MIRA INFORM REPORT

 

 

Report Date :

15.04.2013

 

IDENTIFICATION DETAILS

 

Name :

CEMM LTD.

 

 

Registered Office :

87 Kairaba Ave Fajara KMC

 

 

Country :

Gambia

 

 

Date of Incorporation :

01.10.2011

 

 

Legal Form :

Limited Liability Company, Limited by shares

 

 

Line of Business :

Consultancy firm

 

 

No. of Employees :

15

 

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 :

Unknown

 

 

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)

Gambia

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GAMBIA - ECONOMIC OVERVIEW

 

The Gambia has sparse natural resource deposits and a limited agricultural base, and relies in part on remittances from workers overseas and tourist receipts. About three-quarters of the population depends on the agricultural sector for its livelihood and the sector provides for about one-quarter of GDP. The agricultural sector has untapped potential - less than half of arable land is cultivated. Small-scale manufacturing activity features the processing of peanuts, fish, and hides. The Gambia's natural beauty and proximity to Europe has made it one of the larger markets for tourism in West Africa, boosted by government and private sector investments in eco-tourism and upscale facilities. In 2012, however, sluggish tourism led to a decline in GDP. Tourism brings in about one-fifth of GDP. Agriculture also took a hit in 2012 due to unfavorable weather patterns. The Gambia's re-export trade accounts for almost 80% of goods exports. Unemployment and underemployment rates remain high. Economic progress depends on sustained bilateral and multilateral aid, on responsible government economic management, and on continued technical assistance from multilateral and bilateral donors. International donors and lenders continue to be concerned about the quality of fiscal management and The Gambia's debt burden.

 

Source CIA


REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

CEMM LTD.

Principal Address:

87 Kairaba Ave Fajara KMC, Gambia

Telephone:

+220-7106504/+372-57916556

Fax:

+220-7106504

Email:

efstal.int@gmail.com

Internet:

None

Skype:

sasseena80

Established:

01/10/2011

Registration:

Gambia

Legal Form:

Limited Liability Company, Limited by shares

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

15

 

 

 

Office & Factories

 

Head offices

87 Kairaba Ave Fajara KMC, Gambia

Branches

None

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

 

President/ CEO (1)

 

Name

Mr. Alan B.

Active in daily business:

Active

Current Title:

Managing Director

Country of residence

Gambia

Remarks

Top Decision Maker

 

̃  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

 

Company Profile:

 

Nominal Capital

GMD. 100,000

Paid in Capital

GMD. 100,000

Subscribed Capital

GMD. 100,000

 

Shareholders

 

Name

Position

   Amount  

       Ratio

Mr. Alan B.

MD

 

 

 

 

 

 

Total

 

 

100.00%

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

Declined

Selling terms

80% in cash, 20% on credit

 

 

Suppliers

None Stated

Customers

Firms and organizations

 

 

Recent Sales

GMD. 50,000,000  (2012 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

10.0%

Domestic Market Share

5.0%

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = GMD. 33.02

 

ADDITIONAL INFORMATION

 

Business Activities

Consultancy firm

Business Premises

1000 Sft

Type of occupation                                               

Rented

Location 

The subject is located close to a major road network                      

Premises used as                                               

Offices

Banking relationship

 

Main Banks

Bank PHB

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.44

UK Pound

1

Rs.83.78

Euro

1

Rs.71.33

 

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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