MIRA INFORM REPORT

 

 

Report Date :

03.08.2012

 

IDENTIFICATION DETAILS

 

Name :

BANJUL CYCLE EXPRESS

 

 

Registered Office :

13 Picton Street, Banjul

 

 

Country :

Gambia

 

 

Date of Incorporation :

06.12.2001

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Importers and distribution of motor Cycles, Bicycles, Spares Parts, and Accessories

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Gambia

C1

C1

 

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:

BANJUL CYCLE EXPRESS

Principal Address:

13 Picton Street, Banjul, Gambia

Telephone:

+220-42245657.47700983

Fax:

+220-4224567

Email:

None

Internet:

None

Established:

6/12/2001

Registration:

Banjul, Gambia

Legal Form:

Sole Proprietorship

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

10

 

 

 

Office & Factories

 

Head offices

13 Picton Street, Banjul, Gambia

Branches

None

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

 

President/ CEO (1)

 

Name

Mr. Mamodou Samba Jallow

Remarks

Top Decision Maker

 

NEGATIVE INFORMATION

 

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

 

Nominal Capital

GMD. 800,000

 

Shareholders

 

Name

Position

   Amount  

       Ratio

Mr. Mamodou Samba Jallow

Director

 

100.00%

Mr. Omar Darboe

Manager

 

 

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

Various Companies

Customers

firms and organizations

 

 

Recent Sales

GMD 45,000,000  (2011 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

40.0%

Domestic Market Share

10.0%

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

FINANCIAL INFORMATION

 

N/a

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = GMD. 28.50

 

ADDITIONAL INFORMATION

 

Business Activities

Importers and distribution of motor Cycles, bicycles, spares Parts, And accessories

 

Business Premises

5000 Sft

Type of occupation                                               

Rented

Location 

The subject is located close to a major road network                      

Premises used as                                               

Offices

 

Banking relationship

 

Main Banks

Arab Gambian Islamic Bank

 

Credit Check of Subject, President & CEO (as of report date)

Payment Morale:

In the documents at our disposal nothing adverse has been shown so far.

CREDIT RATING:

Financial situation is average.

 

NOTES & COMMENTS

 

--

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.54

UK Pound

1

Rs.87.39

Euro

1

Rs.68.72

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.