|
Report Date : |
17.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
SOCIETE REGAL |
|
|
|
|
Registered Office : |
Avenue
Moe Vangoula Eveche Centre Ville, Pointe Noire BP 603 Pointe Noire |
|
|
|
|
Country : |
Congo |
|
|
|
|
Date of Incorporation : |
16.02.1998 |
|
|
|
|
Com. Reg. No.: |
02B207I |
|
|
|
|
Legal Form : |
Societe Anonyme
Responsabilite Limitee. |
|
|
|
|
Line of Business : |
Subject operate as
importers, exporters and distribution of
Fast moving consumer goods, food products, beverages, electronics, home
appliances, sundries, bicycles, travel accessories etc |
|
|
|
|
No. of Employees : |
50 employees. |
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 (31.03.2012) |
Current Rating (30.06.2012) |
|
Congo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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: |
SOCIETE REGAL |
|
Requested Name: |
SOCIETE REGAL BP 603 AVENUE |
|
Other Names: |
None |
|
Physical Address: |
Avenue
Moe Vangoula Eveche Centre Ville, Pointe Noire |
|
Postal Address: |
BP
603 |
|
|
Pointe
Noire |
|
Country: |
Congo |
|
Phone: |
242-222944500/2940540/811646 |
|
Cell: |
242-5505810/6693089/5533043/5536662 |
|
Fax: |
242-222940810/815782 |
|
Email: |
regal@regal-congo.com/ regal@mtcybernet.com/ regalcgo2@yahoo.fr |
|
Website: |
www.regal-congo.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: |
Societe Anonyme
Responsabilite Limitee. |
|
|
Date Incorporated: |
16/2/1998 |
|
|
Reg. Number: |
02B207ICongo |
|
|
Nominal Capital |
CFA.
20,000,000 |
|
|
Subscribed Capital |
CFA.
20,000,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. P.S. Daswani |
Chairman/CEO |
20% |
|
Mr. Ramesh Dhanjani |
MD |
20% |
|
Mr. Navin Panjabi |
Director |
20% |
|
Mr. Sunil Suchdev |
Director |
20% |
|
Mr. Hitesh Gyanani |
Director |
20% |
|
Mr. Naresh Punjabi |
Accounts |
|
|
Mr. Tulsi
Bhojwani |
Manager |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
Avenue Amilcar Cabral, En Face Tresor Public, Brazzaville (Republique
Du Congo) |
Branches of the firm |
|
Registered to operate as
importers, exporters and distribution of
Fast moving consumer goods, food products, beverages, electronics, home
appliances, sundries, bicycles, travel accessories etc |
|
|
Imports: |
Asia, Middle East |
|
Exports: |
Neighboring countries |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
50 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Congo |
|
Location: |
Rented premises, 2,000 square feet, |
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
West African Franc (CFA.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 491.69 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 |
|
890,500,000 |
|
Bank Name: |
BIC Bank Sarl |
|
Branch: |
Congo |
|
Comments: |
None |
|
Experiences: |
Good |
|
|
|
|
NOTARIAL BONDS |
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.54.82 |
|
|
1 |
Rs.87.9 |
|
Euro |
1 |
Rs.72.83 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.