MIRA INFORM
REPORT
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Report Date : |
12.04.2011 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
106 Rue
Dako Donou Face Homel ex Maternite' Lagune Cotonou |
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Country : |
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Date of Incorporation : |
06.12.1999 |
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Com. Reg. No.: |
19390B |
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Legal Form : |
Limited Corporation |
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Line of Business : |
dealers in books, stationery,
furniture and also computers products and facilities 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 : |
Euros 100,000 |
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Status : |
Satisfactory |
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Payment
Behaviour : |
Regular |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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c1 |
c1 |
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Risk Category |
ECGC Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
SUBJECT'S
NAME
Registered Name:
Requested Name:
Other Names: None
ADDRESS
AND TELECOMMUNICATION
Physical Address: 106
Rue Dako Donou Face Homel
ex Maternite' Lagune Cotonou
Postal Address: 08 BP 0883
Country:
Phone: 229-21311485
Cell: 229-90941608/
93581438
Fax: 229-21310667
Email: newbureau2000@yahoo.fr / newtonsarl@hotmail.com
Website: www.newtonbureautique.com
CREDIT
OPINION
Financial Index as of December
2010 shows subject firm with a medium risk of credit. However, bank and credit
information obtained reveal a history of prompt payments. We recommend Credit
of Euros 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 6-Dec-1999
Reg. Number: 19390B
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. A. Newton Director 50%
Mrs. P. Newton Director 50%
RELATED
COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in books, stationery, furniture and
also computers products and facilities etc
Imports: Middle east, Asia,
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and 30
days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 10 employees.
Vehicles: Several motor
vehicles.
Territory
of sales:
Location: Rented premises,
5.000 square feet,
AUDITORS
AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: West African Franc XOF (CFA.)
Approx. Ex. Rate: 1 US Dollar = 459 West African Franc XOF
Fiscal
Year End: December 31, 2010
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2010 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in CFA.)
2010
Sales 10,000,000
BANK
Bank Name: CRBD BANK
Enquiry Amount: 100.000
Euros
Terms: 90 days
Comments: None
TRADE REFERENCES
Experiences: Good
NOTARIAL BONDS
None
COMMENTS
/ ADDITIONAL INFORMATION
This information was obtained from outside sources other than the
subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.22 |
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1 |
Rs.72.26 |
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Euro |
1 |
Rs.63.90 |
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 |
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 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.