MIRA INFORM REPORT

 

 

Report Date :

08.03.2013

 

IDENTIFICATION DETAILS

 

Name :

GENERALE DE DISTRIBUTION IMPORTATION REPRESENTATION

 

 

Registered Office :

G‑35 Rue Commerçant, Nouakchott

 

 

Country :

Mauritania

 

 

Date of Incorporation :

Not Available

 

 

Legal Form :

Societe A Responsibilite Limitee

 

 

Line of Business :

Non‑specialised wholesale of food, beverages and tobacco

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate – Inadequate Information

 

 

Payment Behaviour :

Unknown

 

 

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)

Mauritania

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MauritAnia - ECONOMIC OVERVIEW

 

Half the population still depends on agriculture and livestock for a livelihood, even though many of the nomads and subsistence farmers were forced into the cities by recurrent droughts in the 1970s and 1980s. Mauritania has extensive deposits of iron ore, which account for nearly 40% of total exports. The nation's coastal waters are among the richest fishing areas in the world but overexploitation by foreigners threatens this key source of revenue. The country''s first deepwater port opened near Nouakchott in 1986. Before 2000, drought and economic mismanagement resulted in a buildup of foreign debt. In February 2000, Mauritania qualified for debt relief under the Heavily Indebted Poor Countries (HIPC) initiative and nearly all of its foreign debt has since been forgiven. A new investment code approved in December 2001 improved the opportunities for direct foreign investment. Mauritania and the IMF agreed to a three-year Poverty Reduction and Growth Facility (PRGF) arrangement in 2006. Mauritania made satisfactory progress, but the IMF, World Bank, and other international actors suspended assistance and investment in Mauritania after the August 2008 coup. Since the presidential election in July 2009, donors have resumed assistance. Oil prospects, while initially promising, have largely failed to materialize, and the government has placed a priority on attracting private investment to spur economic growth. The Government also emphasizes reduction of poverty, improvement of health and education, and privatization of the economy. Economic growth remained above 5% in 2010-11, mostly because of rising prices of gold, copper, iron ore, and oil.

 

Source : CIA

Company name

 

GENERALE DE DISTRIBUTION IMPORTATION REPRESENTATION

 

Rating Briefing

 

Definition:                    INSUFFICIENT DATA

 

There is insufficient information for an adequate credit assessment.

 

Current Recommended Credit:

 

This rating is based on available data. In the event of additional information a possibility for a different rating applies.

 

Registration Briefing

 

Registration Number:   37086

Registration Date:        N/A

Legal Form:                 SOCIETE A RESPONSIBILITE LIMITEE

Latest Financials:        N/A

 

Financial Briefing

 

Nominal Capital:          N/A

Issued Capital:             N/A

Turnover:                     N/A

Net Profit:                    N/A

Net Worth:                   N/A

 

 

Original Investigation Details

 

Investigation Number:     181198

Company Name:            GEDIR SARL

Country:                        MM

Street Name:                 G 35 RUE COMMERCANT‑BP 3052 NOUAKCHOTT

MAURITANIE

City Code:

Phone Number:              0022245297327

Fax Number:                 0022245241858

Comments:                   RE CR: EUR 100.000

RC N 37086

 

 

Company Details

 

Company Name:            GENERALE DE DISTRIBUTION IMPORTATION

 

REPRESENTATION

 

Also trades as:              GEDIR SARL

Headquarter Address:     G‑35 Rue Commerçant,

Nouakchott,

Mauritania

 

Postal Address:             P.O.Box 3052,   Nouakchott

 

Telephone:                    +2224 5255182

                                    +2224 5297327

 

Fax:                              +2224 5241858

 

E‑Mail:                          gedir@gedir‑mr.com

Web Site:                      www.gedir‑mr.com

 

 

Registration & Legal Details

 

Current Legal Form:       SOCIETE A RESPONSIBILITE LIMITEE

Registration Address:     G‑35 Rue Commerçant, Nouakchott

Registration Number:      37086

Registration Town:         Nouakchott

 

 

Capital

 

Capital is NOT disclosed.

 

 

Shareholders / Owners

 

Information on Shareholders is not available/applicable

 

 

Principals

 

Name:                                       Mr Mohamed Ould Dahi

Position within the company:      General Director

Country of Birth:             Mauritania

Nationality:                                Mauritanian

Can fluently speak:                    Arabic & French

 

Name:                                       Mr Mohamed Ben Cheikh

Position within the company:      Import Manager

Country of Birth:             Morocco

Nationality:                                Moroccan

Can fluently speak:                    Arabic, French & English

 

 

Company Activities

 

NACE Codes:    4639     Non‑specialised wholesale of food, beverages and tobacco

 

The company GEDIR is believed to be involved with trade of food products.

 

 

Operations

 

 HQ Premises   Operates from:   Office , Shop, Warehouse

Location:           Central Business Area

 

Related Companies

 

Subsidiaries       Affiliates

Information on Related Companies is not available/applicable

 

 

Bankers

 

Information on Bankers is not available/applicable

 

 

Financial Information

 

Not Available

 

 

Payments

 

Subject's payments reported to be:          UNDETERMINED

 

 

Interview & Reporter Comments

 

Date:                                        04/03/2013

Name/Title:                                Mr. Mohamed Ben Cheikh Import Manager

Comment:                                 Company Officials have refused to co‑operate with local reporters in confirming/providing information.

 

Reporter Comment Date:            06/03/2013

Reporter Comment:                    Note that the company officials have refused to co‑operate with us.

 

Local company’s registry is inaccessible to inspect subject's file, therefore, we are unable to collect data concerning the subject you are investigating.

 

 

Conclusions

 

Local Reputation:           Local informants have not adequate information to assess the Subject's local reputation.

 

General Conclusion:       Informants suggest that suppliers monitor this account.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.54.74

UK Pound

1

Rs.82.14

Euro

1

Rs.71.12

 

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.