MIRA
INFORM REPORT
|
Report Date : |
29.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
SOCIETE INDUSTRIELLE DE PAPETERIE AU SENEGAL SA |
|
|
|
|
Registered Office : |
P O Box 1818, Dakar |
|
|
|
|
Country : |
Senegal |
|
|
|
|
Date of Incorporation : |
17.9.1989 |
|
|
|
|
Com. Reg. No.: |
7642-B Dakar Senegal |
|
|
|
|
Legal Form : |
Limited Liability Company, Limited by Shares |
|
|
|
|
Line of Business : |
Printing Press, Manufacturers of Pulp and Paper |
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 : |
USD 140,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
COMPANY REPORTED
SOCIETE INDUSTRIELLE
DE PAPETERIE AU SENEGAL SA
Other Name
SIPS
Principal Address
P O Box 1818, Dakar Senegal
Telephone: +221-8340929/ 8791212
Fax: +221-8342303
Email: sips@orange.sn
Internet: None
Established
17/9/1989
Registration
No. 7642-B Dakar Senegal
National ID
181942
Legal Form
Limited Liability Company,
Limited by shares
Stock Listing
Not Listed
Workforce
2007
160
Office & Factories
Head offices KM 11, Route De Rufisque, Dakar, Senegal
Branches None
Company Profile
Paid in Capital CFA. 100,000,000
Subscribed Capital CFA. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. Ali Salim
Hoballah CEO 60.00%
Mr. Mohamoud Salim
Director 40.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 140,000 is recommendable
Affiliated Companies
None Stated
Management/ Directors
President/ CEO (1)
Name Mr. Ali Salim Hoballah
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
Printing Press,
Manufacturers of Pulp and Paper
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
SOA, Various Others
Customers
Industries & Companies
Recent Sales
CFA. 8,600,000,000
(2007)
Exports
None
Export Ratio
0.0%
Import Ratio
20.0%
Domestic Market Share
30.0%
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 140,000 outstanding at any one time.
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. |
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%)