MIRA INFORM REPORT

 

 

Report Date :

7th March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

AMM INTERNATIONAL SARL

 

 

Registered Office :

Rue Felix Eboue No. 6, P.O. Box :  50158 RP (formerly 5158), Dakar, Senegal

 

 

Country :

Senegal

 

 

Date of Incorporation :

1998

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Manufacturers and wholesalers of paints.

 

 

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 10,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Usually Correct

 

 

Litigation :

Clear

 

 

 

 COMPANY NAME

 

AMM INTERNATIONAL SARL

 

 

ADDRESS

 

Street                           :  Rue Felix Eboue No. 6

P.O. Box           :  50158 RP (formerly 5158)

Town                 :  Dakar

Country             :  Senegal

Telephone         :  (221) 889 1888 / (221) 540 4899 (mobile)

Fax                   :  (221) 842 2572 / 822 7780

Trading Styles   :  Sen-Astral

 

 

SENIOR COMPANY PERSONNEL

 

Name                            Position

 

Kamal Husseini             Managing Director

 

 

Total Employees : 40

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

Subject was established in 1998 and is engaged in retail of paints.

 

In 2005 subject incurred a loss of CFA Fr 25,000,000 attributed to a strong competition. Subject is planning to close down the company by 2008.

 

We consider it is acceptable to deal with subject for SMALL amounts, however in view of the above international suppliers may prefer to exercise some caution.

 

Opinion on maximum credit : CFA Fr 10,000,000

 

Trade risk assessment : Above average

 

It is normal accepted practice for international suppliers to deal on secured terms with Senegalese importers.

 

 

PRINCIPAL BANKERS

 

NAME               : BANQUE SAHELO-SAHERIENNE POUR LE COMMERCE ET L'INVESTISSEMENT (BSCI)

Branch              : Main Branch

Street                           : Bd Djily Mbaye No. 12

Town                 : Dakar

Telephone         : (221) 889 5858 / 823 6610

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. However, the subject interviewed offered the following information :

 

Sales Turnover               : CFA Fr 600,000,000 - 2006 - exact

 

Net Profit                       : CFA Fr (25,000,000)- 2006 - exact *

 

* loss attributed to a strong competition.

 

 

LEGAL STATUS AND HISTORY

 

Date Started      : 1998

 

Capital              : CFA Fr 10,000,000

 

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

 

1. Kamal Husseini

 

2. Other undisclosed shareholders

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Manufacturers and wholesalers of paints.

 

Imports from Tunisia, The Netherlands and Singapore.

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented offices, factory and warehouse 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