MIRA
INFORM REPORT
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Report Date : |
01.09.2007 |
IDENTIFICATION DETAILS
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Name : |
INDUSTRIES CHIMIQUES DU
SENEGAL SA |
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Registered Office : |
BP 3835 |
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Country : |
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Date of Incorporation : |
5/4/1976 |
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Com. Reg. No.: |
77B13 |
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Legal Form : |
Joint Stock Company, Limited by shares |
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Line of Business : |
Marketing,
distribution and Exportation of fertilizers, and agro chemicals and Crop
protection products etc |
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 : |
USD 120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
INDUSTRIES CHIMIQUES DU SENEGAL SA
Principal Address
BP 3835
Telephone: +221-8340041/ 8791000
Fax: +221-8346990/ 8340814
Email: None
Internet: None
Established
5/4/1976
Registration
No. 77B13
Legal Form
joint stock
company, Limited by shares
Stock Listing
Not Listed
Workforce
2005
1,500
Office &
Factories
Head offices KM 18
Boulevard Du Centenaire De La Commune De
Branches
Company Profile
Paid in Capital CFA. 130,000,000
Subscribed Capital CFA. 130,000,000
Shareholders
Name Position Amount
Ratio
Mr Pierre Babacar
Kama President & CEO
Mr. Mamadou Diop Director
Mr. Amadou Lamine Director
Government Of
IFFCO Shareholder 19.09%
SCPA Shareholder 4.76%
RCI Shareholder 4.27%
Government Of
Government Of
SOJIT Shareholder 3.35%
IDB Shareholder 3.34%
DIVERS Shareholder 2.21%
SPIC Shareholder 1.22%
BICIS Shareholder 1.11%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 120,000 is recommendable
Affiliated Companies
Company (1) SEFICS
Company (2) SENCHIM
Management/ Directors
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President/
CEO (1) |
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Name |
Mr
Pierre Babacar Kama |
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Work Experience |
20 years in this line of business |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. Mamadou Diop |
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Work Experience |
10 years in this line of business |
Þ Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
Business Activities
Marketing,
distribution and Exportation of fertilizers, and agro chemicals and Crop
protection products etc
Terms of payment
Buying terms 30% in cash, 70% on 60 day
credit
Selling terms 80% in cash, 20% on 60 day
credit
Suppliers
Fertilizer manufacturers
e.g Rhône-Poulenc
Customers
Local agencies, Governmental
departments and Farmers
Recent Sales
USD. 289,000,000 (2006)
Exports
Central African
Countries, Europe,
Export Ratio 80.0%
Import Ratio 50.0%
Domestic Market Share 40.0%
Banking relationship
Main Banks IDB Bank,
Credit Check of
Subject, President & CEO
(as of report date)
Payment Morale : In the documents at our
disposal nothing adverse has been shown so far.
CREDIT RATING : Financial situation is
average.
COMMENTS
Maximum credit we recommend is USD 120,000 outstanding at any one time.
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. |
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%)