MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
SAGA CONGO |
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Registered Office : |
18, Rue du Prophete Lassy Zephirin, P. O. Box 674, Pointe Noire |
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Country : |
Congo, People's Republic of |
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Date of Incorporation : |
1920 |
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Com. Reg. No.: |
74B428 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Shipping agents, airfreight forwarders and travel agents. |
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 60,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
CO NAME
SAGA CONGO (Correct)
AFRITRAMP - CONGO (Requested)
ADDRESS
Street : 18, Rue du Prophete Lassy Zephirin
P.O. Box : 674
Town : Pointe Noire
Country : Congo, People's Republic of
Telephone : (242) 940953 / 9421941016 / 941017
Fax : (242) 944297
Also Known As
SOAEM (Societe Ouest Africaine d'Enterprises Maritimes).
SENIOR COMPANY
PERSONNEL
Name Position
1. Francois Lavavnant Managing Director
2. Emmanuel Beuchet Financial Director
3. Laurence Robineau Shipping Manger
Total Employees
18
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 Congo importers.
Opinion on maximum credit : CFA Fr 60,000,000 (association inspire confidence for higher amounts if required)
Trade risk assessment : Normal
PRINCIPAL BANKERS
NAME : BANQUE COMMERCIALE INTERNATIONALE (BCI)
Branch : Grand Marche
Town : Pointe Noire
Telephone : (242) 944 159
Subject also has an account with:
1. Credit Lyonnais
Avenue Emmanuel Dadet
BP 1312
Pointe-noire
Telephone: (242) 942 400
2. BGFI Bank Congo
BP 610
Pointe-noire
Telephone: (242) 949 184
Fax : (242) 949 185
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr 2,500,000,000 - 2006 - exact
Net Profit : CFA Fr 316,000,000 - 2006 - exact
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : 1920
C.R. No. : 74B428
Capital : CFA Fr 453,000,000
Societe Anonyme (Joint Stock Company) with the following shareholders :
Percentage
1. SAGA 99 %
38 Quai du Point du Jour
Boulogne Billancourt
France
Tel : (33 1) 41415050
Fax : (33 1) 41415599
Saga has shipping subsidiaries in the following countries : Niger, Chad, Central African Republic, Cameroon, Benin, Congo, Burkina Faso, Mali, Sierra Leone, Liberia, Ghana, Guinea, Mauritania, Gabon.
2. Members of the Public 1 %
Parent Company
Bollore SA
Quai Colbert 1
Le Havre 76080
France
Tel: (33 2) 3274 1000
Affiliated companies of Saga Congo :
Associates
1. Saga Cameroon
Boulevard De La Liberte 5
P.O. Box : 320 & 4057
Douala
Cameroon
Telephone: (237) 342 8288 / 342 6402
Fax : (237) 342 8655 / 342 0518
2. Saga Gabon
Libreville
Gabon
3. Saga Togo
Lome
Togo
4. Saga Benin
Cotonou
Benin
5. Sdv-Saga Cote D'Ivoire SA
Avenue Chritiani
Face au Dispensaire du Pont Treichville
PO Box 01 BP 1727 / 01 BP 4082
Abidjan 01
Ivory Coast Republic (Cote D'Ivoire)
Telephone: (225) 2020 2000
Fax : (225) 2020 2100
6. SAGA Senegal SA
Dakar
Senegal
7. SOCIMAC SA (50%)
Ivory Coast
8. SOAEM SA
Conakry
Guinea, Republic of
9. SAGA Maroc
Morocco
10. SNTB Burkina Faso
Burkina Faso
12.SDV Congo
Roberto Prota
Ave de Loango
BP 616
Pointe Noire
Telephone: (242) 940 753 / 940 264
Fax : (242) 944 297
ACTIVITIES
The Company is involved in the following activities :
Shipping agents, airfreight forwarders and travel agents.
Principal Agencies Held : Compagnie Maritime Zairoise, Dafra Lines AS, NYK, Portline, Gold Star Line Ltd, Hoegh Lines, Zim Israel, Nedlloyd Lines.
FACILITIES
The Company has the following facilities :
Large owned offices situated 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%)