MIRA INFORM REPORT

 

 

Report Date :

16.08.2013

 

IDENTIFICATION DETAILS

 

Name :

ALPHA AND ENGINEERING ANIMAL FEEDS GLOBAL EXPORT TRADING

 

 

Registered Office :

Rue 22 Marche Central, Douala Littoral BP 2458 Douala   

 

 

Country :

Cameroon

 

 

Date of Incorporation :

09.06.2007

 

 

Com. Reg. No.:

Cameroon

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Exporters of rattan raw materials, rattan poles rattan core rattan furniture and all types of raw rattans.

 

 

No. of Employees :

20

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – March 31st, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Cameroon

B2

B2

 

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. Cameroon recently began several large infrastructure projects, including a deep sea port in Kribi, a natural gas powered electricity generating plant, and several hydroelectric dams. Cameroon must attract more investment to improve its inadequate infrastructure, but its business environment is a deterrent to foreign investment.

Source : CIA

SUBJECT’S NAME

                                                           

Registered Name:                                  ALPHA AND ENGINEERING ANIMAL FEEDS GLOBAL EXPORT TRADING

Requested Name:                                  ALPHA AND ENGINEERING ANIMAL FEEDS GLOBAL EXPORT TRADING

Other Names:                                        None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                  Rue 22 Marche Central, Douala Littoral

Postal Address:                                     BP 2458

                                                            Douala,

Country:                                                Cameroon

Phone:                                                  237-95771103/92186983

Fax:                                                      237-22311184

Email:                                                   None

Website:                                               None

 

 

CREDIT OPINION

 

Financial Index as of December 2012 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments.

 

 

LEGAL

 

Legal Form:                                                    Limited Corporation 

Date Incorporated:                                           09-June-2007

Reg. Number:                                                 Cameroon

Nominal Capital                                               CFA. 1,000,000

Subscribed Capital                                          CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

                                                                     Position                          Shares

Mr. Mahmood Hassan                                     Director                           

Mr. Abdul Hassan                                           Director                           

 

 

RELATED COMPANIES

           

None                                                              Parent company.

None                                                              Subsidiary company.

None                                                              Affiliated company.

None                                                              Shareholder of subject firm.

None                                                              Branches of the firm

 

 

OPERATIONS

 

Registered to operate as exporters of rattan raw materials, rattan poles rattan core rattan funitures and all types of raw rattans

Imports:                                                          Asia

Exports:                                                         Neighboring countries

Trademarks:                                                   None

Terms of sale:                                                 Cash (30%) and 25-90 days (70%), invoices.

                                                                    

Main Customers:                                             firms and organizations  

Employees:                                                    20 employees.

Vehicles:                                                        Several motor vehicles.

Territory of sales:                                            Cameroon

Location:                                                        Rented premises, 2,500 square feet,

 

AUDITORS AND INSURANCE   

 

Auditors:                                                        Information not available.

Insurance Brokers:                                          Information not available.

                                                                    

 

FINANCE 

 

Currency Reported:                                         West African Franc (CFA.)

Approx. Ex. Rate:                                           1 US Dollar = 493.57 West African Franc

Fiscal Year End:                                             December 31, 2012

Inflation:                                                         According to information given by independent sources, the inflation at December 31st, 2012 was of 13%.

 

Financial Information not Submitted                 

                                                                    

                                                                    

Profit and Loss (expressed in CFA.)

                                                                                      2012

Sales                                                                              235,000,000

 

 

BANK 

 

Bank Name:                                                   UNION BANK OF CAMEROON PLC

Branch:                                                          Cameroon

                                                                     A/C NO. 10023 00040 00412001095 53,  SWIFT-UCMACMCX

Comments:                                                     None

 

                                                                    

TRADE REFERENCES    

 

Experiences:                                                  Good

                                                                    

 

NOTARIAL BONDS

           

None

 

 

COMMENTS / ADDITIONAL INFORMATION    

 

This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

                                                                    


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs. 61.52

UK Pound

1

Rs. 94.99

Euro

1

Rs. 81.63

 

 

INFORMATION DETAILS

 

Report Prepared by :

NIS

 

 

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.