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Report Date : |
09.07.2013 |
IDENTIFICATION DETAILS
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Name : |
SIPAL |
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Registered Office : |
571 Pau Akwa Á Douala |
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Country : |
Cameroon |
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Year of Incorporation : |
1998 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as a supermarket dealing with variety of products such as FMCG, hardware, electricals etc |
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No. of Employees : |
40 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
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Payment Behaviour : |
No Complaints |
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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) |
|
Cameroon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CAMEROON - ECONOMIC OVERVIEW
Because of its modest oil resources and favorable
agricultural conditions, Cameroon has one of the best-endowed primary commodity
economies in sub-Saharan Africa. Still, it faces many of the serious problems
confronting other underdeveloped countries, such as stagnant per capita income,
a relatively inequitable distribution of income, a top-heavy civil service,
endemic corruption, and a generally unfavorable climate for business
enterprise. Since 1990, the government has embarked on various IMF and World
Bank programs designed to spur business investment, increase efficiency in
agriculture, improve trade, and recapitalize the nation's banks. The IMF is
pressing for more reforms, including increased budget transparency, privatization,
and poverty reduction programs. Subsidies for electricity, food, and fuel have
strained the budget. Cameroon recently began several large infrastructure
projects, including a deep sea port in Kribi, a natural gas powered electricity
generating plant, and several hydroelectric dams. Cameroon must attract more
investment to improve its inadequate infrastructure, but its business
environment is a deterrent to foreign investment.
Source
: CIA
Registered Name: SIPAL
Requested Name: SIPAL
Other Names: SUPERMARCHÉ
SIPAL
Physical Address: 571 Pau Akwa Á Douala,
Postal Address: BP 863 Douala
Country: Cameroon
Phone: 237-33-421648
Fax: 237-33-421648
Email: None
Website: None
Financial Index as of December 2012 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 1998
Reg. Number: Cameroon
Nominal Capital CFA. 10,000,000
Subscribed Capital CFA. 10,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Zervos Nicolas MD
Eric S. Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as a supermarket dealing with variety of products
such as FMCG, hardware, electricals etc
Imports: Worldwide
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 25-90 days (20%), invoices.
Main Customers: General
Public
Employees: 40
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Cameroon
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Central African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 528 Central 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 1,320,000,000
Bank Name: Commercial Bank of Cameroon
(CBC)
Branch: Cameroon
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.61.04 |
|
|
1 |
Rs.90.89 |
|
Euro |
1 |
Rs.78.27 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.