MIRA INFORM
REPORT
|
Report Date : |
28.07.2011 |
IDENTIFICATION DETAILS
|
Correct Name : |
SOCIETE D'ELECTRICITE INDUSTRIELLE ET DE
BATIMENT |
|
|
|
|
Registered Office : |
N 133 Rue Du
Gouverneur William Ponty Placodji Kpo Cotonou |
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|
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|
Country : |
Benin |
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Date of Incorporation : |
15.06.1985 |
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Com. Reg. No.: |
1553 B Cotonou, Benin |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importers & Retailers of Electrical goods, Fridges, elevators, & other machines etc |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Maximum Credit Limit : |
USD 50,000 |
|
Status : |
Moderate |
|
Payment
Behaviour : |
Unknown |
|
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
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Benin |
c1 |
c1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SUBJECT'S NAME
Registered Name: SOCIETE D'ELECTRICITE INDUSTRIELLE ET DE
BATIMENT
Requested Name: STE D'ELECTRICITE INDUSTRIELLE & DE
BATIMENT "SEIB"
Other Names: SEIB BENIN SA
ADDRESS AND TELECOMMUNICATION
Physical Address: N
133 Rue Du Gouverneur William Ponty Placodji Kpo Cotonou
Postal Address: 01 Bp 472
Cotonou,
Country: Benin
Phone: +229-21-313304/ 312391
Fax: +239-21-21313593
Email: None
Website: None
CREDIT OPINION
Financial Index as of December 2009 shows subject firm with a medium
risk of credit. We recommend Credit of USD 50,000 on 90 days. If we do not
provide an amount, then your maximum limit will suffice
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 15/06/1985
Reg. Number: 1553
B Cotonou, Benin
Nominal Capital CFA. 100,000,000
Subscribed Capital CFA. 100,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Francis
Gnacadja MD
Mr. B Antoine Director
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 Importers & Retailers of Electrical goods,
Fridges, elevators, & other machines etc
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 55
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Benin
Location: Rented
premises, 5.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Central African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 508 Central African Franc
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 KES.)
2010
Sales 1,250,000,000
BANK
Bank Name: EXIM Bank, Dar es salaam,
Tanzania
Branch: Enterprise Rd, Nairobi
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.43.95 |
|
UK Pound |
1 |
Rs.72.12 |
|
Euro |
1 |
Rs.63.67 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.