MIRA
INFORM REPORT
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Report Date : |
13.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SOTODEC SARL |
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Registered Office : |
Rond Point de Douala, next Grand Moulin, |
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Country : |
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Date of Incorporation : |
June 2004 |
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Com. Reg. No.: |
2004B1022 |
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Legal Form : |
limited liability company |
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Line of Business : |
Importers, wholesalers and retailers of toilet paper,
sanitary towels and tissues. |
RATING & COMMENTS
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MIRA’s Rating : |
C |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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Status : |
Under Liquidation |
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Payment Behaviour : |
-- |
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Litigation : |
-- |
COmpany NAME
SOTODEC SARL
ADDRESS
Street : Rond Point de Douala, next Grand Moulin
P.O. Box :
5058
Town :
Country :
Telephone :
(225) 0707 7440 (mobile in
Fax : (228) 227 6179 / 227 4563
SENIOR COMPANY
PERSONNEL
Name Position
1. Mustafa Skaf President
2. Ali Ezzedine Managing
Director
Total Employees
10 (when in operation)
PAYMENTS
Current trade experience
of payments has not been traced.
Subject was established
in June 2004 and is currently in liquidation. It is understood that the
liquidation will be completed in September 2007.
Opinion on maximum credit
: The company has ceased trading and therefore the question of international
credit should not arise.
Trade risk assessment :
No classification
It is normal accepted
practice for international suppliers to deal on secured terms with
PRINCIPAL BANKERS
NAME :
BIA
Branch :
13 Rue de Commerce
PO Box :
346
Town :
Telephone : (228) 212 081
Fax :
(228) 211 019
The company also had an
account with:
Banque Togolaise Pour Le
Commerce Et L'Industrie - BTCI
Boulevard du 13 Janvier
169
Telephone: (228) 214 641
/ 214 642
Fax : (228) 213 265
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr 40,000,000 - 2005 - exact *
Net Profit :
not given but stated to be 20-25 %
Financial year ends 31
December.
* 15 month period
September 2004 - December 2005.
LEGAL STATUS AND
HISTORY
Date Started : June 2004
History : Subject was
established in June 2004 and is currently in liquidation.
C.R. No. : 2004B1022
Capital : CFA Fr
15,000,000
Societe a Responsibilite
Limitee (limited liability company) with the following shareholders :
Percentage
1. Moustafa Skaf 29
%
2. Marc Skaf 28 %
3. Nadim Fayad 28 %
4. Ali Ezzedaine 15
%
Affiliated companies of
Sotodec SARL :
Associates
1. Societe Africaine de
Transformation de la Ouate Cellulose SARL
(SATOCI)
Zone Industrielle de Yopougon
15 BP 1044
Tel: (225) 2346 9801 / 2346 9802 / 2346 6813
Fax: (225) 2346 6175
2. Societe Ivoirienne et
Alimentaire (SICOA)
Zone Industrielle de Yopougon
3. Compagnie Ivoirienne
de Representation Commerciale et
Industrielle (CIREPCI)
Zone Industrielle de Yopougon
4. SATOCI TOGO
Rue de L'Ecole Cret
Telephone: (228) 227 6776 / (228) 925 1177
(mobile)
Fax
: (228) 227 6179 / 227 4563
ACTIVITIES
The Company was involved
in the following activities :
Importers, wholesalers and
retailers of toilet paper, sanitary towels and tissues.
Imports were from
FACILITIES
The Company had the
following facilities :
Office premises and
wholesale outlet located 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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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%)