MIRA INFORM REPORT

 

 

Report Date :            

08.07.2013

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

No trace

 

 

Payment Behaviour :

---

 

 

Litigation :

---

 

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)

Mali

c1

c2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MALI ECONOMIC OVERVIEW

 

Among the 25 poorest countries in the world, Mali is a landlocked country highly dependent on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest. Mali remains dependent on foreign aid. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government in 2011 completed an IMF extended credit facility program that has helped the economy grow, diversify, and attract foreign investment. Mali is developing its cotton and iron ore extraction industries to diversify foreign exchange revenue away from gold. Mali has invested in tourism but security issues are hurting the industry. Mali experienced economic growth of about 5% per year between 1996-2010, but the global recession and a military coup caused a decline in output in 2012. The interim government slashed public spending in the context of a declining state of security and declining international aid.

 

Source : CIA

 

 

 

 

SUBJECT'S NAME   

 

Registered Name:                                   HOLIDAY INTERNATIONAL CHEMICALS

Requested Name:                                   HOLIDAY INTERNATIONAL CHEMICALS

Other Names:                                          None

 

 

ADDRESS AND TELECOMMUNICATION

 

Postal Address:                                      BP E 657

                                                              Bamako

Country:                                                 Mali

 

 

CREDIT OPINION

 

A Search was conducted with the registry of companies, and Chamber of commerce with the could not assist in tracing the company, in the view that we have exhaustively traced the company with no success. We recommend secured credit only.

 

However should Further Information be available, E.g. telephone, Fax, Email additional Investigations will be conducted.

 

 

Important Note:

Kindly provide us with additional information such as Correct Name, Address, Contact Details, Name of Contact Person or a copy of the Upper Part of Letterhead within 15 days of receiving this report, a would be sent without any additional cost.

 

 

INFORMATION DETAILS

 

Report Prepared by :

MNL

 

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.