MIRA INFORM REPORT

 

 

Report Date :

25.10.2012

 

IDENTIFICATION DETAILS

 

Name :

SOCIETE DE QUIFEUROU DU CAMEROUN SARL

 

 

Formerly Known As :

GROUPE QUIFEUROU CAMEROUN

 

 

Registered Office :

P.o. Box 6787 Douala

 

 

 

 

Country :

Cameroon

 

 

 

 

Date of Incorporation :

05.08.1990

 

 

 

 

Com. Reg. No.:

R C P178 Douala

 

 

 

 

Legal Form :

Societe Anonyme Responsabilite Limitee.

 

 

 

 

Line of Business :

General Traders dealing with hardware, costruction materials etc

 

 

 

 

No. of Employees :

100

 

 

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 :

Slow but correct

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

(31.03.2011)

Current Rating

(30.06.2012)

Cameroon

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

SOCIETE DE QUIFEUROU DU CAMEROUN SARL

Other Names:

SOQUICAM

Other Names:

GROUPE QUIFEUROU CAMEROUN

Principal Address:

P.o. Box 6787 Douala, Cameroun

Telephone:

+237-3444994/3430429/402774/434406/0429

Fax:

+237-2303530/3437465/ 3425052/ 425052

Email:

soquicam@sympatico.ca/ tagne67@yahoo.fr/ soquicam@camnet.cm

Internet:

None

Established:

5/8/1990

Registration:

R C P178 Douala

Legal Form:

Societe Anonyme Responsabilite Limitee.

Stock Listing:

Not Listed

Workforce:

2011

 

 

 

 

100

 

 

 

Office & Factories

 

Head offices

Avenue Ahmadou Ahidho, Douala, Cameroun

Branches

Quartier Baleng, Bafoussam, Cameroun

Yaounde, Cameroun

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

 

President/ CEO (1)

 

Name

Mr. M. Quifeurou

Active in daily business:

Active

Current Title:

Managing Director

Country of residence

Cameroon

Remarks

Top Decision Maker

 

Director (2)

 

Name

Mr. Emmanuel Peughouia

Active in daily business:

Active

Current Title:

Director

Country of residence

Cameroon

̃  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.

 

NEGATIVE INFORMATION

 

No negative information found.

SHARE & SHARE CAPITAL INFORMATION

 

Nominal Capital

CFA. 1,000,000

Paid in Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Shareholders

 

Name

Position

   Amount  

       Ratio

Mr. M. Quifeurou

MD

 

 

Mr. Emmanuel Peughouia

Director

 

 

Mr. Sokamte Maurice

Director

 

50.00%

Mr. M. A. Maurice

Director

 

50.00%

Mr. Leo Nganou

Accounts

 

 

Total

 

 

100.00%

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

70% in cash, 30% on LC, TT

Selling terms

50% in cash, 50% on credit

 

 

Suppliers

Various companies

Customers

Construction firms and outlets

 

 

Recent Sales

CFA. 2,250,000,000  (2011 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

60.0%

Domestic Market Share

15.0%

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

FINANCIAL INFORMATION

 

N/a

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = CFA. 503.23

ADDITIONAL INFORMATION

 

Business Activities

General Traders dealing with hardware, costruction materials etc

 

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

Yaounde Amity Bank

 

Commercial Bank of Cameroon (CBC)

 

Credit Check of Subject, President & CEO (as of report date)

Payment Morale:

In the documents at our disposal nothing adverse has been shown so far.

CREDIT RATING:

Financial situation is average.

 

NOTES & COMMENTS

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.59

UK Pound

1

Rs.85.81

Euro

1

Rs.69.91

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.