MIRA INFORM REPORT

 

 

Report Date :

13.06.2007

 

IDENTIFICATION DETAILS

 

Name :

FOURNAUTO SARL

 

 

Registered Office :

Avenue Lamine Gueye No. 58, P. O. Box 2614, Dakar

 

 

Country :

Senegal

 

 

Date of Incorporation :

1985

 

 

Com. Reg. No.:

2000/B2 174

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers, distributors and retailers of vehicle spare parts.

 

 

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

 

FOURNAUTO SARL (Correct)

 

ETABLISSEMENT GEBARA IMPORT EXPORT (Requested)

 

 

ADDRESS

 

Street                           :  Avenue Lamine Gueye No. 58

P. O. Box          :  2614

Town                 :  Dakar

Country             :  Senegal

Telephone         :  (221) 821 5611

Fax                   :  (221) 822 9803

E-Mail               :  fournauto@orange.sn / fournauto@sentoo.sn

 

 

Trading Styles

 

Fournauto

 

 

Formerly Known As

 

Etablissement Gebara Import Export

 

 

SENIOR COMPANY PERSONNEL

 

Name                                                    Position

 

Mamadou Gebara                      General Manager / Owner

 

 

Total Employees

 

15

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers 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 Senegalese importers.

 

Opinion on maximum credit : CFA Fr 50,000,000

 

Trade risk assessment : Normal

 

 

PRINCIPAL BANKERS

 

NAME               : SOCIETE GENERALE DE BANQUES AU SENEGAL (SGBS)

Branch              : Central

Town                 : Dakar

Telephone         : (221) 823 1060 / 823 3530

 

 

FINANCIAL INFORMATION

 

Private companies in Senegal are not required to publish or disclose balance sheets. However, the subject interviewed offered the following information :

 

Sales Turnover   : CFA Fr 2,855,978,140 - 2005 - exact

                        : CFA Fr 2,910,000,000 - 2006 - exact

                 

Net Profit          : not given            - 2005

                        : CFA Fr   375,067,680 - 2006 - exact

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 1985

 

History : The company was established in Senegal in 1985 as a proprietorship Etablissement Gebara Import Export. Subject changed its legal status to a limited liability company and adopted the present style in 2001.

 

C.R. No. : 2000/B2 174

 

Capital : CFA Fr 65,000,000

 

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

 

1. Mamadou Gebara

 

2. Other members of the Gebara family

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers, distributors and retailers of vehicle spare parts.

 

Imports worldwide.

 

 

 

 

 

 

FACILITIES

 

The Company has the following facilities :

 

Retail outlet and a small warehouse on the ground floor and the residence of Mamadou Gebara on the first floor located at the heading address.

 

 

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%)

 

 

 

 

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