MIRA
INFORM REPORT
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Report Date : |
14.10.2011 |
IDENTIFICATION DETAILS
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Name : |
CT MOTORS |
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Registered Office : |
BP 8585 Antananarivo 101 |
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Country : |
Madagascar |
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Date of Incorporation : |
15.03.2006 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
Auotmotive firm,
Distributors of automotive spares, accessories 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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Maximum Credit Limit : |
USD 30,000 |
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Status : |
Moderate |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Madagascar |
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: |
CT MOTORS |
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Principal Address: |
BP 8585 Antananarivo 101, Madagascar |
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Telephone: |
+261-2332052/ 340714455 |
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Fax: |
+261-2332052/ 202364377 |
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Email: |
chamine.tahora@sodim.mg/
fred.ctmotors@sodim.mg |
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Internet: |
None |
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Established: |
15/03/2006 |
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Registration: |
Antananarivo 101, Madagascar |
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Legal Form: |
Limited Liability Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2010 |
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30 |
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Office & Factories |
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Head offices |
Lot IVV 59 Ankazomanga Nord-BP 8585 Antananarivo 101, Madagascar |
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Branches |
None |
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CREDIT RECOMENDATION
Current Credit Limit: USD
30,000
DIRECTORS/MANAGEMENT
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Management/
Directors |
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President/
CEO (1) |
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Name |
Chamine Tahora |
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Remarks |
Top Decision Maker |
̃ 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 |
MGA. 50,000,000 |
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Paid in Capital |
MGA. 50,000,000 |
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Subscribed Capital |
MGA. 50,000,000 |
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Shareholders |
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Name |
Position |
Amount
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Ratio |
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Chamine Tahora |
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 |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
60.0% |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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Affiliated Companies |
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Company (1) |
SODIM |
FINANCIAL INFORMATION
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Recent
Sales |
MGA. 3,520,000,000
(2010 Estimated) |
FOREIGN EXCHANGE RATES
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Exchange Rate |
US$ 1 = MGA. 2044 |
ADDITIONAL INFORMATION
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Business Activities |
Auotmotive firm,
Distrib utors of automotive spares, accessories etc |
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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 |
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Suppliers |
Various
Companies |
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Customers |
firms
and organizations |
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Recent
Sales |
MGA. 3,520,000,000
(2010 Estimated) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
60.0% |
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Domestic
Market Share |
10.0% |
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Business Premises |
10,000 Sft |
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Type of occupation
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Owned |
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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 |
BMOI Bank |
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HDFC 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. |
NOTES & COMMENTS
COMMENTS
Maximum credit we recommend is USD 50,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.02 |
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|
1 |
Rs.77.13 |
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Euro |
1 |
Rs.67.55 |
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 |
-- |
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.