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Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GLOBAL TRADING COMPANY INC |
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Registered Office : |
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Country : |
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Date of Incorporation : |
09.08.1999 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
General Traders dealing with gold dust etc |
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No. of Employees : |
10 employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Cameroon |
C1 |
C1 |
|
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 |
Cameroon - ECONOMIC OVERVIEW
Because of its modest oil resources and favorable agricultural conditions,
Cameroon has one of the best-endowed primary commodity economies in sub-Saharan
Africa. Still, it faces many of the serious problems confronting other
underdeveloped countries, such as stagnant per capita income, a relatively
inequitable distribution of income, a top-heavy civil service, endemic
corruption, and a generally unfavorable climate for business enterprise. Since
1990, the government has embarked on various IMF and World Bank programs
designed to spur business investment, increase efficiency in agriculture,
improve trade, and recapitalize the nation's banks. The IMF is pressing for
more reforms, including increased budget transparency, privatization, and
poverty reduction programs. Subsidies for electricity, food, and fuel have
strained the budget. New mining projects - in diamonds, for example - have
attracted foreign investment, but large ventures will take time to develop.
Cameroon's business environment - one of the world's worst - is a deterrent to
foreign investment.
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Source : CIA |
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COMPANY REPORTED: |
GLOBAL TRADING COMPANY
INC |
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Principal Address: |
P.o. Box 263 Yaounde,
Cameroon |
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Telephone: |
+237-33-362023 |
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Cell: |
+237-98657058/5/79462187 |
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Fax: |
+237-33-322222 |
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Email: |
globaltrading2.inc@gmail.co.in
/ globaltraders2004@gmail.com
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Skype: |
yonghocompany |
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Internet: |
None |
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Established: |
09/08/1999 |
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Registration: |
Cameroon |
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Legal Form: |
Limited Liability
Company, Limited by shares |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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10 |
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Office & Factories |
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Head offices |
Street 4, Nnguti,
Yaounde, Cameroon |
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Branches |
Douala, Cameroon |
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mr.
Davide Holman |
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Active
in daily business: |
Active |
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Current
Title: |
Managing
Director |
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Country of residence |
Cameroon |
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Remarks |
Top Decision Maker |
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Manager
(2) |
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Name |
Mr.
Hassan Mohamed |
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Active
in daily business: |
Active |
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Current
Title: |
Manager |
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Country of residence |
Cameroon
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No negative information found.
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Company Profile: |
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Nominal Capital |
CFA.
1,000,000 |
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Paid in Capital |
CFA.
1,000,000 |
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Subscribed Capital |
CFA.
1,000,000 |
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Shareholders |
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Name |
Position |
Amount |
Ratio |
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Mr.
Davide Holman |
MD |
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Mr.
Hassan Mohamed |
Manager |
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Total |
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100.00% |
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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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|
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Suppliers |
None
Stated |
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Customers |
Public,
firms |
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Recent
Sales |
CFA.
250,000,000 (2011 Estimated) |
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Exports |
Asia |
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Export
Ratio |
5.0% |
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Import
Ratio |
10.0% |
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Domestic
Market Share |
20.0% |
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Affiliated Companies |
None |
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Exchange Rate |
US$ 1 = CFA. 514.64 |
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Business Activities |
General
Traders dealing with gold dust etc |
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Business Premises |
1000 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 |
CitiBank |
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Credit Check of Subject,
President & CEO (as of report date) |
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Payment Morale: |
In the documents at our disposal
nothing adverse has been shown so far. |
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CREDIT RATING: |
Financial situation is
average. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
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UK Pound |
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
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 |
|
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 |
|
<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.