MIRA
INFORM REPORT
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Report Date : |
15.10.2008 |
IDENTIFICATION
DETAILS
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Name : |
QUINCAILLERIE
2000 |
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Registered Office : |
Lot II M6 G, Mahavoky Andravoahangy,
Antananarivo 101 |
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Country : |
Madagascar |
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Date of Incorporation : |
15.06.1997 |
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Com. Reg. No.: |
8199 Antananarivo, Madagascar |
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Legal Form : |
Limited Liability company, Limited by Shares |
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Line of Business : |
Importers and Retailers
of Hardware, Hardware Tools and Equipments, Plywood 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 80,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
QUINCAILLERIE 2000
Other Name QUINCALLERIE NYASSIMO
Principal Address
Lot II M6 G, Mahavoky Andravoahangy, Antananarivo 101, Madagascar
Telephone: +261-2230583/
202231143/ 331131143/ 202225109
Fax: +261-2230207/
202231143
Email: q.2000mg@dts.mg
Internet: None
summary
Established: 15 June 1997
Registration: No. 8199 Antananarivo, Madagascar
Legal Form: Limited
Liability company, Limited by shares
Stock Listing: Not Listed
Workforce
2007
70
Office & Factories
Head offices Lot II M6 G, Mahavoky Andravoahangy,
Antananarivo 101, Madagascar
Branches None
Company Profile
Paid in Capital MGF. 100,000,000
Subscribed Capital MGF. 100,000,000
Shareholders
Name Position Amount
Ratio
Mr. M A Ramen CEO 50.00%
Mr. L Radhakrisna Director 50.00%
Total 100.00%
Credit Opinion
Our proposed
credit amount of USD 80,000 is recommendable
Affiliated Companies
None
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. M A Ramen |
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Work Experience |
10 years in this line of business |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. L Radhakrisna |
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
Importers &
Retailers of hardware, hardware tools and equipments, plywood etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 80% in cash, 20% on credit
Suppliers
DEWALT,
Customers
Construction companies, and
individuals
Recent Sales
MGF. 3,800,000,000 (2007)
Exports
Neighboring
islands
Export Ratio
2.0%
Import Ratio
70.0%
Domestic Market Share
40.0%
Banking relationship
Main Banks Union Commercial
Bank SA,
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 80,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.68 |
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UK Pound |
1 |
Rs.84.37 |
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Euro |
1 |
Rs.65.70 |
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%)