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Report Date : |
11.02.2013 |
IDENTIFICATION DETAILS
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Name : |
BASSILI HOME |
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Registered Office : |
Quartier Loandjile, Pointe Noire |
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Country : |
Congo |
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Date of Incorporation : |
03.07.2008 |
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Com. Reg. No.: |
08B218/028620 |
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Legal Form : |
Société Anonyme à Responsabilité Limitée |
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Line of Business : |
Retailers and dealers in general merchandise |
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No. of Employees : |
15 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Congo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CONGO - ECONOMIC OVERVIEW
The economy of
the Democratic Republic of the Congo - a nation endowed with vast potential wealth
- is slowly recovering from decades of decline. Systemic corruption since
independence in 1960 and conflict that began in May 1997 has dramatically
reduced national output and government revenue, increased external debt, and
resulted in the deaths of more than 5 million people from violence, famine, and
disease. Foreign businesses curtailed operations due to uncertainty about the
outcome of the conflict, lack of infrastructure, and the difficult operating
environment. Conditions began to improve in late 2002 with the withdrawal of a
large portion of the invading foreign troops. The transitional government
reopened relations with international financial institutions and international
donors, and President KABILA began implementing reforms. Progress has been slow
and the International Monetary Fund curtailed its program for the DRC at the
end of March 2006 because of fiscal overruns. Much economic activity still
occurs in the informal sector and is not reflected in GDP data. Renewed
activity in the mining sector, the source of most export income, boosted
Kinshasa's fiscal position and GDP growth from 2006-08, however, the
government's review of mining contracts that began in 2006, combined with a
fall in world market prices for the DRC's key mineral exports temporarily
weakened output in 2009, leading to a balance of payments crisis. The recovery
in mineral prices beginning in mid 2009 boosted mineral exports, and emergency
funds from the IMF boosted foreign reserves. An uncertain legal framework,
corruption, and a lack of transparency in government policy are long-term
problems for the mining sector and for the economy as a whole. The global
recession cut economic growth in 2009 to less than half its 2008 level, but
growth returned to 6-7% in 2010-11. The DRC signed a Poverty Reduction and
Growth Facility with the IMF in 2009 and received $12 billion in multilateral
and bilateral debt relief in 2010.
Source
: CIA
Registered Name: BASSILI HOME
Requested Name: BASSILI
HOME
Other Names: BASSILI
HOME S.A.R.L.
Trade Names: BASSILI HOME SARLU
Physical Address: Quartier Loandjile, Pointe Noire
Postal Address: BP
934-Quartier Loandjile
Pointe Noire
Country: Congo
Phone: 242-055304567
Fax: 242-055304567
Email: contact@bassili-home.com
Website: www.bassili-home.com
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 Form: Société Anonyme à Responsabilité Limitée
Date Incorporated: 3-July-2008
Reg. Number: 08B218/028620
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr. Caril Ngampo Sibali MD/CEO 100%
Mr. Ibrahima
Ndiaye Manager
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as retailers and dealers in general merchandise
Imports: Asia,
Middle East, China
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Individuals,
firms and organizations
Employees: 15
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Congo
Location: Rented
premises, 2.500 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 484.57 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 495,000,000
Bank Name: CRBD
Comments: None
Experiences: Good
None
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.53.57 |
|
|
1 |
Rs.71.79 |
|
Euro |
1 |
Rs.84.25 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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%)
This report is issued at your request without any risk
and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its
officials.