|
Report Date : |
09.10.2012 |
IDENTIFICATION DETAILS
|
Name : |
LA SOCIETE GENERALE DE DISTRIBUTION |
|
|
|
|
Registered Office : |
Bp 7468 Dakar |
|
|
|
|
Country : |
Senegal |
|
|
|
|
Year of Establishment : |
2001 |
|
|
|
|
Com. Reg. No.: |
SNDK 2010 D 15324Dakar, Senegal |
|
|
|
|
Legal Form : |
Limited Liability Company, Limited by shares |
|
|
|
|
Line of Business : |
General Traders |
|
|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Senegal |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Senegal - ECONOMIC OVERVIEW
senegal relies heavily on donor assistance. The
country's key export industries are phosphate mining, fertilizer production,
and commercial fishing. The country is also working on iron ore and oil
exploration projects. In January 1994, Senegal undertook a bold and ambitious
economic reform program with the support of the international donor community.
Government price controls and subsidies have been steadily dismantled. After
seeing its economy contract by 2.1% in 1993, Senegal made an important
turnaround, thanks to the reform program, with real growth in GDP averaging
over 5% annually during 1995-2007. Annual inflation had been pushed down to the
single digits. The country was adversely affected by the global economic downturn
in 2009, when GDP growth fell to 2.2%. As a member of the West African Economic
and Monetary Union, Senegal is working toward greater regional integration with
a unified external tariff and a more stable monetary policy. High unemployment,
however, continues to prompt migrants to flee Senegal in search of better job
opportunities in Europe. Under the IMF''s Highly Indebted Poor Countries (HIPC)
debt relief program, Senegal benefited from eradication of two-thirds of its
bilateral, multilateral, and private-sector debt. In 2007, Senegal and the IMF
agreed to a new, non-disbursing, Policy Support Initiative program which was
completed in 2010. The IMF approved a new three-year policy support instrument
in December 2010 to assist with economic reforms. Senegal receives
disbursements from the $540 million Millennium Challenge Account compact it
signed in September 2009 for infrastructure and agriculture development. In
2010, the Senegalese people protested against frequent power cuts. The
government pledged to expand power capacity by 2012 and to promote renewable
energy, but until Senegal has more capacity, more protests are likely. Foreign
investment in Senegal is retarded by Senegal''s unfriendly business
environment.
|
Source : CIA |
|
COMPANY
REPORTED: |
LA SOCIETE
GENERALE DE DISTRIBUTION |
|||
|
Principal Address: |
Bp 7468 Dakar, Senegal |
|||
|
Telephone: |
+221-70631010 |
|||
|
Fax: |
+221-70631010 |
|||
|
Email: |
None |
|||
|
Internet: |
None |
|||
|
Established: |
2001 |
|||
|
Registered: |
2010 |
|||
|
Registration: |
SNDK 2010 D 15324Dakar, Senegal |
|||
|
VAT number: |
004292637 |
|||
|
Tax number: |
CPTE N° SN060 0130 61201206000 23 |
|||
|
Legal Form: |
Limited Liability Company, Limited by shares |
|||
|
Stock Listing: |
Not Listed |
|||
|
Workforce: |
2011 |
|
|
|
|
|
|
|
|
|
|
Office & Factories |
||||
|
Head offices |
4.5 KM BCCD Ex route de Rufisque, Dakar, Senegal |
|||
|
Branches |
None |
|||
|
Management/ Directors |
|
President/ CEO (1) |
|
|
Name |
M H Griffin |
|
Active in daily business: |
Active |
Top decision maker is the person who has the ultimate authority or power to make important managerial decisions. He/She may or may not be officially registered as a president or an executive director.
No negative information found
|
Company Profile: |
|||
|
Nominal Capital |
CFA. 50,000,000 |
||
|
Paid in Capital |
CFA. 50,000,000 |
||
|
Subscribed Capital |
CFA. 50,000,000 |
||
|
Shareholders
|
|||
|
Name |
Position |
Amount |
Ratio |
|
M H Griffin |
MD |
|
|
|
Total |
|
|
100.00% |
|
|
Terms of
payment |
|
Buying
terms |
None Stated |
|
Selling
terms |
80% in
cash, 20% on credit |
|
Suppliers |
None Stated |
|
Customers |
Public |
|
|
|
|
Recent
Sales |
CFA. 2,250,000,000
(2011 Estimated) |
|
Exports |
None |
|
Export
Ratio |
0.0% |
|
Import
Ratio |
10.0% |
|
Domestic
Market Share |
20.0% |
|
Affiliated
Companies |
|
|
Company (1) |
AL-BURJ TRADING SARL |
N/a
|
Exchange Rate |
US$ 1 = CFA. 522.88 |
|
Established: |
2001 |
||||
|
Registered: |
2010 |
||||
|
Registration: |
SNDK 2010 D 15324Dakar, Senegal |
||||
|
VAT number: |
004292637 |
||||
|
Tax number: |
CPTE N° SN060 0130 61201206000 23 |
||||
|
Legal Form: |
Limited Liability Company, Limited by shares |
||||
|
Stock Listing: |
Not Listed |
||||
|
Workforce: |
2011 |
|
|
|
|
|
|
|
|
|
|
|
|
Office & Factories |
|||||
|
Head offices |
4.5 KM BCCD Ex route de Rufisque, Dakar, Senegal |
||||
|
Branches |
None |
||||
|
Business Activities |
General Traders |
||||
|
Business Premises |
1000 Sft |
|
Type of occupation
|
Leased |
|
Location |
The subject is located close to a major road network |
|
Premises used as
|
Offices |
|
Banking
relationship |
|
|
Main
Banks |
Banque Atlantique Sénégal |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.52.21 |
|
UK Pound |
1 |
Rs.84.00 |
|
Euro |
1 |
Rs.67.75 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.