MIRA INFORM
REPORT
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Report Date : |
26.08.2011 |
IDENTIFICATION DETAILS
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Name : |
EST OLGADIMMA SARL COMPANY |
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Registered Office : |
Hussier DJ Plaza
Jericho, Cotonou |
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Country : |
Benin |
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Date of Incorporation : |
06.12.2002 |
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Com. Reg. No.: |
2002B2561 |
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Legal Form : |
Societe Anonyme
Responsabilite Limitee |
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Line of Business : |
dealers in general merchandise such as lubricants, electronic products, building products such as marbles, tiles, stones etc |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Maximum Credit Limit : |
USD
50,000 |
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Status : |
Moderate |
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Payment
Behaviour : |
No Complaints |
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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 – March 31st, 2011
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Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
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Benin |
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 |
Bottom of Form
SUBJECT'S NAME
Registered Name: EST OLGADIMMA SARL COMPANY
Requested Name: EST
OLGADIMMA SARL COMPANY
Actual Names: ETS
OLGADIMMA SARL COMPANY
ADDRESS AND TELECOMMUNICATION
Physical Address: Hussier
DJ Plaza Jericho, Cotonou
Postal Address: BP 1758 Cotonou
Country: Benin
Republic
Phone: 229-93488648
Fax: 229-2132-8183
Email: None
Website: None
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 USD 50,000 on 90 days.
LEGAL
Legal Form: Societe
Anonyme Responsabilite Limitee.
Date Incorporated: 6-Dec-2002
Reg. Number: 2002B2561
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mohamed Fouda MD 100%
Ahmed Fouda Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Fouda For Import And Export Company Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in general merchandise such as
lubricants, electronic products, building products such as marbles, tiles,
stones etc
Imports: Asia, Middle East
Exports: None
Trademarks: None
Terms
of sale: Cash (40%) and
25-90 days (60%), invoices.
Main
Customers: firms and
organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Benin
Location: Rented
premises, 2.500 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 = 455 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 450,000,000
BANK
Bank Name: CRBD Bank
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.46.13 |
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UK Pound |
1 |
Rs.75.52 |
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Euro |
1 |
Rs.66.53 |
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 |
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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or
its officials.