MIRA
INFORM REPORT
|
Report Date : |
11.07.2007 |
IDENTIFICATION DETAILS
|
Name : |
SOCIETE CHAFIC AZAR ET CIE SA |
|
|
|
|
Registered Office : |
Rue Robert Brun 22, |
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
1956 |
|
|
|
|
Com. Reg. No.: |
5783 B |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Trading as importers and wholesalers of building materials, hardware, sanitary-ware and plumbing supplies. |
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 50,000,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
COmpany NAME
SOCIETE CHAFIC AZAR ET
CIE SA (Correct)
ETS CHAFIC AZAR & CIE
(Requested)
ADDRESS
Street : Rue Robert Brun 22
P.O. Box :
1606
Town :
Country :
Telephone :
(221) 821 4178 / 822 2611
Fax : (221) 822 4568
E-Mail : steazar@sentoo.sn
Shortform Name
CAC
SENIOR COMPANY
PERSONNEL
Name Position
Daher Azar General
Director
Total Employees
50
PAYMENTS
No complaints have been
heard regarding payments from local supplier or banks.
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
Opinion on maximum credit
: CFA FR 50,000,000
Trade risk assessment :
Opinion on the credit
figure of EURO 100,000:
The above figure is higher
than normally seen in one amount, however could prove admissible if split into
two transactions provided the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME :
BANQUE INTERNATIONALE POUR LE COMMERCE ET L’INDUSTRIE (BICIS)
Branch :
Sandaga
Town :
Telephone : (221) 823 1033
Subject also has an
account with the following banks :
1. Societe Generale de
Banques au
2. CBAO
3. Credit
FINANCIAL INFORMATION
The company is not
required to publish or disclose Balance Sheets.
However, the subject
interviewed offered the following information :
Sales Turnover : FR CFA
800,000,000 - 1995 - exact
:
FR CFA 1,500,000,000 - 1996 - exact
:
FR CFA 2,000,000,000 - 1997 - approx
:
not given - 1998/1999
:
CFA Fr 2,100,000,000 - 2000 - exact
:
CFA Fr 2,400,000,000 - 2001 - exact
:
CFA Fr 2,500,000,000 - 2002 - exact *
:
CFA Fr 2,900,000,000 - 2003 - exact
:
CFA Fr 2,900,000,000 - 2004 - approx
:
CFA Fr 3,000,000,000 - 2005 - exact
:
CFA Fr 3,200,000,000 - 2006 - exact
Net Profit :
FR CFA 12,000,000 - 1995 - exact
:
FR CFA 22,000,000 - 1996 - exact
:
not given - 1997/2000
:
CFA Fr 20,000,000 - 2001 - exact
:
not given, but stated to be profitable - 2002/03
:
CFA Fr 40,000,000 - 2004 - approx
:
CFA Fr 50,000,000 - 2005 - approx
:
CFA Fr 40,000,000 - 2006 - approx
Financial year ends 31
December
* Until 2002 Financial
Year ended 31 March.
LEGAL STATUS AND HISTORY
Date Started : 1956
History : The company was
founded in 1956 by the late Chafic Azar, father and husband of the present
shareholders.
C.R. No. : 5783 B
Authorised & Paid up Capital
: CFA Fr 200,000,000 (increased from CFA Fr 100,000,000 in 2006)
Societe Anonyme (Joint
Stock Company) with the following shareholders :
Percentage
1. Daher Azar 55%
2. Mrs Azar 45%
(mother of the above)
Affiliated companies of
Societe Chafic Azar Et Cie Sa :
Associates
Societe Africaine
d'Importation
28 Boulevard Marseille
01 BP 4055
Tel : (225) 2124 2562
Fax : (225) 2124 1732
Est : 1967
ACTIVITIES
The Company is involved
in the following activities :
Trading as importers and
wholesalers of building materials, hardware, sanitary-ware and plumbing
supplies.
Imports from
Distributors for
Vachette, Mermier Lemarchand, Sartex, Faris.
FACILITIES
The Company has the
following facilities :
2,700 square metres of
owned premises comprising a warehouse and integrated offices located at the
heading address.
Subject has a retail
outlet at Route de l'Aeroport (currently under construction).
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 |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)