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Report Date : |
17.12.2012 |
IDENTIFICATION DETAILS
|
Name : |
WIAME IMPORT EXPORT |
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|
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Registered Office : |
Résidence Rayan, 8 Avenue Al Madina Al Mounawara Appt N° 7 ‑ Hay
Amal, Fes |
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Country : |
Morocco |
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Date of Incorporation : |
04.09.2009 |
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Reg. No.: |
32343 |
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|
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Legal Form : |
Societe A Responsibilite Limitee |
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Line of Business : |
Wholesale of coffee, tea, cocoa and spices |
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No. of Employees : |
05 employees |
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 |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Morocco |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Morocco - ECONOMIC OVERVIEW
Morocco has capitalized on its proximity to Europe and relatively low labor costs to build a diverse, open, market-oriented economy. In the 1980s Morocco pursued austerity measures and pro-market reforms, overseen by the IMF. Since taking the throne in 1999, King MOHAMMED VI has presided over a stable economy marked by steady growth, low inflation, and generally declining government debt. Industrial development strategies and infrastructure improvements - most visibly illustrated by a new port and free trade zone near Tangier - are improving Morocco's competitiveness. Key sectors of the economy include agriculture, tourism, phosphates, textiles, apparel, and subcomponents. In 2006 Morocco entered into a bilateral Free Trade Agreement with the United States; it remains the only African country to have one. In 2008 Morocco entered into an Advanced Status agreement with the European Union. Despite Morocco's economic progress, the country suffers from high unemployment and poverty. In 2011, high food and fuel prices strained the government's budget and widened the country's current account deficit. Key economic challenges for Morocco include fighting corruption, reducing government spending, reforming the education system and judiciary, addressing socioeconomic disparities, and building more diverse, higher value-added industries.
|
Source : CIA |
WIAME IMPORT EXPORT
Registration
Number: 32343
Registration Date: 04/09/2009
Legal Form: SOCIETE A
RESPONSIBILITE LIMITEE
Latest Financials: N/A
Nominal Capital: 100,000 Moroccan
Dirham
Issued Capital: N/A
Turnover: 4,000,000 Moroccan
Dirham
Net Profit: N/A
Net Worth: N/A
Investigation Number: 172840
Company Name: WIAME
IMPORT EXPORT
Country: MO
Street Name: 12
RUE OUAD AL JAW AHER,NARJISS C,30070 FES
City Code:
Phone Number: 212535619295
Company Name: WIAME
IMPORT EXPORT
Also trades as: WIMEX
Headquarter Address: 12 Rue Ouad
Al Jawaher,
Narjiss
C,
Fes
30070,
Morocco
Telephone: +212522
619295
Fax: +212522
619294
E‑Mail: mouhcine@wimex.ma
Web Site: www.wimex.ma
(under construction)
Company was originally started on 04/09/2009
Current Legal Form: SOCIETE
A RESPONSIBILITE LIMITEE
Registration Address: Résidence
Rayan,
8 Avenue Al Madina
Al Mounawara Appt N° 7 ‑ Hay Amal, Fes
Registration Number: 32343
Registration Date: 04/09/2009
Year/Date Company Established: 04/09/2009
Registration Town: Fes
Tax Registration Number: 40119739
Currency: Moroccan
Dirham
Authorized Capital: 100,000
Paid Up Capital: 100,000
Number of Shares: 1,000 Type of Shares: None Selected
Issued Shares: 1,000 Value per share: MDH 100.00 Value of this type: 100,000.00
Shareholders:
Name/Other Information Shares Held % of Voting/Non‑Voting capital
Mr. Mouhcine Essalim, 1,000 100.00% (VOTING)
Fes,
Morocco
Name: Mr
Mouhcine Essalim
Position within the company: General
Manager
Date of Birth: 01/01/1976
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: Arabic,
French & English
NACE Codes: 4637 Wholesale of coffee, tea, cocoa and spices
4631 Wholesale of fruit and vegetables
The company is
engaged in trade of food products.
Subject imports spices and groundnut from
India, Indonesia, Philippines, USA and Senegal and then distributes to the
local market on a wholesale basis.
Subject
exports oranges and chickpea to Russia, Turkey, Syria and Tunisia.
Local
Reporters consider the investigated company to be SMALL in their field of
concern.
Employees Company Employs: 5
HQ Premises Operates from: Rented Office , Warehouse
Location: Central Business Area
Branches Route de Sidi
Hrazem,
Fes,
Morocco
Branch is:
Rented
Description
of branch: Warehouse
Import % and type of product: 100%
Finished Goods
Imports From: India,
Indonesia, Philippines, USA, Senegal
Importing Terms: Cash
against documents
Additional Information: Letters
of credit
Exports To: Russia,
Turkey, Syria, Tunisia
Exporting Terms: cash
against documents
Type of Customer: Wholesalers
Number of accounts: 20
Subsidiaries
Affiliates
Information on Related Companies is not available/applicable
BMCE Bank,
Branch: Centre d'Affaires Fes
Place Mohamed V,
Fes 30000,
Morocco
Relationship with Bank: is
reported to be normal
Source: Mr.
Mouhcine Essalim General Manager
Figures are: Estimates
Currency: Moroccan
Dirham
Months Sales Figures Sales Gross Profit/Loss Net
Profit/Loss
11 30/11/2012 4,000,000
12 31/12/2011 1,000,000
Subject's payments reported to be: NO
COMPLAINTS
Other Comments
Other Comments: Patent N° :
14261372
Name/Title: Mr. Mouhcine
Essalim General Manager
Comment: Subject has
confirmed the general details shown in the report.
Latest
Financial Statements are not currently available.
Subject has
offered brief financial data only and refused to provide full financial information.
Reporter Comment Date: 07/12/2012
Reporter Comment: All
legal forms in Morocco are obliged by law to be registered with the Registry
Office (OMPIC:
Office Marocain de la Propriete Industrielle et Commerciale) which is
publicly available.
Subject was found registered and Information
obtained from above official source is as follows :
Registered name / registration number / date
of registration / registered address / legal form / capital / main principals –
administrators / shareholders.
According to the Morocco Commercial Law, all
legal forms except for proprietorship entities are obliged to file their
financial accounts to the OMPIC. However, The subject financial statements are
not yet available.
Any other data stated in the report was
obtained directly from the subject company and/or other publicly available information. Therefore it should be used as a
point of reference as it is not possible to verify such data with official
sources.
Local Reputation: The company
being investigated is considered by local reporters to be a Fair / Normal Trade
Risk.
Owner/Shareholders
Comments: All or most of the
owners / shareholders have an active participation in the running of the
business.
Financial Results Trend: Financial
Information indicates that the business activities of the
company are
showing an upward turn.
Age of Business: The
company has been established for under 5 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.87.78 |
|
Euro |
1 |
Rs.71.29 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.