MIRA
INFORM REPORT
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Report Date : |
15.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
ETS. SICOMEX |
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Registered Office : |
P. O. Box 05 BP 2200, Abidjan |
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Country : |
Ivory Coast Republic (Cote D'Ivoire) |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
260497 |
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Legal Form : |
Proprietorship |
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Line of Business : |
Owner and operators of a chain of supermarkets. |
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 15,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
COmpany NAME
ETS. SICOMEX
ADDRESS
P.O. Box :
05 BP 2200
Town : Abidjan
Country : Ivory Coast Republic (Cote D'Ivoire)
Telephone :
(225) 2345 3830
Fax : (225) 2345 2663
SENIOR COMPANY
PERSONNEL
Name Position
1. Mustapha Bourgi Chairman
2. Kalil Bourgi Director
Total Employees
100
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
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
Ivory Coast importers.
Opinion on maximum credit
: CFA Fr 15,000,000
Trade risk assessment :
Normal
Opinion on the credit
figure of EURO 100,000:
The above figure is
higher than normally seen in one amount, however could prove admissible in a
series of transactions provided the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME :
SOCIETE GENERALE DE BANQUES EN COTE D'IVOIRE SA
Branch :
5-7 Avenue Joseph ANoma
PO Box :
01 Bp 1355
Town :
Abidjan 01
Telephone : (225) 2020 1234 / 2020 1111
Fax :
(225) 2020 0090 / 2020 1486
SWIFT :
SGCI CI AB
The company also has an
account with the following banks:
1. Banque Internationale
pour le Commerce et l'Industrie
PO Box: 1298 ABIDJAN 01
Avenue Francket-d'Esperey
Tel: (225) 201 600
Fax: (225) 201 700
2. Banque Internationale
pour l'Afrique Occidentale
8-10 Av. Joseph Anoma, 01 BP 1274 - Abidjan
Tel: (225) 2020 0720
Fax: (225) 2020 0700
Swift: AFRBKABJADR
FINANCIAL INFORMATION
Balance sheets are not available.
However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr 1,200,000,000 - 2006 - exact
Net Profit :
not given
LEGAL STATUS AND
HISTORY
Date Started : 1994
History : The company was incorporated in
Ivory Coast Republic (Cote D'Ivoire) in 1994.
C.R. No. : 260497
Fical ID : 9000577
Capital : not applicable
Affaire Personnelle
(proprietorship) with the following shareholders :
Mustapha Bourgi
Affiliated companies of
Ets. Sicomex :
Associates
1. Lgi
2. Evadis
3. Associates Transit
4. Espace Voyage
ACTIVITIES
The Company is involved
in the following activities :
Owner and operators of a
chain of supermarkets.
Imports worldwide.
FACILITIES
The Company has the following
facilities :
Owned offices located at
the heading address.
The company has 5
supermarkets throughout the country.
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%)