MIRA INFORM REPORT

 

 

Report Date :

6th February, 2007

 

IDENTIFICATION DETAILS

 

Correct Name :

COMMERCE GENERAL ET DISTRIBUTION SARL

 

 

Registered Office :

Pres de l'Hotel Hilda, Quartier Ngodi, P.O. Box:  4412, Douala, Littoral, Cameroon

 

 

Country :

Cameroon

 

 

Date of Incorporation :

2002

 

 

Com. Reg. No.:

029048

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers and wholesalers of general merchandise, hardware and building materials.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

CFA Fr 10,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 COMPANY NAME

 

COMMERCE GENERAL ET DISTRIBUTION SARL (Correct)

COMMERCE GENERAL ET DISTRIBUTION "COGEDI" (Requested)

 

ADDRESS

 

Street                           :  Pres de l'Hotel Hilda

Area                             :  Quartier Ngodi

P.O. Box           :  4412

Town                 :  Douala

Province            :  Littoral

Country             :  Cameroon

Telephone         :  (237) 342 7528 / (237) 767 5253 / 991 8471 (mobile)

Fax                   :  (237) 342 7528

E-Mail               :  sdcogedi@yahoo.fr

 

Shortform Name :  COGEDI

 

 

SENIOR COMPANY PERSONNEL

 

Name                            Position

 

David Sop                      Managing Director

 

 

Total Employees : 6

 

 

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 Cameroon importers.

 

Opinion on maximum credit        : CFA Fr 10,000,000

 

Trade risk assessment               : Normal

 

Opinion on the credit figure of EURO 50,000 :

 

The above figure is higher than normally seen in one amount, however could prove admissible in a short series of transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME               : UNION BANK OF CAMEROON PLC (UBC)

Branch              : Agence de Douala

Street                           : Blvd de la Liberte, Akwa

P.O. Box           : 15569

Town                 : Douala

Telephone         : (237) 343 6403 / 342 2508 / 342 2523

Fax                   : (237) 342 2451

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. However, the subject interviewed offered the following information :

 

Sales Turnover               : CFA Fr 500,000,000 - 2006 - exact

 

Net Profit                       : not given

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started      : 2002

 

C.R. No.            : 029048

 

Authorised & Paid up Capital : CFA Fr 1,000,000

 

 

Societe a Responsibilite Limitee (limited liability company) with the following sole shareholder :

 

David Sop                          100 %

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers and wholesalers of general merchandise, hardware and building materials.

 

Imports from France.

 

 

FACILITIES

 

The Company has the following facilities :

 

700 square metre rented premises comprising administrative office, showroom and warehouse located at the heading address.

 

Subject also has a branch office in Bafoussam.

 

RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions