MIRA INFORM REPORT

Report Date :

04.06.2012

IDENTIFICATION DETAILS

Name :	EL IMTIYAZ IMP. EXP. CO. LTD. SARL
Registered Office :	306 Rue Errezek, Nouakchott
Country :	Mauritania
Date of Incorporation :	31.01.2007
Com. Reg. No.:	51329
Legal Form :	Societe A Responsibilite Limitee
Line of Business :	Subject is engaged in import, export and wholesale of food products including : pasta, rice, tea, dates, juice, oil, canned food
No. of Employees :	10

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 :	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 – March 31^st, 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
High	B2
Very High	C1
Restricted	C2
Off-credit	D

Company name

EL IMTIYAZ IMP. EXP. CO. LTD. SARL

Rating Briefing

Payment Record: NO COMPLAINTS

This rating is based on available data. In the event of additional information a possibility for a different rating applies.

Registration Briefing

Registration Number: 51329

Registration Date: 31/01/2007

Legal Form: SOCIETE A RESPONSIBILITE LIMITEE

Latest Financials: N/A

Financial Briefing

Nominal Capital: 15,000,000 Mauritanian Ouguiya

Issued Capital: N/A

Turnover: 500,000,000 Mauritanian Ouguiya

Net Profit: N/A

Net Worth: N/A

Company Details

Company Name: EL IMTIYAZ IMP. EXP. CO. LTD. SARL

Headquarter Address: 306 Rue Errezek,

Nouakchott,

Mauritania

Telephone: +2222 5017394

+2222 6354567

+2223 6354567

Fax: +2224 5257834

Company was originally started on 31/01/2007

Registration & Legal Details

Current Legal Form: SOCIETE A RESPONSIBILITE LIMITEE

Registration Address: 306 Rue Errezek,

Nouakchott

Registration Number: 51329

Registration Date: 31/01/2007

Year/Date Company Established: 31/01/2007

Registration Town: Nouakchott

Tax Registration Number: 307

Capital

Currency: Mauritanian Ouguiya

Authorized Capital: 15,000,000

Paid Up Capital: All

Shareholders / Owners

Shareholders:

Name/Other Information Shares Held % of

Voting/Non‑Voting

capital

Mr. Abderrahman Ould Sidi Ahmed, 100.00% (VOTING)

Nouakchott,

Mauritania

Principals

Name: Mr Abderrahman Ould Sidi Ahmed

Position within the company: General Manager

Country of Birth: Mauritania

Nationality: Mauritanian

Can fluently speak: Arabic & French

Company Activities

NACE Codes: 4639 Non‑specialised wholesale of food, beverages and tobacco

The company is engaged in import, export and wholesale of food products including : pasta, rice, tea, dates, juice, oil, canned food ...

Subject imports 100% of food products from France, Poland, Tunisia, Egypt, Indonesia & Malaysia.

Subject exports 60% to Senegal & Mali and distributes 40% to the local market on a wholesale basis.

Local Reporters consider the investigated company to be MEDIUM in their field of concern.

Operations

Employees Company Employs: 10

HQ Premises Operates from: Owned Office

Location: Central Business Area

Branches 307 Rue Errezek,

Nouakchott,

Mauritania

Branch is: Owned

Description of branch: Shop

310 Rue Errezek,

Nouakchott,

Mauritania

Branch is: Owned

Description of branch: Shop

Imports

Import % and type of product: 100% Finished Goods

Imports From: France, Poland, Tunisia, Egypt,

Indonesia, Malaysia

Importing Terms: Bank transfer

Exports

Export % and type of product: 60%

Exports To: Senegal, Mali

Exporting Terms: cash

Trading & Selling

Territory: 40% Nationally, 60% International

Type of Customer: Wholesalers

Number of accounts: 20

Related Companies

Subsidiaries

Affiliates

Information on Related Companies is not available/applicable

Bankers

Banque Nationale de Mauritanie (BNM),

Branch: Nouakchott

Avenue Roi Faiçal ‑ BP 291 & 614,

Nouakchott,

Mauritania

Account Number: 621 920

Banque Al Amana (BEA),

Branch: Nouakchott

BP 5559,

Nouakchott,

Mauritania

Account Number: 1262 932

Financial Information

Source: Mr. Abderrahman Ould Sidi Ahmed General Manager

Figures are: Estimates

Currency: Mauritanian Ouguiya

Months Sales Figures Sales Gross Profit/Loss Net

Profit/Loss

12 31/12/2011 500,000,000

12 31/12/2010 600,000,000

Payments

Subject's payments reported to be: NO COMPLAINTS

Interview & Reporter Comments

Name/Title: Mr. Abderrahman Ould Sidi Ahmed General Manager

Comment: Subject has confirmed the general details shown in the report.

Reporter Comment Date: 31/05/2012

Reporter Comment: Please note that the company fax number is 00 222 45 25 7834

not as mentioned in the enquiry.

Conclusions

Local Reputation: The company being investigated is considered by local reporters to be

a Fair / Normal Trade Risk.

Owner/Shareholders Comments: All or most 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.55.92
UK Pound	1	Rs.86.03
Euro	1	Rs.69.13

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.