MIRA
INFORM REPORT
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Report Date : |
28.03.2008 |
IDENTIFICATION
DETAILS
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Name : |
SITRACEL
SA |
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Registered Office : |
BP 6813, Yaounde |
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Country : |
Cameroon |
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Date of Incorporation : |
9.10.1978 |
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Com. Reg. No.: |
I124 Cameroon |
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Legal Form : |
Limited Liability Company, Limited By Shares |
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Line of Business : |
Manufacturers of Tissue paper, Hygiene pads for women 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 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
SITRACEL SA
Other Name SOCIETE INDUSTRIELLE DE TRAITEMENT DE CELLULOSE SA
Principal Address
BP 6813, Yaounde Cameroon
Telephone: +237-22-317820/
311393/
Fax: +237-22-315872
Email: dg@sitracel.com
Internet: www.sitracel.com
Established
9/10/1978
Registration
No. I124 Cameroon
Legal Form
Limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
200
Office & Factories
Head offices 2870, Bld de la Republique, Deido, Yaounde
Cameroon
Branches Yaounde, Douala, Ngaoundere and Bafoussam
Company Profile
Paid in Capital CFA. 1,050,035,000
Subscribed Capital CFA. 1,050,035,000
Shareholders
Name Position Amount
Ratio
Mr. M Feukuoa President &
CEO 20.00%
Mr. Wandji Robert Director 20.00%
Mrs. Nantchouang
Martine Director 10.00%
Mr. Tchebetchou
Emmanuel Director 10.00%
Mr. Fokam Valery Director 10.00%
Mr. Lihai Patrick 10.00%
Mr. Keumogne
Chsirtophe 10.00%
Mr. Kouam Clovis 10.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 200,000 is recommendable
Affiliated Companies
Company (1) SITA INDUSTRY
Management/ Directors
President/ CEO (1)
Name Mr. M Feukuoa
Remarks Top
Decision Maker
President/ CEO (2)
Name Mr.
Wandji Robert
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
Manufacturers of
Tissue paper, Hygiene pads for women etc
Terms of payment
Buying
terms 30% in cash, 70% on credit
Selling
terms 80% in cash, 20% on credit
Suppliers
Various Local Companies
Customers
Distribution stores and
outlets
Recent Sales
CFA.
10,200,000,000 (2007)
Exports
Neighboring
Countries
Export Ratio
20.0%
Import Ratio
0.0%
Domestic Market Share
20.0%
Banking relationship
Main Banks ECO 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
Satisfactory.
COMMENTS
Maximum credit we recommend is USD 200,000 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%)