MIRA INFORM
REPORT
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Report Date : |
18.01.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SOCIETE WAGUE ET FRERES |
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Registered Office : |
Le Grand |
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Country : |
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Year of Establishment : |
2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
General Trading Company |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Status : |
Poor |
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Payment
Behaviour : |
Unknown |
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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 – June 30, 2010
|
Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
|
|
b2 |
b2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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: SOCIETE WAGUE ET FRERES
Requested Name: WAGUE
FRERES
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Le Grand
Postal Address: BP 2122,
Pointe Noire
Pointe
Noire
Country:
Phone: +242-6695648/ 6746942
Fax: +242-6746942
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2010 shows subject firm with a High risk
of credit. We recommend secured Credit only (letters of Credit)
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 2005
Reg. Number: Pointe
Noire
Nominal Capital CFA. 50,000,000
Subscribed Capital CFA. 50,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. K Wague Director
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
General Trading company
Imports:
Exports: None
Trademarks: None
Terms of sale: Cash
(100%).
Main
Customers: firms and
organizations
Employees: 10 employees.
Vehicles: Several motor
vehicles.
Territory
of sales:
Location: Rented premises,
2.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance
Brokers: Information not available.
FINANCE
Currency Reported: South African Rands (CFA.)
Approx. Ex. Rate: 1 US Dollar = 8 South African
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 Submitted
CFA.
Profit and Loss (expressed in CFA.)
2010
Sales 149,000,000
Net Profit (Loss)
BANK
Bank Name: ECO BANK
Branch:
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.45.59 |
|
|
1 |
Rs.72.31 |
|
Euro |
1 |
Rs.60.73 |
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 |
|
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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.