MIRA INFORM REPORT

 

 

Report Date :

24.05.2007

 

IDENTIFICATION DETAILS

 

Name :

TOUT ELECTRIC SARL

 

 

Registered Office :

Lito Labo, Aqua, P. O. Box 1328, Yaounde

 

 

Country :

Cameroon

 

 

Date of Incorporation :

2002

 

 

Com. Reg. No.:

DLA-2007B-699

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Trading as importers, wholesalers, retailers and distributors of electrical items.

 

 

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 5,000,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

COmpany NAME

 

TOUT ELECTRIC SARL

 

 

ADDRESS

 

Building             :  Lito Labo

Area                             :  Aqua

P.O. Box           :  1328

Town                 :  Yaounde

Country             :  Cameroon

Telephone         :  (237) 343 3436 / (237) 986 9223

Fax                   :  (237) 343 3293

E-Mail               :  toutelectricite@yahoo.fr

 

 

SENIOR COMPANY PERSONNEL

 

Name                            Position

 

Georges Fopa               Managing Director

 

 

Total Employees

 

7

 

 

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 Cameroon importers.

 

Opinion on maximum credit        : CFA Fr 5,000,000

 

Trade risk assessment               : Normal

 

Opinion on the credit figure of EURO 100,000 :

 

The above figure is much higher than normally seen in one amount, however could prove admissible in a series of several transactions provided the total indebtedness is strictly monitored.

 

 

PRINCIPAL BANKERS

 

NAME               : SOCIETE GENERALE DE BANQUE AU CAMEROON SA

Branch              : Ave Monseigneur Vogt No 220

PO Box             : 700

Town                 : Yaounde

Telephone         : (237) 234 005  

 

The company also has an account with the following bank:

 

Commercial Bank Of Cameroon (CBC)

Main Branch

Douala

Tel: (237) 442 0202

Fax: (237) 443 3808

 

 

FINANCIAL INFORMATION

 

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

 

Sales Turnover   : CFA Fr 100,000,000 - 2006 - exact

 

Net Profit          : CFA Fr  25,000,000 - 2006 - exact

 

 

LEGAL STATUS AND HISTORY

 

Date Started : 2002

 

History : The company was incorporated in Cameroon in 2002 as a proprietorship and changed its legal status to a Societe a Responsibilite Limitee (limited liability company) in 2007.

 

C.R. No. : DLA-2007B-699 of 13 April 2007

 

Capital : CFA Fr 1,000,000

 

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

 

Georges Fopa                           100 %

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Trading as importers, wholesalers, retailers and distributors of electrical items.

 

Imports from France, Morocco, India and Tunisia.

 

Distributors for Ingelec, Morocco; Siam, Tunisia; Nolet, France and Sct France.

 

 

 

 

 

 

 

 

FACILITIES

 

The Company has the following facilities :

 

Rented premises comprising offices, warehouse and retail shop 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