MIRA INFORM REPORT
|
Report Date : |
22.02.2012 |
IDENTIFICATION DETAILS
|
Name : |
CAMSA SARL |
|
|
|
|
Registered Office : |
10 Alime Achtatani Angle Rue de Stockholme, Casablanca |
|
|
|
|
Country : |
Morocco |
|
|
|
|
Date of Incorporation : |
26.11.1951 |
|
|
|
|
Com. Reg. No.: |
18901 |
|
|
|
|
Legal Form : |
Societe A Responsibilite
Limitee |
|
|
|
|
Line of Business : |
Subject is engaged in import and export of food products include
olive oil, other vegetable oils, honey, dried fruits & vegetables |
|
|
|
|
No. of Employees
: |
12 |
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 : |
Unknown |
|
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 30th, 2011
|
Country Name |
Previous Rating (30.06.2011) |
Current Rating (30.09.2011) |
|
Morocco |
a2 |
a2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CAMSA SARL
Registration Number: 18901
Registration Date: 26/11/1951
Legal Form: SOCIETE A RESPONSIBILITE LIMITEE
Latest Financials: N/A
Nominal Capital: 800,000 Moroccan Dirham
Issued Capital: N/A
Turnover: N/A
Net Profit: N/A
Net Worth: N/A
Company Name: CAMSA
SARL
Headquarter Address: 10
Alime Achtatani Angle Rue de Stockholme,
Casablanca,
Morocco
Telephone: +212522
287020
+212522 287022
Fax: +212522
284771
E‑Mail: camsa_sarl@yahoo.fr
Company was originally started on 26/11/1951
Current Legal Form: SOCIETE
A RESPONSIBILITE LIMITEE
Registration Address: 10
Alime Achtatani Angle Rue de Stockholme,
Casablanca
Registration Number: 18901
Registration Date: 26/11/1951
Year/Date Company Established: 26/11/1951
Registration Town: Casablanca
Tax Registration Number: 2500890
Currency: Moroccan
Dirham
Authorized Capital: 800,000
Paid Up Capital: 800,000
Number of Shares: 8,000 Type
of Shares: None Selected
Issued Shares: 8,000 Value
per share: MDH 100.00 Value
of this type: 800,000.00
Shareholders:
Name/Other Information Shares
Held % of
Voting/Non‑Voting
capital
Mr. Ahmed Laghrari & Family, 8,000 100.00% (VOTING)
Casablanca,
Morocco
Name: Mr
Ahmed Laghrari
Position within the company: Managing director
Date of Birth: 1948
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: Arabic
& French
Name: Mr
Abderrahim Laghrari
Position within the company: Joint Managing director
Date of Birth: 1949
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: Arabic
& French
Family Connections with: Mr.
Ahmed Laghrari as brother of
Name: Ms
Nisma Laghrari
Position within the company: Commercial Manager
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: Arabic
& French
NACE Codes: 4639 Non‑specialised wholesale of
food, beverages and tobacco
The company is engaged in import and export of food products :
olive oil, other vegetable oils, honey, dried fruits & vegetables.
Local Reporters consider the investigated company to be MEDIUM in
their field of concern.
Employees Company Employs: 12
HQ Premises Operates from: Rented Office
Premises Size: 100
square meters
Location: Central
Business Area
Branches 15 Rue Bouchaib Meqdad,
Derb Omar,
Casablanca,
Morocco
Branch is: Rented
Description of branch: Warehouse, Shop
Branch premises size: 200.00 sq.mtrs.
Imports
Import % and type of product: 70% Finished Goods
Imports From: Spain,
India, China, Argentina
Importing Terms: Letters
of credit
Additional Information: Cash
against documents
Bank transfer
Exports
Export % and type of product: 10%
Exports To: Netherlands,
Canada
Exporting Terms: bank
transfer
Trading & Selling
Territory: 90%
Nationally, 10% International
Type of Customer: Wholesalers
& Resellers
Vehicles: Total
number of vehicles: 4
Subsidiaries
Affiliates
Information on Related Companies is not available/applicable
BMCE Bank,
Branch: Hassan II
140 Avenue Hassan II,
Casablanca,
Morocco
Banque Populaire,
Branch: Hassan II
79 Avenue Hassan II,
Casablanca,
Morocco
Other Comments
Other Comments: Patent
N° : 34450572
Name/Title: Mr.
