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Report Date : |
05.04.2013 |
IDENTIFICATION DETAILS
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Name : |
ORCA SENEGAL |
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Registered Office : |
73, Blaise Daigne Dakar, Senegal |
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Country : |
Senegal |
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Date of Incorporation : |
16.09.2005 |
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Legal Form : |
Societe Anonyme Responsibilitee Limitee |
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Line of Business : |
Importers and distribution of home
décor products |
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No. of Employees : |
50 |
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 : |
Unknown |
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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) |
|
Senegal |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 and
foreign direct investment. 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. After seeing its economy
contract by 2.1% in 1993, Senegal made an important turnaround, thanks to an
economic reform program backed by the donor community, which led to real growth
in GDP averaging over 5% annually during 1995-2007. Annual inflation was pushed
down to the single digits. The global economic downturn reduced growth to 2.2%
in 2009. The IMF completed a non-dispursing, Policy Support Initiative program
in 2010 and approved a new three-year policy support instrument in December 2010
to assist with economic reforms. Senegal also receives disbursements from a
$540 million Millennium Challenge Account for infrastructure and agriculture
development. In 2012, the economy began to rebound after a weak 2011. The
economy continues to suffer from unreliable power supply, which has led to
public protests and high unemployment and has prompted migrants to flee Senegal
in search of better job opportunities in Europe
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Source
: CIA |
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COMPANY
REPORTED: |
ORCA SENEGAL |
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Trade Names: |
ORCA SARL |
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Principal
Address: |
73, Blaise
Daigne Dakar, Senegal |
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Telephone: |
+221-33-8214964/8423179/8898485 |
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Fax: |
+221-33-8423181/8428716 |
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Email: |
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Internet: |
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Established: |
16/9/2005 |
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Registration: |
2005M3246Dakar,
Senegal |
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Legal Form: |
Societe
Anonyme Responsibilitee Limitee |
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Stock Listing: |
Not Listed |
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Workforce: |
2012 |
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50 |
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Office &
Factories |
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Head offices |
73, Blaise
Daigne Dakar, Senegal |
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Branches |
39, Avenue
Petersen x rue de l'Yser, Senegal |
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Management/ Directors |
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President/ CEO (1) |
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Name |
Mr. M. Jalal
Kawar |
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Current Title: |
Chief Executive Officer |
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Remarks |
Top Decision
Maker |
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Director (2) |
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Name |
Mr. Walid
Hakim |
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Current Title: |
Director |
No negative information found.
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Company
Profile: |
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Nominal
Capital |
CFA. 10,000,000 |
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Paid in
Capital |
CFA. 10,000,000 |
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Subscribed
Capital |
CFA. 10,000,000 |
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Shareholders |
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||
|
Name |
Position |
Amount
|
Ratio |
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Mr. M. Jalal
Kawar |
CEO |
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Mr. Walid
Hakim |
Director |
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Ms. Mariana
Buhring |
Manager |
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ORCA INTERNATIONAL |
Holding Co. |
|
100.00% |
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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 |
Various
suppliers |
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Customers |
Local
agencies, stores, outlets etc |
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|
|
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Recent Sales |
CFA. 680,000,000 (2012
Estimated) |
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Exports |
Neighboring
countries |
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Export Ratio |
10.0% |
|
Import Ratio |
40.0% |
|
Domestic Market Share |
20.0% |
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Affiliated
Companies |
In Benin,
Burkina Faso, Gambia, Mali, Cameroun, Ghana, Cote D’Ivoire, Mauritanie |
N/a
|
Exchange Rate |
US$ 1 = CFA.
511.35 |
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Business
Activities |
Importers and distribution of home décor products |
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Business
Premises |
2000 Sft |
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Type of
occupation
|
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 |
ECOBANK |
|
Credit Check
of Subject, President & CEO (as of report date) |
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Payment
Morale: |
300: In the
documents at our disposal nothing adverse has been shown so far. |
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CREDIT RATING:
|
300: Financial
situation is average. |
N/a
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.64 |
|
|
1 |
Rs.82.41 |
|
Euro |
1 |
Rs.70.07 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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 |
|
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.