MIRA
INFORM REPORT
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Report Date : |
09.09.2008 |
IDENTIFICATION
DETAILS
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Name : |
INDUSTRIE DE TRANSFORMATION DE PLASTIQUES T DE
PRODUITS CHIMIQUES SARL "INDUSTRAP" |
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Registered Office : |
16 Bp 294, Abidjan 16 |
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Country : |
Ivory Coast |
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Date of Incorporation : |
20.04.1998 |
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Com. Reg. No.: |
141560 Abidjan, Cote d’ ivoire |
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Legal Form : |
Limited Liability Company, Limited by Shares |
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Line of Business : |
Manufacturers and Distributors of Plastic Products, Chemicals, Resins,
Paints 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 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
COMPANY REPORTED
INDUSTRIE DE TRANSFORMATION DE PLASTIQUES T DE
PRODUITS CHIMIQUES SARL "INDUSTRAP"
Principal Address
16 Bp 294, Abidjan 16, Cote D’ Ivoire
Telephone: +225-21-251862/
259087
Fax: +225-21-
251862
Email: None
Internet: None
Established
20/4/1998
Registration
No. 141560
Abidjan, Cote d’ ivoire
Legal Form
Limited Liability
Company, Limited by shares
Stock Listing
Not Listed
Workforce
2007
150
Office & Factories
Head offices Zone Idustrielle, Abidjan 16, ivory coast
Branches None
Company Profile
Paid in Capital CFA. 10,000,000
Subscribed Capital CFA. 10,000,000
Shareholders
Name Position Amount
Ratio
Mr. Bachir Ali CEO 40.00%
Mr. A B Ahmed Director 30.00%
Mr. J H Kahlid Director 30.00%
Total 100.00%
Credit Opinion
Our proposed credit amount of USD 100,000 is recommendable
Affiliated Companies
Company (1) SocIETE Ivoirienne d’
Allumettes ( SIVALLUME)
Company (2) INDUSTRAP Gabon
Management/ Directors
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President/
CEO (1) |
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Name |
Mr. Bachir Ali |
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Remarks |
Top Decision Maker |
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President/
CEO (2) |
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Name |
Mr. A B Ahmed |
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
Manufacturers
& distributors of Plastic products, chemicals, resins, paints etc
Terms of payment
Buying terms 30% in cash, 70% on credit
Selling terms 50% in cash, 50% on credit
Suppliers
Various
Customers
Local agencies ,Department
stores, stores and outlets
Recent Sales
CFA. 530,000,000
(2007)
Exports
None
Export Ratio
20.0%
Import Ratio
10.0%
Domestic Market Share
20.0%
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 100,000 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.44.89 |
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UK Pound |
1 |
Rs.78.86 |
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Euro |
1 |
Rs.63.33 |
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%)