MIRA INFORM REPORT

 

 

Report Date :

16.02.2013

 

IDENTIFICATION DETAILS

 

Name :

SIMATRAC SA

 

 

Registered Office :

BP 1093 Ndjamena

 

 

Country :

Chad

 

 

Date of Incorporation :

26.04.2010

 

 

Legal Form :

Societe Anonyme

 

 

Line of Business :

Asembly and supply of agricultural equipments and related facilites

 

 

No. of Employees :

30

 

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2011)

Current Rating

(30.06.2012)

Chad

C2

C2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CHAD - ECONOMIC OVERVIEW

 

Chad's primarily agricultural economy will continue to be boosted by major foreign direct investment projects in the oil sector that began in 2000. At least 80% of Chad's population relies on subsistence farming and livestock raising for its livelihood. Chad's economy has long been handicapped by its landlocked position, high energy costs, and a history of instability. Chad relies on foreign assistance and foreign capital for most public and private sector investment projects. Remittances are also an important source of income. The Libyan conflict disrupted inflows of remittances to Chad's impoverished western region that relies on income from Chadians living in Libya. A consortium led by two US companies has been investing $3.7 billion to develop oil reserves - estimated at 1.5 billion barrels - in southern Chad. Chinese companies are also expanding exploration efforts and have completed a 311-km pipeline and the country's first refinery. The nation's total oil reserves are estimated at 1.5 billion barrels. Oil production came on stream in late 2003. Chad began to export oil in 2004. Cotton, cattle, and gum arabic provide the bulk of Chad's non-oil export earnings.

Source : CIA

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

SIMATRAC SA

Trade Names:

SOCIÉTÉ INDUSTRIELLE DE MATÉRIELS AGRICOLES ET D’ASSEMBLAGE DES TRACTEURS SA

Principal Address:

BP 1093 Ndjamena,Tchad

Telephone:

+235-22527006/22527399/22527026

Fax:

+235-22527399

Email:

None

Internet:

None

Established:

26/04/2010

Registration:

Chad

Legal Form:

Societe Anonyme

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

30

 

 

 

Office & Factories

 

Head offices

Zone Industrielle de Farcha, Ndjamena,Tchad

Branches

None

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

 

President/ CEO (1)

 

Name

Mr. Yamtebaye Nadjitangar

Active in daily business:

Active

Current Title:

Managing Director

Country of residence

Tchad

Remarks

Top Decision Maker

 

Director (2)

 

Name

Mr. Alladoum Fidel

Active in daily business:

Active

Current Title:

Director

Country of residence

Tchad

Þ  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

 

Nominal Capital

CFA. 1,000,000

Paid in Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Shareholders

 

Name

Position

   Amount  

       Ratio

Mr. Yamtebaye Nadjitangar

MD

 

 

Mr. Alladoum Fidel

Director

 

 

Total

 

 

100.00%

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

30% in cash, 70% on 30 day credit

Selling terms

80% in cash, 20% on credit

 

 

Suppliers

Various companies

Customers

Firms and organizations

 

 

Recent Sales

CFA. 800,000,000  (2012 Estimated)

Exports

None

Export Ratio

0.0%

Import Ratio

40.0%

Domestic Market Share

20.0%

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Affiliated Companies

None

 

FINANCIAL INFORMATION

 

Exchange Rate

 
US$ 1 = CFA. 488.14

 

FOREIGN EXCHANGE RATES

 

N/a

ADDITIONAL INFORMATION

 

Business Activities

Asembly and supply of agricultural equipments and related facilites

 

Business Premises

5000 Sft

Type of occupation                                              

Leased

Location 

The subject is located close to a major road network                       

Premises used as                                               

Offices

 

Banking relationship

 

Main Banks

 

 

NOTES & COMMENTS

 

--

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.99

UK Pound

1

Rs.83.72

Euro

1

Rs.72.08

 

 

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%)

 

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.