MIRA INFORM REPORT

Report Date :

05.01.2011

IDENTIFICATION DETAILS

Name :	BERNABE SENEGAL SA

Registered Office :	Bp 2098 Dakar

Country :	Senegal

Date of Incorporation :	14.07.1998

Com. Reg. No.:	No. 1964B7132Senegal

Legal Form :	Societe Anonyme

Line of Business :	Distributors and Retailers of hardware materials, equipments and tools etc

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	USD 100,000
Status :	Satisfactory
Payment Behaviour :	Slow but Correct
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 – June 30, 2010

Country Name

Previous Rating

(01.04.2010)

Current Rating

(30.06.2010)

Senegal

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2

Company summary

COMPANY REPORTED:	BERNABE SENEGAL SA
Principal Address:	Bp 2098 Dakar, Senegal
Telephone:	+221-8490101/ 5
Fax:	+221-8233420
Email:	bernasng@sentoo.sn
Internet:	www.bernabe.sn
Established:	14/07/1998
Registration:	No. 1964B7132Senegal
Legal Form:	Societe Anonyme
Stock Listing:	Not Listed
Workforce:	2009
	100
Office & Factories
Head offices	Route De Rufisque Km 2.5 Bd Du Centenaire, Dakar, Senegal
Branches	None

Company Profile:
Nominal Capital	CFA. 762,300,000
Paid in Capital	CFA. 762,300,000
Subscribed Capital	CFA. 762,300,000
Shareholders
Name	Position	Amount	Ratio
Mr. Maupome Etienne	MD
Mr. Bassem Nsouli	Director
Mr. Mekbebe Yohannes	Director
Mr. Abdoulaye Diao	Director
Mr. Thierry Mahloul	Director
Yeshi Group	Holding Co.		100.00%
Total			100.00%

Credit Opinion

Our proposed credit amount of USD 100,000 is recommendable

Affiliated Companies

Company (1) BERNABE CAMEROUN SA,

Company (2) BERNABE GABON,

Company (3) BERNABE GUINEE EQUATORIALE,

Company (4) MONDIAL CYCLE NOUVELLE,

Company (5) RIMCO (IVORY COAST),

Company (6) TECHNOLOGIE MAROCAINE DES 2 ROUES,

Company (7) UNIVERSELLE INDUSTRIE SARL.

Management/ Directors

President/ CEO (1)

Name Mr. Maupome Etienne

Active in daily business: Active

Current Title: Managing Director

Remarks Top Decision Maker

Director (2)

Name Mr. Bassem Nsouli

Active in daily business: Active

Current Title: Director

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

Distributors and Retailers of hardware materials, equipments and tools etc

Terms of payment

Buying terms 30% in cash, 70% on credit

Selling terms 80% in cash, 20% on credit

Suppliers SNR group etc

Customers Public in general

Recent Sales CFA. 4,200,000,000 (2009)

Exports None

Export Ratio 0.0%

Import Ratio 50.0%

Domestic Market Share 40.0%

Business Premises 2000 Sft

Type of occupation Leased

Location The subject is located close to a major road network

Premises used as Offices

Banking relationship

Main Banks BICIS 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

Currency	Unit	Indian Rupees
US Dollar	1	Rs.44.84
UK Pound	1	Rs.69.32
Euro	1	Rs.59.79

RATING EXPLANATIONS

RATING		STATUS	PROPOSED CREDIT LINE
>86	Aaa	Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums	Unlimited
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
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
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory
26-40	B	Capability to overcome financial difficulties seems comparatively below average.	Small
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
<10	C	Absolute credit risk exists. Caution needed to be exercised	Credit not recommended
----	NB	New Business	----

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.