|
Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
|
Name : |
H M DISTRIBUTION |
|
|
|
|
Registered Office : |
Zone
Industrielle Oloumi, Libreville |
|
|
|
|
Country : |
Gabon |
|
|
|
|
Date of Incorporation : |
16.02.2002 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
importers and distributors of general merchandise such as food products and beverages, ceramics, household appliances. |
|
|
|
|
No. of Employees : |
80 |
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) |
|
Gabon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
gabon ECONOMIC OVERVIEW
Gabon enjoys a
per capita income four times that of most sub-Saharan African nations, but
because of high income inequality, a large proportion of the population remains
poor. Gabon depended on timber and manganese until oil was discovered offshore
in the early 1970s. The economy was reliant on oil for about 50% of its GDP,
about 70% of revenues, and 87% of goods exports for 2010, although some fields
have passed their peak production. A rebound of oil prices from 1999 to 2008
helped growth, but declining production has hampered Gabon from fully realizing
potential gains. Gabon signed a 14-month Stand-By Arrangement with the IMF in
May 2007, and later that year issued a $1 billion sovereign bond to buy back a
sizable portion of its Paris Club debt. Gabon continues to face fluctuating
prices for its oil, timber, and manganese exports. Despite the abundance of
natural wealth, poor fiscal management has stifled the economy. However,
President BONGO ONDIMBA has made efforts to increase transparency and is taking
steps to make Gabon a more attractive investment destination to diversify the
economy. BONGO ONDIMBA has attempted to boost growth by increasing government
investment in human resources and infrastructure. GDP grew more than 6% per
year over the 2010-12 period.
|
Source : CIA |
Registered Name: H M DISTRIBUTION
Requested Name: H
M DISTRIBUTION
Other Names: None
Physical Address: Zone Industrielle Oloumi,
Libreville
Postal Address: B.P.26,
Libreville,
Country: Gabon
Phone: 241-778341/2/3
Fax: 241-778344
Email: hm@internetgabon.com
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 16-Feb-2002
Reg. Number: Ghana
Nominal Capital CFA. 5,000,000
Subscribed Capital CFA. 5,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Rahif Hachem MD
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as importers and distributors of general merchandise such as food products and beverages, ceramics, household appliances.
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, outlets etc
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Gabon
Location: Leased
premises, 5,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 506.18 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 655,000,000
Bank Name: ECOBANK
Branch: Gabon
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.60.34 |
|
UK Pound |
1 |
Rs.90.79 |
|
Euro |
1 |
Rs.77.81 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.