MIRA
INFORM REPORT
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Report Date : |
09.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
SOCIETE D'ECHANGE COMMERCIAL ET DE DISTRIBUTION DE COTE D'IVOIRE SARL |
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Registered Office : |
Zone Industrielle de Vridi, P. O. Box 18 BP 943, Abidjan 18 |
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Country : |
Ivory Coast Republic (Cote D'Ivoire) |
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Date of Incorporation : |
2000 |
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Com. Reg. No.: |
CI-ABJ-2003-M 1495 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Importers, distributors and wholesalers of general merchandise and foodstuff such as biscuits and chocolates. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Satisfactory
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Payment Behaviour : |
No
Complaints |
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Litigation : |
Clear |
COMPANY NAME
SOCIETE D'ECHANGE COMMERCIAL ET DE DISTRIBUTION DE COTE D'IVOIRE SARL
ADDRESS
Street : Zone Industrielle de Vridi
P.O. Box : 18 BP 943
Town : Abidjan 18
Country : Ivory Coast Republic (Cote D'Ivoire)
Telephone : (225) 2121 7979 / 2127 4071 / 2127 4052
Fax : (225) 2121 7980
E-Mail : salam@afnet.net
Shortform Name
SECODIS-CI
Formerly Known As
SECDCI
SENIOR COMPANY
PERSONNEL
Name Position
Abdoulsalam El Cheikh Managing Director
Total Employees
27
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 Ivory Coast importers.
Opinion on maximum credit : CFA Fr 15,000,000
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
Account No. : 132B2884024
The company also has an account with the following banks:
1. BIAO Cote d'Ivoire
Avenue Joseph Anoma No. 8-10
01 BP 1274
Abidjan 01
Tel: (225) 20200720
Fax: (225) 20200700
2. Societe Ivoirienne de Banques (SIB)
Boulevard de la Republique No. 34
01 BP 1300
Abidjan 01
Tel: (225) 2020 0000
Fax: (225) 2032 9741
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr 625,000,000 - 2004 - approx
: CFA Fr 700,000,000 - 2005 - approx
Net Profit : not given
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : 2000
History : Subject was incorporated in Ivory Coast in 2000 as "Societe d'Echange Commercial et
de Distribution de Cote d'Ivoire SARL" (SECDCI). In 2003 subject changed its shortform
name to SECODIS-CI.
C.R. No. : CI-ABJ-2003-M 1495 (formerly 260460)
Fiscal ID No. : 0175029D
Authorised & Paid up Capital : CFA Fr 10,000,000
Societe a Responsibilite Limitee (limited liability company) with the following sole shareholder :
Abdoulsalam El Cheikh 100 %
ACTIVITIES
The Company is involved in the following activities :
Importers, distributors and wholesalers of general merchandise and foodstuff such as biscuits and chocolates.
Imports from Turkey and France.
Subject projects to start exporting to Mali and Burkina Faso in the near future.
FACILITIES
The Company has the following facilities :
2,100 square metre leased premises comprising administrative offices and wholesale outlet located on a 5,000 square metre plot of land at the heading address.
The company has another leased wholesale outlet in Adjame, Abidjan.
Subject closed its wholesale outlet in Komassi, Abidjan in 2005).
Subject also owns 5 delivery vehicles, 1 truck and 6 official cars.
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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