MIRA
INFORM REPORT
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Report Date : |
07.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SICOMEX |
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Registered Office : |
B P 2285 Abidjan 05 Ivory Coast |
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Country : |
Ivory Coast |
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Date of Incorporation : |
10.06.1993 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Ditributors of general merchandise such as
hardware, cosmetics, furniture, household appliance etc |
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No. of Employees : |
120 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 50,000 |
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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 – September 30, 2011
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Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
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Ivory Coast |
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: |
SICOMEX |
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Trade Names: |
ETS SICOMEX |
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Principal Address: |
B P 2285 Abidjan 05 Ivory Coast |
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Telephone: |
+225-21353738/ 2323453830 |
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Fax: |
+225-21353738 |
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Email: |
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Internet: |
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Established: |
10/06/1993 |
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Started |
01/01/ 1994 |
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Registration: |
Cote D'Ivoire (Ivory Coast) |
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Legal Form: |
Sole Proprietorship |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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120 |
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Office & Factories |
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Head offices |
Yopougon Siporex, Abidjan 05 Ivory Coast |
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Branches (5) |
Outlets in Ivory Coast |
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CREDIT RECOMMENDATION
Current Credit Limit: USD 50,000
DIRECTORS/MANAGEMENT
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mr. Mustapha Bourgih |
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Remarks |
Top Decision Maker |
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Director
(2) |
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Name |
Mr. Kalil Bourgih |
̃ 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
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Company Profile: |
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Nominal Capital |
CFA100,000,000 |
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Paid in Capital |
CFA100,000,000 |
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Subscribed Capital |
CFA100,000,000 |
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Shareholders |
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Name |
Position |
Amount
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Ratio |
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Mr. Mustapha Bourgih |
CEO |
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Mr. Kalil Bourgih |
Director |
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Groupe Bourgi |
Holding Co. |
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100.00% |
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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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Suppliers |
Various
Companis |
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Customers |
firms
and organizations |
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Recent
Sales |
CFA. 3850,000,000
(2011 Estimated) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
40.0% |
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Domestic
Market Share |
10.0% |
GROUP STRUCTURE & AFFILIATED
COMPANIES
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Affiliated Companies |
None |
FINANCIAL INFORMATION
Na
FOREIGN EXCHANGE RATES
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Exchange Rate |
US$ 1 = CFA. 499.02 |
ADDITIONAL INFORMATION
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Business Activities |
Ditributors of
general merchandise such as hardware, cosmetics, furniture, household
appliance etc |
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Business Premises |
200,000 Sft |
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Type of occupation
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Leased |
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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 |
BOA Bank |
NOTES & COMMENTS
COMMENTS
Maximum credit we recommend is USD 100,000 outstanding at any one time.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.48.67 |
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|
1 |
Rs.76.75 |
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Euro |
1 |
Rs.63.56 |
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.