MIRA
INFORM REPORT
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Report Date : |
25.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAFINA
IMPORT |
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Registered Office : |
71 Rue De Liege, 101 Antananarivo |
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Country : |
Madagascar |
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Date of Incorporation : |
01.1.1994 |
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Com. Reg. No.: |
28614 Antananarivo, Madagascar |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and export of hardware materials i.e. tiled floors ad
sanitaries |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
SAFINA IMPORT
Principal Address
71 Rue De Liege, 101 Antananarivo, Madagascar
Telephone: +261-20-2227399
Fax: +261-20-2223164
Email: safina@moov.mg
Internet: None
Established
01/1/1994
Registration
28614 Antananarivo, Madagascar
Legal Form
Sole
Proprietorship
Stock Listing
Not Listed
Workforce
2007
10
Office & Factories
Head offices 71 Rue De Liege, 101 Antananarivo, Madagascar
Branches None
Company Profile
Paid in Capital MGA. 10,000,000
Subscribed Capital MGA. 10,000,000
Shareholders
Name Position Amount
Ratio
Mrs. Nafissa
Moussadjy CEO 100.00%
Director
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 30,000 is recommendable
Affiliated Companies
None
Madagascar
President/ CEO (1)
Name Mrs. Nafissa Moussadjy
Remarks Top
Decision Maker
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
Import and export
of hardware materials i.e. tiled floors ad sanitaries
Terms of payment
Buying terms 30% in cash, 70% on LC
Selling terms 90% in cash,10% on credit
Suppliers
Various
Customers
Nakumatt, Uchumi, Local agencies
,Department stores, it also owns its own chain of stores and outlets
Recent Sales
MGA. 1,268,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
10.0%
Domestic Market Share
10.0%
Banking relationship
Main Banks BMOI 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 30,000 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%)