MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Name : |
STE MONICO SARL |
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Registered Office : |
Avenue Du 24 Janvier, opposite Financial Bank, P.O. Box: 12995, Lome,
Togo |
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Country : |
Togo |
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Date of Incorporation : |
14.08.1991 |
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Com. Reg. No.: |
2259 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Importers,
exporters and distributors of building materials. |
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
20,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
COMPANY NAME
STE
MONICO SARL
ADDRESS
Street : Avenue Du 24 Janvier
Area : opposite Financial Bank
P.O.
Box : 12995
Town : Lome
Country : Togo
Telephone :
(228) 221 8124 / 220 5454 / 221 3483
Fax : (228) 222 1230
E-Mail : sskishnani@gmail.com
SENIOR COMPANY PERSONNEL
Name Position
1.
Shankar Kishnani General Manager
2.
Shailesh Kishnani Deputy General Manager
Total
Employees : 25
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
20,000,000
Trade
risk assessment : Normal
PRINCIPAL BANKERS
NAME :
ECOBANK
Branch :
13 rue de Commerce
PO
Box :
346
Town :
Lome
Telephone : (228) 221 2081 / 221 3286
Fax :
(228) 221 1019 / 222 0238
The
company also has an account with :
Bnaque
Togolaise pour le Developement (BTD)
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : CFA Fr 240,000,000 - 1998 - exact
: CFA Fr 250,000,000 - 1999 - exact
: CFA Fr 254,000,000 - 2000 - exact
: CFA Fr 900,000,000 - 2001 - exact
: CFA Fr 1,000,000,000 - 2002 - exact
: CFA Fr 1,000,000,000 - 2003 - approx
: CFA Fr 1,000,000,000 - 2004 - approx
: CFA Fr 1,200,000,000 - 2005 - exact
: CFA Fr 1,200,000,000 - 2006 - exact
Net
Profit : not given but stated to be
between 10 % and 15 %
Financial
year ends 31 December.
LEGAL STATUS AND HISTORY
Date
Started : 14 August 1991
History
: Subject was established in
1991 by Bharat Mirpuri; it was taken over by Shankar
Kishnani in September 1993.
C.R.
No. : 2259
Authorised
& Paid up Capital : CFA Fr 50,000,000 (increased from CFA Fr 5,000,000 in
1999)
Societe
a Responsabilite Limitee (Limited Liability Company) with the following
shareholders :
Percentage
1.
Shankar Kishnani 60 %
2.
Shailesh Kishnani 40 %
(son
of the above)
Affiliated companies of Ste Monico Sarl
:
Associates
1.
Sterling Overseas
India
2.
Starco Internatioanal
India
ACTIVITIES
The
Company is involved in the following activities :
Importers,
exporters and distributors of building materials.
Imports
from Europe, China, Brazil, Turkey, South Africa, India, Ivory Coast and Ghana.
Exports
to Benin, Burkina Faso, Niger, Ivory Coast and Ghana.
FACILITIES
The
Company has the following facilities :
10,000
square feet comprising administrative offices, 4 warehouses, showroom and
retail outlet located at the heading address and another owned warehouse
elsewhere in the country.
Until
2005 subject operated from Rue Koumore, opposite SGGG.
SPECIAL NOTE
The
address which you provided Rue Koumore, opposite SGGG applies to subject's
previous address. Please note the current address is as per heading.
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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