MIRA
INFORM REPORT
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Report Date : |
19.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SAHEL GAZ SA |
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Registered Office : |
Domaine Industrial Sodida No.27, |
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Country : |
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Date of Incorporation : |
1993 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Producers of oxygen and acetylene gas for industrial purposes. |
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 40,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
SAHEL GAZ SA
ADDRESS
Area : Domaine Industrial Sodida No.27
P.O. Box :
2257
Town :
Country :
Telephone :
(221) 825 4960
Fax : (221) 824 4611
E-Mail : sahel@sentoo.sn
Address : Batiment 31, Sodida
SENIOR COMPANY
PERSONNEL
Name Position
1. Alla Sene President
2. Omar Sene Managing Director
3. Mbaye Sene Finance Director
4. M. Drame Technical Manager
Total Employees
69
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
practice for international suppliers to deal on secured terms with
Opinion on maximum credit
: CFA Fr 40,000,000
Trade risk assessment :
Opinion on the credit
figure of EURO 500,000 :
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 :
BANQUE INTERNATIONALE POUR L'AFRIQUE OCCIDENTAL SA
Branch :
Place de l'Independance 2
P. O. Box :
129
Town :
Telephone : (221) 823 1000
Subject has also an
account with the following banks:
1. Societe Generale Des
Banques Au
Avenue Roume
PO Box
: 323
Telephone: (221) 839 5500
Fax : (221) 821 9119
Account No.: 015000500080971/2
2. Compagnie Bancaire De
L'Afrique Occidentale (CBAO)
Place de l'Independance
PO Box
: 129
Telephone: (221) 823 1000
Account No.: 20136015550X
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : CFA Fr
600,000,000 - 1995 - exact
: not given -
1996 - 2004
: CFA Fr 1,400,000,000 - 2005 - exact
: CFA Fr 1,600,000,000 - 2006 - exact
Net Profit :
CFA Fr 80,000,000 - 2005 - exact
: CFA Fr 100,000,000 -
2006 - exact
LEGAL STATUS AND
HISTORY
Date Started : 1993
Tax No (NINEA):
00561442G3
Id Fiscale No. (CC):
026316/D
Capital : CFA Fr
200,000,000
Societe Anonyme (Joint
Stock Company) with the following
Shareholders
1. Alla Sene
2. Other members of Sene
Family
Affiliated companies of
Sahel Gaz Sa :
Associates
1. Complex Agro
Industriel (CAIT)
Ouba
2. Compagnie Africaine de
transit et Transports SA (CATT)
Rue Robert Brun, 19
Tel: (221) 821 4152
ACTIVITIES
The Company is involved
in the following activities :
Producers of oxygen and
acetylene gas for industrial purposes.
Subjects brands: Esab,
Pferd and Messer.
Imports from
FACILITIES
The Company has the
following facilities :
Owned premises, comprising
2 production units and administrative offices, 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%)