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Report Date : |
16.03.2013 |
IDENTIFICATION DETAILS
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Name : |
COSMOS 3000 |
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Registered Office : |
BP 5053 Abidjan 23 |
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Country : |
Cote D’Ivoire |
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Date of Incorporation : |
03.06.2008 |
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Com. Reg. No.: |
239656 Cote D’Ivoire |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
General Traders dealing with hardware products
and related facilities |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually Correct |
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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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
|
Cote D’Ivoire |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Cote d'Ivoire - ECONOMIC OVERVIEW
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly 68% of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products, and, to a lesser extent, in climatic conditions. Cocoa, oil, and coffee are the country's top export revenue earners, but the country is also producing gold. Since the end of the civil war in 2003, political turmoil has continued to damage the economy, resulting in the loss of foreign investment and slow economic growth. GDP grew by more than 2% in 2008 and around 4% per year in 2009-10. Per capita income has declined by 15% since 1999 but registered a slight improvement in 2009-10. Power cuts caused by a turbine failure in early 2010 slowed economic activity. Cote d'Ivoire in 2010 signed agreements to restructure its Paris Club bilateral, other bilateral, and London Club debt. Cote d'Ivoire's long term challenges include political instability and degrading infrastructure. In late 2011, Cote D'Ivoire's economy was recovering from a severe downturn of the first quarter of the year that was caused by widespread post-election fighting.
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Source
: CIA |
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COMPANY
REPORTED: |
COSMOS
3000 |
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Trade
Names: |
QUINCAILLERIE
COSMOS 3000 |
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Principal
Address: |
BP 5053
Abidjan 23, Cote D’Ivoire |
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Telephone:
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+225-08953805/22429674 |
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Fax: |
+225-22429669 |
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Email: |
None |
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Internet: |
None |
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Established: |
03/06/2008 |
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Registration: |
239656
Cote D’Ivoire |
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Legal
Form: |
Limited
Liability Company, Limited by shares |
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Stock
Listing: |
Not
Listed |
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Workforce: |
2012 |
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10 |
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Office
& Factories |
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Head
offices |
Cocody
Angre 8Ieme Tranche, Abidjan 23, Cote D’Ivoire |
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Branches |
None |
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Management/ Directors |
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President/ CEO (1) |
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Name |
Mr. Daher Nasser Saleh |
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Active in daily business: |
Active |
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Current Title: |
Managing Director |
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Country of
residence |
Cote D’Ivoire |
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Remarks |
Top
Decision Maker |
No negative information found.
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Company
Profile: |
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||
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Nominal
Capital |
CFA. 1,000,000 |
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Paid in
Capital |
CFA. 1,000,000 |
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Subscribed
Capital |
CFA. 1,000,000 |
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Shareholders
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Name |
Position |
Amount |
Ratio |
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Mr. Daher Nasser Saleh |
MD |
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Mr. Y.Saleh |
Manager |
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|
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Total |
|
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100.00% |
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Terms of payment |
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Buying terms |
30% in cash, 70% on credit |
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Selling terms |
80% in cash, 20% on credit |
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|
|
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Suppliers |
Various supplies |
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Customers |
Individuals,firms etc |
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|
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Recent Sales |
CFA. 255,000,000
(2012 Estimated) |
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Exports |
None |
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Export Ratio |
0.0% |
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Import Ratio |
10.0% |
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Domestic Market Share |
20.0% |
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Affiliated
Companies |
None |
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Exchange
Rate |
US$ 1 =
CFA. 504.81 |
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Business
Activities |
General Traders dealing with hardware products and
related facilities |
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Business
Premises |
800 Sft |
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Type of
occupation |
Leased |
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Location |
The
subject is located close to a major road network |
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Premises
used as
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Offices,
Workshop |
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Banking relationship |
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Main Banks |
Citibank |
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Credit Check of Subject, President
& CEO (as of report date) |
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Payment
Morale: |
In the documents at our disposal nothing
adverse has been shown so far. |
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CREDIT
RATING: |
Financial
situation is average. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.81.74 |
|
Euro |
1 |
Rs.70.50 |
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 |
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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 |
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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 |
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---- |
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.