MIRA INFORM
REPORT
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Report Date : |
23.06.2011 |
IDENTIFICATION DETAILS
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Name : |
LGQ SARL |
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Registered Office : |
BP 1049 Douala, Cameroun |
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Country : |
Cameroon |
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Date of Incorporation : |
08.09.1992 |
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Com. Reg. No.: |
RC 10594 Cameroon |
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Legal Form : |
Societe Anonyme Responsabilite Limitee. |
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Line of Business : |
Importers and distribution of general merchandise
such as furniture, electrical components, hardware, appliances etc |
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 50,000 |
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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 – March 31st, 2011
|
Country Name |
Previous Rating (31.12.2010) |
Current Rating (31.03.2011) |
|
Cameroon |
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 |
REGISTERED NAME & COMPANY
SUMMARY
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COMPANY
REPORTED: |
LGQ SARL |
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Other Names: |
LA GRANDE QUINCAILLERIE CAMEROUN SARL |
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Principal Address: |
BP 1049 Douala, Cameroun |
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Telephone: |
+237-33-422560/ 60 |
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Fax: |
+237-33-433942 |
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Email: |
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Internet: |
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Established: |
8/09/1992 |
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Registration: |
RC 10594 Cameroon |
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Tax Number: |
M089200001673N |
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Legal Form: |
Societe Anonyme Responsabilite Limitee. |
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Stock Listing: |
Not Listed |
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Workforce: |
2010 |
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50 |
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Office & Factories |
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Head offices |
43 Rue Dicka Mpondo Douala, Cameroun |
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Branches |
Yaounde, Cameroon |
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CREDIT RECOMENDATION
Current Credit Limit: USD 50,000
DIRECTORS/MANAGEMENT
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Management/
Directors |
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President/
CEO (1) |
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Name |
Raymond Zemo |
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Remarks |
Top Decision Maker |
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Director
(2) |
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Name |
Gaston Nemadeu |
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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Nominal Capital |
CFA. 50,000,000 |
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Shareholders |
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Name |
Position |
Amount
|
Ratio |
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Raymond Zemo |
CEO |
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Gaston Nemadeu |
Director |
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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 |
|
Exports |
None |
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Export
Ratio |
0.0% |
|
Import
Ratio |
40.0% |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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Affiliated Companies |
None |
FINANCIAL INFORMATION
|
Recent
Sales |
CFA. 2,850,000,000
(2010 Estimated) |
FOREIGN EXCHANGE RATES
|
Exchange Rate |
US$ 1 = CFA. 460 |
ADDITIONAL INFORMATION
|
Business Activities |
Importers and distribution
of general merchandise such as furniture, electrical components, hardware,
appliances etc |
|
|
Terms of
payment |
|
Buying
terms |
30% in
cash, 70% on credit |
|
Selling
terms |
80% in
cash, 20% on credit |
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|
|
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Suppliers |
Various Companies
|
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Customers |
firms
and organizations |
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Recent
Sales |
CFA. 2,850,000,000
(2010 Estimated) |
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Exports |
None |
|
Export
Ratio |
0.0% |
|
Import
Ratio |
40.0% |
|
Domestic
Market Share |
10.0% |
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Business Premises |
5,000 Sft |
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Type of occupation
|
Leased |
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Location |
The subject is located close to a major road network |
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Premises used as
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Offices |
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Banking
relationship |
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Main
Banks |
Eco 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. |
COMMENTS
Maximum credit we recommend is USD 100,000 outstanding at any one time.
NOTES & COMMENTS
Na
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.82 |
|
UK Pound |
1 |
Rs.72.84 |
|
Euro |
1 |
Rs.64.58 |
RATING EXPLANATIONS
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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 |
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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 |
|
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 |
|
<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.