MIRA INFORM REPORT

Report Date :

19.10.2011

IDENTIFICATION DETAILS

Name :	SALANI SA (MEMBER OF GROUPE SOULEY SA)

Registered Office :	Z1 Gamkalle, 404 Niamey

Country :	Niger

Date of Incorporation :	15.05.1970

Legal Form :	Limited Liability Company, Limited by shares

Line of Business :	Production and supply of dairy products

RATING & COMMENTS

MIRA’s Rating :

RATING		STATUS	PROPOSED CREDIT LINE
41-55	Ba	Overall operation is considered normal. Capable to meet normal commitments.	Satisfactory

Maximum Credit Limit :	50,000 USD

Status :	Satisfactory

Payment Behaviour :	No Complaints

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^th, 2011

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Niger

Risk Category	ECGC Classification
Insignificant	A1
Low	A2
Moderate	B1
High	B2
Very High	C1
Restricted	C2
Off-credit	D

REGISTERED NAME & COMPANY SUMMARY

COMPANY REPORTED:	SALANI SA (MEMBER OF GROUPE SOULEY SA)
Actual Names:	SOCIÉTÉ DU LAIT DU NIGER(SOLANI)
Principal Address:	Z1 Gamkalle, 404 Niamey, Niger
Telephone:	+227-20733764
Fax:	+227-20734631
Email:	None
Internet:	None
Established:	15/05/1970
Registration:	Niamey, Niger
Legal Form:	Limited Liability Company, Limited by shares
Stock Listing:	Not Listed
Workforce:	2010
	50
Office & Factories
Head offices	Z1 Gamkalle, 404 Niamey, Niger
Branches	None

CREDIT RECOMENDATION

Current Credit Limit: 50,000 USD

DIRECTORS/MANAGEMENT

Management/ Directors

President/ CEO (1)
Name	Hima Souley
Remarks	Top Decision Maker

Director (2)
Name	Yvette Rey

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

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

Company Profile:
Nominal Capital	CFA. 750,000,000
Shareholders
Name	Position	Amount	Ratio
Hima Souley	CEO
Yvette Rey	Director
Abdul Razak Hima Souley	Director
Ismail Hima Souley	Director
Groupe Souley SA	Holding Co.		100.00%
Total			100.00%

PAYMENT INFORMATION

	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit

Suppliers	Dairy Famers
Customers	Hotels, Shopping malls, firms and organizations
Recent Sales	CFA. 512,000,000 (2010 Estimated)
Exports	None
Export Ratio	20.0%
Import Ratio	80.0%
Domestic Market Share	20.0%

GROUP STRUCTURE & AFFILIATED COMPANIES

Affiliated Companies

None

FINANCIAL INFORMATION

FOREIGN EXCHANGE RATES

Exchange Rate

US$ 1 = CFA. 494

ADDITIONAL INFORMATION

Business Activities	Production and supply of dairy products
	Terms of payment
Buying terms	30% in cash, 70% on credit
Selling terms	80% in cash, 20% on credit

Suppliers	Dairy Famers
Customers	Hotels, Shopping malls, firms and organizations

Recent Sales	CFA. 512,000,000 (2010 Estimated)
Exports	None
Export Ratio	20.0%
Import Ratio	80.0%
Domestic Market Share	20.0%

Business Premises	2000 Sft
Type of occupation	Owned
Location	The subject is located close to a major road network
Premises used as	Offices

Banking relationship
Main Banks	BIA-NIGER

NOTES & COMMENTS

COMMENTS

Maximum credit we recommend is USD 50,000 outstanding at any one time.

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	Rs.49.14
UK Pound	1	Rs.77.58
Euro	1	Rs.67.58

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.