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Report Date : |
29.10.2012 |
IDENTIFICATION DETAILS
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Name : |
H AND D INDUSTRIE SARL |
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Registered Office : |
KM 9,5 BCCD, Dakar |
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Country : |
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Date of Incorporation : |
01.09.2003 |
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Com. Reg. No.: |
2003B7402 Dakar, Senegal |
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Legal Form : |
Societe Anonyme Responsabilite Limitee. |
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Line of Business : |
Manufacture and distribution of Soap, bleach detergent,
powder Soap, liquids and other related laundry detergents |
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No. of Employees : |
80 employees |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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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) |
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Senegal |
B2 |
B2 |
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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 |
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.
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Source : CIA |
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COMPANY REPORTED: |
H AND D INDUSTRIE SARL |
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Principal Address: |
KM 22 Bld Du Centenaire Rue De Rufisque Dakar, Senegal |
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Telephone: |
+221-33-8700190 |
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Fax: |
+221-33-8700181 |
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Email: |
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Internet: |
None |
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Established: |
01/09/2003 |
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Registration: |
2003B7402 Dakar, Senegal |
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VAT number: |
4214348 |
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Legal Form: |
Societe Anonyme Responsabilite Limitee. |
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Stock Listing: |
Not Listed |
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Workforce: |
2011 |
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80 |
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Office & Factories |
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Head offices |
KM 22 Bld Du Centenaire Rue De Rufisque Dakar, Senegal |
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Registered offices |
KM 9,5 BCCD, Dakar, Senegal |
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Branches |
None |
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mr. Mustapha Hashem |
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Active in daily business: |
Active |
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Current Title: |
Managing Director |
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Country of residence |
Senegal |
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Remarks |
Top Decision Maker |
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Director
(2) |
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Name |
Mr. I. Mamadou |
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Active in daily business: |
Active |
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Current Title: |
Director |
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Country of residence |
Senegal |
̃ 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.
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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. |
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. Mustapha Hashem |
MD |
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Mr. I. Mamadou |
Director |
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Mr. Sagna Ansoumana |
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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Affiliated Companies |
None |
Na
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Exchange Rate |
US$ 1 = CFA. 506.85 |
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Business Activities |
Manufacture and distribution
of Soap, bleach detergent, powder Soap, liquids and other related laundry
detergents. |
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Suppliers |
Various
Companies |
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Customers |
firms and organizations |
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Recent
Sales |
CFA. 2,035,000,000 (2011 Estimated) |
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Exports |
None |
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Export
Ratio |
0.0% |
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Import
Ratio |
20.0% |
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Domestic
Market Share |
10.0% |
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Business Premises |
5000 Sft |
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Type of occupation
|
Owned |
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Location |
The subject is located close to a major road network |
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Premises used as
|
Offices |
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Banking
relationship |
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Main
Banks |
BOA Bank |
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.63 |
|
UK Pound |
1 |
Rs.86.18 |
|
Euro |
1 |
Rs.69.75 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>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 |
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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 |
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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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<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.