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Report Date : |
08.07.2013 |
IDENTIFICATION DETAILS
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Name : |
STARCS SARL |
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Registered Office : |
Douala, Littoral |
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Country : |
Cameroon |
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Date of Incorporation : |
16.08.2002 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as commercial trader |
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No. of Employees : |
10 |
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 |
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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: STARCS SARL
Requested Name: STARCS
SARL
Other Names: None
Physical Address: Douala, Littoral, Cameroon
Postal Address: BP 6191
Douala
Country: Cameroon
Phone: 237
3420416
Cell: 237 9825180
Fax: 237
3426164
Email: None
Website: None
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. We recommend secured (Letters of Credit)
Legal Form: Limited Corporation
Date Incorporated: 16/8/2002
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
Martin Ngangue Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as commercial trader
Imports: None
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Cameroon
Location: Rented
premises, 1,500 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 279,000,000
Bank Name: BOA
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.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.