MIRA INFORM REPORT
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Report Date : |
20.12.2011 |
IDENTIFICATION DETAILS
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Name : |
EQUIPLUS |
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Registered Office : |
P .o
Box 314 Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
01.04.1988 |
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Com. Reg. No.: |
20038714 Senegal |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Retailers of farming Equipments, generators , water Pumps etc |
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No. of Employees
: |
40 persons |
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 |
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 – September 30th, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Senegal |
b2 |
b2 |
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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 |
REGISTERED NAME & COMPANY
SUMMARY
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COMPANY REPORTED: |
EQUIPLUS |
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Actual Name |
EQUIP PLUS |
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Principal Address: |
P .o Box 314 Dakar Senegal |
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Telephone: |
+221-8323232/8324873/ 8320387/ 8329902 |
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Fax: |
+221-8320387 |
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Email: |
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Internet: |
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Established: |
1/4/1988 |
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Registration: |
20038714 Senegal |
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Pin Number |
203024508 |
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Legal Form: |
limited Liability company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2010 |
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40 |
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Office & Factories |
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Head offices |
KM 3, 5 Bd Du Centenaire De La Commune Dakar Senegal |
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Branches |
Tantadji, |
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CREDIT RECOMENDATION
Current Credit Limit: USD 100,000
DIRECTORS/MANAGEMENT
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mr. Serigne Niang |
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Remarks |
Top Decision Maker |
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.
NEGATIVE INFORMATION
Na
SHARE & SHARE CAPITAL
INFORMATION
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Company Profile: |
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Paid in Capital |
CFA. 262,500,000 |
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Subscribed Capital |
CFA. 262,500,000 |
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Shareholders |
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Name |
Position |
Amount
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Ratio |
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Mr. Serigne Niang |
CEO |
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60.00% |
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Mr. Ibrahima Thiam |
Director |
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10.00% |
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Mr. Beydi Diop |
Director |
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10.00% |
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Mr. Arona Guey |
Director |
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10.00% |
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Mr. Francois Paul Sarr |
Director |
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10.00% |
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Total |
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100.00% |
PAYMENT INFORMATION
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Terms of
payment |
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Buying
terms |
30% in
cash, 70% on credit |
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Selling
terms |
80% in
cash, 20% on credit |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
50.0% |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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Affiliated Companies |
None |
FINANCIAL INFORMATION
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Recent
Sales |
CFA.
1,850,000,000 (2010) |
FOREIGN EXCHANGE RATES
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Exchange Rate |
US$ 1 = CFA. 528 |
ADDITIONAL INFORMATION
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Business Activities |
Retailers of farming Equipments, generators , water Pumps etc |
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Terms of
payment |
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Buying
terms |
30% in
cash, 70% on credit |
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Selling
terms |
80% in
cash, 20% on credit |
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Suppliers |
CAT, Siemens |
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Customers |
Local
agencies , farmers etc |
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Recent
Sales |
CFA.
1,850,000,000 (2010) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
50.0% |
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Domestic
Market Share |
30.0% |
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Banking
relationship |
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Main
Banks |
Credit Lyonnais |
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BICIS Bank |
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Credit Check of Subject, President & CEO (as of report date) |
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Payment Morale: |
In the documents at our disposal nothing adverse has been shown so
far. |
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CREDIT RATING: |
Financial situation is average. |
NOTES & COMMENTS
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.52.96 |
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UK Pound |
1 |
Rs.82.04 |
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Euro |
1 |
Rs.68.91 |
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.