MIRA INFORM REPORT
|
Report Date : |
17.11.2008 |
IDENTIFICATION
DETAILS
|
Name : |
Societe Nationale De Commercialisation Des
Produits Pétroliers |
|
|
|
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Registered Office : |
Av. Jean-Paul II, 01 BP 245, Cotonou |
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Country : |
Benin |
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Date of Incorporation : |
04.12.1974 |
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Com. Reg. No.: |
206/03 |
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Legal Form : |
Joint Stock Company |
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|
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Line of Business : |
Importer, Exporter and Distributor of Petroleum and Petroleum Products |
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 600,000.00 |
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|
|
|
Status : |
Satisfactory |
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|
|
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Payment Behaviour : |
Usually Correct |
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Litigation : |
Clear |
Company Name
Societe Nationale De Commercialisation Des Produits
Pétroliers
Company
acronym
SONACOP
Contact Information
|
Address |
Av. Jean-Paul II, 01 BP 245 Cotonou, Benin |
|
Postal Address |
- |
|
Mobile |
+229 21312913 +229 21312290 +229 21312291 +229 21313882 |
|
Tel/Fax |
+229 21312485 |
|
Email |
sonacop@sonacop.net |
|
Website |
Registration Data
|
Date of Registration |
4 Dec, 1974 |
|
Registration number |
206/03 |
|
Legal address |
Av. Jean-Paul II, 01 BP 245 Cotonou, Benin |
|
Legal Form |
Joint Stock Company |
|
Share Capital |
2,500,000,000.00
XOF |
|
Other Registration Data |
- |
Shareholders
with Shares
It declined all shareholder information.
Board/Executive
|
Name |
Mr. Rene Kotoko |
|
Position within the company |
General Manager |
|
Can fluently speak |
French |
|
Name |
Mr. Ahmed Kotoko |
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Position within the company |
Managing Director |
|
Can fluently speak |
French |
Changes in
Registration Data
None recorded
Activities
(realistic and officials)
Importer, exporter and distributor of petroleum and petroleum products
Staff
|
Number of staff employed |
85 |
Export/Import
(Countries, goods and total values for the period)
|
Imports From |
Europe |
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Importing Terms |
Letters of
Credit |
|
Import % and type of product |
10%- Finished products |
|
Exports To |
Worldwide |
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Exporting Terms |
Letters of the Credit |
|
Export % and type of product |
30% - Finished Goods |
Facilities
|
Rented |
Office |
|
Premises Size |
- |
Subsidiaries
and Participation
|
Parent Company |
- |
|
Affiliates |
Sodamef Sarl 01 BP 6615 Cotonou, Benin Tel: 21304835 Fax: 95426962 |
|
Daughter Companies |
BP, Total S.A,
Agip, Texaco, Shell, Mobil |
Branches
|
Address |
03 BP 1202
Contonou Benin West Africa Contonou Benin Tel: +229 98958118 Fax:+229 21 354906 |
Bankers
|
Bank |
Bank of Africa |
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Branch |
- |
|
Address |
- |
|
Telephone |
- |
Suppliers,
Partners
|
Suppliers |
Not known |
|
Partners |
Not Known |
Litigation,
Remarks on Payment
|
Litigation |
None Recorded |
|
Remarks on Payment |
No Complaints |
Financial
Information
It declined all financial information.
Reporter Comments
|
Comments |
In the interview with Mr. Emme Ohiwerei( Director), he declined the financial
information and bank accounts citing the grounds of company confidentiality. Note: The registered name of company is Societe Nationale De Commercialisation Des Produits Pétroliers. Note: The address which you provided is the branch address. Note:The telephones which you provided are the telephones of the branch
address. |
|
Local Reputation |
The company being investigated is believed by local reporters to be a Medium
Trade Risk and to be fair. The company is known on Benin
market. |
|
Owner/Shareholders Comments |
Some of the owners / shareholders have an active participation in
the running of the business. |
|
Age of Business |
Old Business |
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MAX CREDIT |
USD 600,000.00 |
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.68 |
|
UK Pound |
1 |
Rs.74.64 |
|
Euro |
1 |
Rs.62.58 |
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 |
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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 |
|
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%)