MIRA INFORM REPORT

 

 

Report Date :

19.01.2013

 

 

 

Tel No.:

00236616554

Fax No.:

23621614241

 

IDENTIFICATION DETAILS

 

Name :

MAGASIN RIAD

 

 

Registered Office :

P.o. Box 1904

 

 

Country :

Central African Republic

 

 

Date of Incorporation :

01.04.2001

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Importers and distribution of Cars, Accessories, Spare Parts etc

 

 

No. of Employees :

45

 

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)

Central African Republic

D

D

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CENTRAL AFRICAN REPUBLIC - ECONOMIC OVERVIEW

 

Subsistence agriculture, together with forestry, remains the backbone of the economy of the Central African Republic (CAR), with about 60% of the population living in outlying areas. The agricultural sector generates more than half of GDP. Timber has accounted for about 16% of export earnings and the diamond industry, for 40%. Important constraints to economic development include the CAR's landlocked position, a poor transportation system, a largely unskilled work force, and a legacy of misdirected macroeconomic policies. Factional fighting between the government and its opponents remains a drag on economic revitalization. Since 2009 the IMF has worked closely with the government to institute reforms that have resulted in some improvement in budget transparency, but other problems remain. The government's additional spending in the run-up to the election in 2011 worsened CAR's fiscal situation. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs. CAR currently lacks an IMF program.

 

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

COMPANY REPORTED:

MAGASIN RIAD

Principal Address:

P.o. Box 1904 Central African Republic

Telephone:

+236-21616554/21616006

Fax:

+236-21614241

Email:

None

Internet:

None

Established:

01/04//2001

Registration:

Bangui, Central African Republic

Legal Form:

Limited Liability Company, Limited by shares

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

45

 

 

 

Office & Factories

Head offices

Avenue B Boganda-1ER ARR BAngui RCA, Central African Republic

Branches

None

 

 

DIRECTORS/MANAGEMENT

 

Management/ Directors

 

President/ CEO (1)

 

Name

Mr. Youssef Chour

Active in daily business:

Active

Current Title:

Managing Director

Country of residence

Central African Republic

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

 

Share Capital

Nominal Capital

CFA. 80,000,000

Paid in Capital

CFA. 80,000,000

Subscribed Capital

CFA. 80,000,000

Shareholders

Name

Position

   Amount  

       Ratio

Mr. Youssef Chour

MD

 

 

Ms. Carole Theoneste

Manager

 

 

Total

 

 

100.00%

 

 

PAYMENT INFORMATION

 

 

Terms of payment

Buying terms 

30% in cash, 70% on 60 day credit

Selling terms

80% in cash, 20% on credit

Suppliers

Various Companies

Customers

firms and organizations

 

 

Recent Sales

CFA. 650,000,000  (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

 

N/a

 

 

FOREIGN EXCHANGE RATES

 

Exchange Rate

US$ 1 = CFA. 490.69

 

 

ADDITIONAL INFORMATION

 

Established:

01/04//2001

Registration:

Bangui, Central African Republic

Legal Form:

Limited Liability Company, Limited by shares

Stock Listing:

Not Listed

Workforce:

2012

 

 

 

 

45

 

 

 

Office & Factories

Head offices

Avenue B Boganda-1ER ARR BAngui RCA, Central African Republic

Branches

None

 

Business Activities

Importers and distribution of Cars, Accessories, Spare Parts etc

 

Business Premises

2000 Sft

Type of occupation                                               

Leased

Location 

The subject is located close to a major road network                      

Premises used as                                               

Offices

 

Banking relationship

Main Banks

BOA Bank

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.94

UK Pound

1

Rs.86.24

Euro

1

Rs.72.20

 

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%)

 

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.