MIRA
INFORM REPORT
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Report Date : |
03.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
COMPAGNIE COMMERCIALE ET INDUSTRIELLE DU SENEGAL |
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Registered Office : |
BP 137 Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
1972 |
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Com. Reg. No.: |
18B641 |
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Legal Form : |
Limited
Liability Company, Limited by shares |
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Line of Business : |
Manufacturers of
PVC pipes, construction pipes of Polypropylene bags under the brand name
‘Tansack’. |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
COMPAGNIE COMMERCIALE ET INDUSTRIELLE DU SENEGAL
Other name
CCIS
Principal Address
BP 137 Dakar Senegal
Telephone: +221-8493939
Fax: +221-8493814/15
Email: ccis@arc.sn
Internet: www.ccis.sn
Established
1972
Registration
No. : 18B641 Dakar Senegal
Legal Form
limited Liability
company, Limited by shares
Stock Listing
Not Listed
Workforce
2006
300
Office & Factories
Head offices Route Du Front De Terre, Dakar Senegal
Branches Three
Company Profile
Paid in Capital CFA 2,000,000,000
Subscribed Capital CFA 2,000,000,000
Shareholders
Name Position No. of shares Ratio
Mr. Nayef Derwiche Managing Director 40.00%
Mr. Imad Derwiche Director 20.00%
Mr. Brahim
Derwiche Director 20.00%
Mr. Paul Antoine Ndong Director 20.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 250,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Nayef Derwiche |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr.
Imad Derwiche |
Ž 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
PVC pipes, construction pipes of Polypropylene bags under the brand name
‘Tansack
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
None
Customers
Construction and
Agricultural Industries
Recent Sales
USD. 10,000,000
(2006)
Exports
Neighbouring
Countries
Export Ratio 30.0%
Import Ratio 10.0%
Domestic Market Share 60.0%
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
average.
COMMENTS
Maximum credit we recommend is USD 250,000 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%)