Mohamed Laghrari Shareholder
Comment: Subject
has confirmed the general details shown in the report.
Latest Financial Statements are not currently available.
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.
According to the Morocco Commercial Law, all legal forms except
for proprietorship entities are obliged to file their financial accounts to the
OMPIC. However, subject has not yet filed the financial accounts.
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: Some of the owners / shareholders have an active
participation in the
running
of the business.
Age of Business: The
company is a long established family run business.
Country: Morocco
Date: 21/02/2012 00:00:00
Source: Economist
Intelligence Unit
Economy: Economy grew by 4.8% in third
quarter of 2011
January 11th 2012
Morocco's economy expanded by 4.8% year on year in real terms in
the third quarter of 2011, compared with growth of 3.1% in the same period of
2010. According to the Haut commissariat au plan, Morocco's statistics agency,
domestic demand was the primary driver of growth. Private consumption rose by
7.3% year on year and government consumption was up by 5.2%. Fixed investment
rose by 4.6%. However, imports of goods and services continued to be exert a
major drag on economic performance, up nearly 15% year on year, a faster pace
than at the start of 2011, while export volume growth has slowed. At a meeting
of its board, Bank al‑Maghrib (BAM; the central bank) revised down its
estimate of overall 2011 GDP growth to between 4% and 5% from 4.5% to 5.5% (the
Economist Intelligence Unit estimates the economy expanded by 4.4%). The bank
cited lower tourism revenue and weaker exports of phosphates and associated
products. BAM expects 2012 real GDP growth of 4‑5% unless there is a serious deterioration in European economies, but
we forecast that growth will be weaker.
Post and telecommunications was the fastest growing segment of the
economy, up 19% in real terms to the end of September while social spending and
construction and public works also recorded significant growth rates of 8.1%
and 7.1% respectively. Agriculture, the single largest component of Morocco's
economy, expanded by 4.1%. Hotels and restaurants shrank in the third quarter
by 2.6% year on year. Given that this period encompassed the summer months, in
which Morocco generally receives large amounts of tourists, the decline in this
sector confirms reports that visitors, particularly those from Europe, are
reducing travel to Morocco. The absence of large numbers of European tourists
who may be reluctant to spend on holidays abroad given the precarious economic
conditions at home, has been compounded by the fact that the Islamic holy month
of Ramadan fell in the month of August in 2011. Ramadan will continue to fall
in summer months for the next six years.
Risk: January 16th 2012
Sovereign risk
Stable.
Morocco's sovereign debt risk has been downgraded to B. The fiscal
account will remain deeply in deficit, owing to high recurrent expenditure on
subsidies and wages, but this should be financed mostly by borrowing from
domestic banks.
Currency risk
Stable. The current exchange‑rate system—a managed
float—will remain in place. The Moroccan dirham is strengthening against the
euro, but the central bank has the capacity to intervene if necessary to
protect exporters.
Banking sector risk
Stable. The banking sector has benefited from prudential
regulation, relatively low levels of non‑performing loans (although these
are rising) and limited direct foreign exposure. The government is encouraging saving among rural Moroccans and expatriates
in an effort to improve liquidity.
Political risk
The government will increase public spending in the short term to
quell political and social unrest over unemployment and poverty. Tensions over
the disputed territory of Western Sahara may also lead to violent
demonstrations.
Economic structure risk
Dependence on agriculture leaves economic performance vulnerable
to weather conditions. The fiscal and external deficits fluctuate in line with
international commodity prices but are manageable.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.08 |
|
UK Pound |
1 |
Rs.77.79 |
|
Euro |
1 |
Rs.65.17 |
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.