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Report Date : |
14.02.2012 |
IDENTIFICATION DETAILS
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Name : |
SOCAFA SARL |
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Registered Office : |
C/889 Hinde 1, Agbodjedo, Cotonou,
09 BP 615, Cotonou |
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Country : |
Benin |
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Date of Incorporation : |
01.06.2007 |
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Com. Reg. No.: |
MR/COT/07B1818 |
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Legal Form : |
Societe Anonyme Responsabilite Limitee |
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Line of Business : |
Agri-processing services and
solutions |
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No. of Employees : |
22 Employees. |
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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Benin |
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 |
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Registered Name: |
SOCAFA SARL |
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Requested Name: |
SOCAFA SARL |
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Other Names: |
None |
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ADDRESS AND TELECOMMUNICATION
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Physical Address: |
C/889 Hinde 1, Agbodjedo, Cotonou |
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Postal Address: |
09 BP 615 |
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Cotonou |
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Country: |
Benin |
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Phone: |
229-21339854/326588 |
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Fax: |
229-21353618 |
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Email: |
None |
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Website: |
None |
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CREDIT OPINION
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Financial Index as of
December 2011 shows subject firm with a medium risk of credit. However, bank and
credit information obtained reveal a history of prompt payments. We recommend
Credit of USD 50,000 on 90 days. |
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LEGAL
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Legal Form: |
Societe Anonyme Responsabilite Limitee. |
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Date Incorporated: |
1-June-2007 |
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Reg. Number: |
MR/COT/07B1818 |
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Tax Number: |
2446234638192 |
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Nominal Capital |
CFA.
1,000,000 |
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Subscribed Capital |
CFA.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Fassinou Akomavo |
MD |
100% |
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RELATED COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate
Agri-processing services and solutions |
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Imports: |
Asia, Middle East |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
22 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Benin |
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Location: |
Rented premises, 5.000 square feet, |
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AUDITORS AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
West African XOF (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 500.23 West
African XOF |
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Fiscal Year End: |
December 31, 2011 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2011 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in CFA.) |
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2010 |
2011 |
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Sales |
590,000,000 |
620,000,000 |
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BANK |
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Bank Name: |
BGFI
Bank |
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Branch: |
Cotonou |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS |
None |
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COMMENTS / ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.31 |
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1 |
Rs.77.84 |
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Euro |
1 |
Rs.65.35 |
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.