MIRA
INFORM REPORT
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Report Date : |
29.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SAPEC |
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Registered Office : |
Route 845, Zone
Industrielle, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
February 1999 |
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Com. Reg. No.: |
116361 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers, wholesalers and retailers of paints and colorants. |
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 25,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
SAPEC
ADDRESS
Street : Route 845
Area : Zone Industrielle
P.O. Box :
E31
Town :
Country :
Telephone :
(223) 221 7113 / (223) 640 3312 / 673 2985 (mobile)
Fax : (223) 221 7901
Also Known As
Societe Africaine de Peintures et Colorants
SENIOR COMPANY
PERSONNEL
Name Position
1. Sabri Saleh Managing
Director
2. Adama Diarra Accountant
Total Employees
50
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a well
established company, operating since 1999.
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
Opinion on maximum credit
: CFA Fr 25,000,000
Trade risk assessment :
PRINCIPAL BANKERS
NAME :
ECOBANK
Branch :
Main Branch
PO Box :
E 1272
Town :
Telephone : (223) 233 300
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover :
CFA Fr 150,000,000 - 2000 - exact*
: CFA Fr
275,000,000 - 2001 - exact
: CFA Fr
380,000,000 - 2002 - exact
: CFA Fr
420,000,000 - 2003 - exact
:
CFA Fr 480,000,000 - 2004 - exact
: CFA Fr
525,000,000 - 2005 - exact
: CFA Fr 1,200,000,000 - 2006 - exact
Net Profit :
not given 2000 - 2005
: CFA Fr
120,000,000 - 2006 - exact
Financial year ends 31
December
* First full year in
operations
LEGAL STATUS AND
HISTORY
Date Started : February
1999
History : Subject's
shareholders were Antoine Zarka and some other shareholders. In February 2005 the
shareholders changed to the present.
C.R. No. : 116361
Fiscal ID : 082100921R
Paid up Capital : CFA Fr
150,000,000
Societe a Responsibilite
Limitee (Limited Liability Company) with the following shareholders :
Percentage
1. Sabri Saleh 50 %
2. Hamed Derwich 50 %
Affiliated companies of
Sapec Mali Sarl :
Associates
Societe Senegalaise De
Nattes En Plastique SARL
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers,
wholesalers and retailers of paints and colorants.
Imports from
FACILITIES
The Company has the
following facilities :
Office premises, production
unit and storage facilities 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%)