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Report Date : |
01.06.2012 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE DES PRODUITS ALIMENTAIRES FAMO |
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Registered Office : |
Lot 64 Zone Industrielle Foire, |
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Country : |
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Year of Establishment : |
1976 |
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Com. Reg. No.: |
6062 |
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Legal Form : |
Societe Par
Actions |
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Line of Business : |
Manufacturer of macaroni, noodles,
couscous and similar farinaceous products |
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No. of Employees : |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Poor |
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Payment Behaviour : |
Unknown |
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Litigation : |
--- |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Mauritania |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
SOCIETE DES
PRODUITS ALIMENTAIRES FAMO
Payment Record: UNDETERMINED
This
rating is based on available data. In the event of additional information a
possibility for a different rating applies.
Registration Number: 6062
Registration Date: 1976
Legal Form: SOCIETE PAR ACTIONS
Latest Financials: N/A
Nominal Capital: 428,000,000 Mauritanian Ouguiya
Issued Capital: N/A
Turnover: 2,720,302,365 Mauritanian Ouguiya
Net Loss: 194,523,837
Net Worth: N/A
Company
Name: SOCIETE
DES PRODUCTS ALIMENTAIRES FAMO
Country: MM
Street
Name: LOT
64 ZONE INDUSTRIELLE FOIRE
City
Code:
Phone
Number: 22245253239
Comments: Please
provide the maximum credit limit & latest financials on
the subject company
ALWAYS INCLUDE FULL LINE OF BUSINESS ALONGWITH
NAMES OF PRODUCTS MANUFACTURED / TRADED BY THE
SUBJECT AS THIS IS REQUIRED BY OUR CLIENT
SPECIFICALLY.
Notes
: R.C N° : 6062 NOUAKCHOTT
Please
Note :
If you have already provided this Report within last 6
Months,
Please do not proceed as a New Inquiry and Inform us
immediately by return.
IF THE GIVEN NAME AND ADDRESS WHICH WE HAVE
PROVIDED DIFFERS THAN KINDLY MENTION THE
RELATION OF THE SAME IN THE REPORT.
Company
Name: SOCIETE
DES PRODUITS ALIMENTAIRES FAMO
Also
trades as: SPA
FAMO MAURITANIE
Headquarter
Address: Lot
64 Zone Industrielle Foire,
El Mina,
Nouakchott,
Mauritania
Postal
Address: P.O.Box
677,
Nouakchott
Telephone: +2224525
3239
Fax: +2224525
8157
Company
was originally started on 1976
Current
Legal Form: SOCIETE
PAR ACTIONS
Registration
Address: Lot
64 Zone Industrielle Foire,
Nouakchott
Registration
Number: 6062
Registration
Date: 1976
Year/Date
Company Established: 1976
Registration
Town: Nouakchott
Currency: Mauritanian
Ouguiya
Authorized Capital: 428,000,000
Paid Up Capital: 428,000,000
Previous Capital amount: 160,000,000
Capital
increase on 2008
Parent Company: CEREALES, FARINES ET PATES SA (C.F.P),
Geneva,
Switzerland
% Shares Held: 77.77%
Shareholders:
Name/Other Information Shares
Held % of
Voting/Non‑Voting
capital
Mr.
Ahmed Hamza,
Mauritania
Abeidy Ould
Gharraby Family,
Mauritania
Teyeb
Ould Sneiba Family,
Mauritania
Name: Mr
Ahmed Hamza
Position within the company: General Director
Nationality: Mauritanian
Can fluently speak: Arabic
& French
Name: Mr
Abdellah Ould Ismail
Position within the company: Commercial Director
Nationality: Mauritanian
Can fluently speak: Arabic
& French
Name: Mr
Amadou Diaw
Position within the company: Accountant
Additional Information: Mail : diawaal@hotmail.fr
Nationality: Senegalese
Can fluently speak: French
Name: Mr
Jean Pierre Dermier
Position within the company: Technical Director
Nationality: French
Can fluently speak: French
NACE Codes: 1073 Manufacture
of macaroni, noodles, couscous and similar farinaceous products –
100%
FAMO
MARITANIE is an industrial company specialized in manufacture and marketing of
pastas and couscous.
Subject
imports 100% of raw materials (semolina) from France, Spain & Tunisia.
Subject
manufactures pastas and then distributes 100% of manufactured products on a
wholesale basis to the local market.
Local
Reporters consider the investigated company to be LARGE in their field of
concern.
Employees Company Employs: 80
HQ Premises Operates from: Owned Offices , Factory, Warehouse
Location: Industrial
Area
Imports
Import % and type of product: 100% Raw Materials
Imports From: France,
Spain, Tunisia
Importing Terms: Letters
of credit
Brands: FAMO
‑ Pasta
Exports
Export % and type of product: Subject does not export
Trading
& Selling
Territory: 100%
Nationally
Type of Customer: Wholesalers,
Groceries & Supermarkets
Subsidiaries
Affiliates
Information
on Related Companies is not available/applicable
Banque
Mauritanienne pour le Commerce International (BMCI),
Branch:
Nouakchott
Avenue
Gamal Abdel Nasser, BP 622,
Nouakchott,
Mauritania
Générale
de Banque de Mauritanie (GBM),
Branch:
Nouakchott
Avenue
l'Independance, BP 5558,
Nouakchott,
Mauritania
Source: Mr.
Amadou Diaw Accountant
Figures are: Official
Figures
Currency: Mauritanian
Ouguiya
Months Sales
Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 31/12/2011 2,720,302,365 (194,523,837)
12 31/12/2010 2,268,645,011 (110,957,500)
12 31/12/2009 2,642,439,800 (38,331,726)
12 31/12/2008 2,541,129,993 (334,028,023)
Subject's payments reported to be: UNDETERMINED
Name/Title: Mr.
Amadou Diaw Accountant
Comment: Subject
has confirmed the general details shown in the report.
Reporter Comment: Please
note that Mr. Amadou Diaw, Accountant, confirmed that
the
decline of the company profits is due to the rising of inputs
costs
and competition.
Local Reputation: The
company being investigated is believed by local reporters to be a
High
Trade Risk.
Owner/Shareholders Comments: Some 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 declining in strength.
Age of Business: The
company is long established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.42 |
|
UK Pound |
1 |
Rs.87.37 |
|
Euro |
1 |
Rs.69.95 |
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 |
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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 |
|
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 |
|
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 |
|
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NB |
New Business |
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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.