
2. Societe Africaine des
Eaux Minerales (SADEM)
01 BP 1843
Abidjan 01
Tel: (225) 2145 3780 / 2145 3755 / 2123
3000 (admin)
Fax: (225) 2124 2033
(Producers and distributors of sparkling
and still mineral water)
Est. in 1979.
3. Ste Senegalaise des
Produits Chimiques SARL (SSPC)
Rue Mage Parchappe
BP 11386
Dakar
Senegal
Tel: (221) 822 6001
Fax: (221) 822 0286
Est. in 1995
4. Societe Agricole et
Industrielle de Bettie (SAIBE)
01 BP 3622
Abidjan 01
Tel: (225) 2127 2610
Fax: (225) 2127 2117
(Plantation of caoutchouc)
5. Generale Ivoirienne du
Bois (GIB) SA
06 BP 316
Abidjan 06
Tel: (225) 2240 3016
Fax: (225) 2240 3220
E-Mail: gib@aviso.ci
Est. in 1953.
(Manufacturers, distributors and exporters
of wood, interior and
garden furniture and semi-finished wood
products)
6. Ivoire Torrefaction
7. Societe des Tubes
d'Acier et d'Aluminium de Cote d'Ivoire SA
(SOTACI)
Zone Industrielle de Yopougon
01 BP 2747
Abidjan 01
Tel: (225) 2351 5454
Fax: (225) 2346 6925 / 2346 6928
8. Eurolait SA
Zone Industrielle de Yopougon
01 BP 3622
Abidjan 01
Tel: (225) 2346 6923 / 2346 6655
Fax: (225) 2346 9798 / 2346 6925
E-Mail: ehurtado@eurolait.ci
(Manufacturers of dairy products)
9. Societe De Compoundage
(Nigeria) Ltd (SCN)
16/18 Young Shall Grow Road
by Navy Gate Satellite
Lagos
Nigeria
Tel: (234 1) 775 3053 / 545 2105
Fax: (234 1) 545 2107 / 545 2105
E-Mail: scnltd@hperia.com
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers, exporters
and distributors of a wide range of chemical products and compounds for the
plastic industry.
Brand names : Eurovyl and
Eurocol.
Imports from USA, France,
Italy, Germany and Belgium.
Exports to Ghana,
Nigeria, Burkina Faso, Cameroun, Republic of Guinea, Democratic Republic of
Congo, People's Republic of Congo, Senegal, Sierra Leone, Tanzania, Togo and
Mali.
FACILITIES
The Company has the
following facilities :
Owned premises comprising
12,000 square metre of administrative offices, two manufacturing plants, sales
outlet and storage facilities located on 30,000 square metre plot of land 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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