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Report Date : |
31.10.2012 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
BP 1210 |
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Country : |
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Date of Incorporation : |
12.07.1997 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
General Traders
dealing with import and distribution of general merchandise such as textiles,
electronics etc |
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No. of Employees : |
20 |
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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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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Togo |
C2 |
C2 |
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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 |
TOGO - ECONOMIC OVERVIEW
This small, sub-Saharan
economy suffers from anemic economic growth and depends heavily on both commercial
and subsistence agriculture, which provides employment for a significant share
of the labor force. Some basic foodstuffs must still be imported. Cocoa,
coffee, and cotton generate about 40% of export earnings with cotton being the
most important cash crop. Togo is among the world's largest producers of
phosphate and Togo seeks to develop its carbonate phosphate reserves. The
government's decade-long effort, supported by the World Bank and the IMF, to
implement economic reform measures, encourage foreign investment, and bring
revenues in line with expenditures has moved slowly. Progress depends on follow
through on privatization, increased openness in government financial
operations, progress toward legislative elections, and continued support from
foreign donors. Foreign direct investment inflows have slowed over recent
years. Togo completed its IMF Extended Credit Facility in 2011 and reached a
HIPC debt relief completion point in 2010 at which 95% of the country's debt
was forgiven. Togo continues to work with the IMF on structural reforms.
Source
: CIA
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COMPANY REPORTED: |
COMFLO IMPORT EXPORT BV |
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Principal Address: |
BP 1210 Lome, Rep. Togo,
West Africa |
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Telephone: |
+228-9039246 |
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Fax: |
+228-9250619/2218125 |
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Email: |
comfloimportexport@yahoo.com |
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Internet: |
None |
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Established: |
12/07/1997 |
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Registration: |
Rep. Togo, West Africa |
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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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20 |
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Office & Factories |
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Head offices |
289 Rue Rue De Grand
Marche, (Comflo Block), Lome, Rep. Togo, West Africa |
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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.
George Iro |
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Active in daily
business: |
Active |
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Current Title: |
Managing
Director |
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Country of residence |
Togo |
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Remarks |
Top Decision Maker |
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
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Ratio |
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Mr.
George Iro |
MD |
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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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Suppliers |
Various suppliers |
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Customers |
Locla agencies, outlets,
etc |
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Recent Sales |
CFA. 432,000,000 (2011 Estimated) |
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Exports |
None |
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Export Ratio |
0.0% |
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Import Ratio |
10.0% |
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Domestic Market Share |
20.0% |
Affiliated
Companies None
N/a
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Exchange Rate |
US$ 1 = CFA. 508.57 |
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Business Activities |
General
Traders dealing with import and distribution of general merchandise such as
textiles, electronics etc |
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Business Premises |
2000 Sft |
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Type of occupation
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Owned |
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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 |
ECOBANK |
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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. |
--
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.54.16 |
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1 |
Rs.86.83 |
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Euro |
1 |
Rs.69.85 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
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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.