MIRA INFORM REPORT

 

 

Report Date :

20.12.2012

 

IDENTIFICATION DETAILS

 

Name :

TRADE WELL INTERNATIONAL

 

 

Registered Office :

Kenema, Sierra leone, West Africa

 

 

Country :

Sierra Leone

 

 

Date of Incorporation :

16.05.2007

 

 

Com. Reg. No.:

Not Available 

 

 

Legal Form :

Limited Liability Company, Limited by shares

 

 

Line of Business :

General Traders dealing with general merchandise such as consumer goods etc

 

 

No. of Employees :

10 employees

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

 

 

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 – June 30th, 2012

                                                   

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Sierra Leone

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Sierra Leone - ECONOMIC OVERVIEW

 

Sierra Leone is an extremely poor nation with tremendous inequality in income distribution. While it possesses substantial mineral, agricultural, and fishery resources, its physical and social infrastructure has yet to recover from the civil war, and serious social disorders continue to hamper economic development. Nearly half of the working-age population engages in subsistence agriculture. Manufacturing consists mainly of the processing of raw materials and of light manufacturing for the domestic market. Alluvial diamond mining remains the major source of hard currency earnings, accounting for nearly half of Sierra Leone's exports. The fate of the economy depends upon the maintenance of domestic peace and the continued receipt of substantial aid from abroad, which is essential to offset the severe trade imbalance and supplement government revenues. The IMF completed a Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation and in 2010 approved a new program worth $45 million over three years. Political stability has led to a revival of economic activity such as the rehabilitation of bauxite and rutile mining, which are set to benefit from planned tax incentives. A number of offshore oil discoveries were announced in 2009 and 2010. The development on these reserves, which could be significant, is still several years away.

 

Source CIA

 

 

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

TRADE WELL INTERNATIONAL

Principal Address:

Kenema, Sierra leone, West Africa Sierra Leone

Telephone:

+232-798904422

Fax:

+232-798904422

Email:

None

Internet:

None

Established:

16/05/2007

Registration:

West Africa, Sierra Leone

Legal Form:

Limited Liability Company, Limited by shares

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

10

 

 

 

Office & Factories

Head offices

Kenema, Sierra leone, West Africa, Sierra Leone

Branches

None

 

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

President/ CEO (1)

Name

Mr. A. Shukla

Active in daily business:

Active

Current Title:

Director

Country of residence

Sierra Leone

Remarks

Top Decision Maker

 

 

 

NEGATIVE INFORMATION

 

No negative information found

 

 

SHARE & SHARE CAPITAL INFORMATION

 

Share Capital

Nominal Capital

SLL. 10,000,000

Paid in Capital

SLL. 10,000,000

Subscribed Capital

SLL. 10,000,000

 

 

Shareholders

Name

Position

   Amount  

       Ratio

Mr. A. Shukla

Director

 

 

Mr. S. Mustapha

Manager

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

30% in cash, 70% on credit

Selling terms

Cash only

Suppliers

None Stated

Customers

Local Stores, Public

 

 

Recent Sales

SLL. 650,000,000  (2011 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

10.0%

Domestic Market Share

20.0%

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = SLL. 4349.98

 

ADDITIONAL INFORMATION

 

Established:

16/05/2007

Registration:

West Africa, Sierra Leone

Legal Form:

Limited Liability Company, Limited by shares

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

10

 

 

 

Office & Factories

Head offices

Kenema, Sierra leone, West Africa, Sierra Leone

Branches

None

 

Business Activities

General Traders dealing with general merchandise such as consumer goods etc

 

Business Premises

1000 Sft

Type of occupation                                              

Leased

Location 

The subject is located close to a major road network                       

Premises used as                                               

Offices

 

Banking relationship

Main Banks

Sierra Leone Commercial Bank

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.74

UK Pound

1

Rs.89.02

Euro

1

Rs.72.48

 

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%)

 

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.