MIRA
INFORM REPORT
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Report Date : |
25.10.2008 |
IDENTIFICATION DETAILS
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Name : |
COMPAGNIE TEXTILE DU SUD SA |
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Registered Office : |
Po Box 008, Route D'alarobia Anosivavaka .Ambohimanarina Antananarivo (101) |
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Country : |
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Date of Incorporation : |
10.08.1995 |
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Com. Reg. No.: |
214845 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacture of Textiles. |
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 380,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Company Name
Compagnie Textile du Sud SA
Also Trade as: Cotesud
Company acronym:
-
Contact Information
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Address |
PO BOX 008, Route d'Alarobia . Anosivavaka . Ambohimanarina |
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Postal Address |
P O |
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Telephone |
+ 261 2023 2282 + 261 202222823 |
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Fax |
+ 261 202224467 |
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Email |
cts@cotesud.mg |
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Website |
www.cotesud.mg |
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Other Information |
- |
Registration Data
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Date of Registration |
10/08/1995 |
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Registration number |
214845 |
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Legal address |
PO BOX 008, Route d'Alarobia . Anosivavaka . Ambohimanarina |
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Legal Form |
Joint Stock Company |
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Share Capital |
1,700,000,000.00 MFG |
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Other Registration Data |
- |
Shareholders
with Shares
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Shareholder
Names |
Share% |
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Biny Group |
100% |
Board/Executive
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Name |
Mr. Thierry Biny |
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Position within the company |
Managing Director |
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Country of Birth |
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Nationality |
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Can fluently speak |
Malagasy, English |
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Name |
Mr. Gilbert Biny |
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Position within the company |
Chairman |
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Country of Birth |
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Nationality |
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Can fluently speak |
Malagasy, English |
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Name |
Mr. M. Ramboasalama |
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Position within the company |
Office Manager |
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Country of Birth |
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Nationality |
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Can fluently speak |
Malagasy, English |
Changes in
Registration Data
None recorded
Activities (
realistic and officials)
Manufacture of textiles.
Clients: Gap International, La redoute, H&M, CIM.
Staff
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Number of staff employed |
750 |
Export/Import
( Countries, goods and total values for the period)
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Imports From |
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Importing Terms |
Letters of credit |
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Import % and type of product |
10% -
Finished Products |
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Exports To |
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Exporting Terms |
Letters of credit |
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Export % and type of product |
40% -
Finished Products |
Facilities
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Owned |
Office, Warehouse, Factory |
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Premises Size |
- |
Subsidiaries
and Participation
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Parent Company |
Biny Group Madagascar |
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Subsidiaries |
- |
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Affiliates |
- |
Branches
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Address |
- |
Bankers
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Bank |
African Development Bank |
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Branch |
- |
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Address |
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Telephone |
- |
Suppliers,
Partners
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Suppliers |
Not known |
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Partners |
Not Known |
Litigation, Remarks
on Payment
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Litigation |
None Recorded |
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Remarks on Payment |
No Complaints |
Financial
Information
It declined all financial information.
Representation
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Auditors |
- |
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Solicitors |
- |
Reporter Comments
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Comments |
In the interview conducted with Mr. Gilbert Biny ( Chairman) , he declined bank
account number and financial information citing the grounds of company
confidentiality. Note: The registered
name of company is Compagnie Textile du Sud SA |
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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 |
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Owner/Shareholders Comments |
All or most of the owners / shareholders have an active participation in
the running of the business. |
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Age of Business |
Old Family Business |
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MAX CREDIT |
USD 380,000 |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.95 |
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1 |
Rs.79.56 |
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Euro |
1 |
Rs.63.65 |
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%)