MIRA
INFORM REPORT
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Report Date : |
05.03.2011 |
IDENTIFICATION DETAILS
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Name : |
IVORY INTERNATIONAL |
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Registered Office : |
Caree 1023 Irede Cotonou, |
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Country : |
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Date of Incorporation : |
12.03.2004 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import and distribution of frozen foods and fruits such as chicken, sea foods, grapes etc |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Regular |
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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 – December 31, 2010
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Country Name |
Previous Rating (30.09.2010) |
Current Rating (31.12.2010) |
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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 |
SUBJECT'S NAME
Registered Name: IVORY INTERNATIONAL
Requested Name: IVORY
INTERNATIONAL
Other Names: None
ADDRESS AND TELECOMMUNICATION
Physical Address: Caree 1023
Irede Cotonou,
Postal Address: 01 BP 5334,
Country:
Phone: 229-31758401
Cell Phone: 229-99398859
Fax: 229-31649901
Email: jonasivory@yahoo.com
Website: None
CREDIT OPINION
Financial Index as of
December 2010 shows subject firm with a medium risk of credit. However, bank and
credit information obtained reveal a history of prompt payments. We recommend
secured Credit.
If we do not
provide an amount, then your maximum limit will suffice.
LEGAL
Legal Form: Sole Proprietorship
Date Incorporated: 12-March-2004
Reg. Number:
Nominal Capital CFA. 10,000,000
Subscribed Capital CFA. 10,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Egbuta Jonahs MD
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 import and distribution of
frozen foods and fruits such as chicken, sea foods, grapes etc
Imports: Middle East,
Europe,
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Individuals,
stores, distributors and outlets
Employees: 5 employees.
Vehicles: 1 motor vehicle.
Territory of sales:
Location: Rented premises,
800 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: West African XOF (CFA.)
Approx. Ex. Rate: 1 US Dollar = 475 West African XOF
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 not Submitted
Profit and Loss (expressed in CFA.)
2010
Sales 416,000,000
BANK
Bank Name: Banque
Internationale Du
Branch: Carrefour Des 3
Banques, Avenue Giran, 03 BP 2098
Telephone: 229-21315549/
21315621
Account Number: 40270100100003
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
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.44.99 |
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1 |
Rs.73.24 |
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Euro |
1 |
Rs.62.80 |
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.