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Report Date : |
09.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE GABONAISE DE REPRESENTATION - GAREP |
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Registered Office : |
BP 4057 Liberville |
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Country : |
Gabon |
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Date of Incorporation : |
21.04.2002 |
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Com. Reg. No.: |
RCCM LBV 2002B011530 |
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Legal Form : |
Limited Liability Company, Limited by shares |
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Line of Business : |
General Traders dealing with food products and
beverages |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 : |
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) |
|
Gabon |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 |
gabon ECONOMIC OVERVIEW
Gabon enjoys a per capita income four times that of most sub-Saharan
African nations, but because of high income inequality, a large proportion of
the population remains poor. Gabon depended on timber and manganese until oil
was discovered offshore in the early 1970s. The economy was reliant on oil for
about 50% of its GDP, about 70% of revenues, and 87% of goods exports for 2010,
although some fields have passed their peak production. A rebound of oil prices
from 1999 to 2008 helped growth, but declining production has hampered Gabon
from fully realizing potential gains. Gabon signed a 14-month Stand-By
Arrangement with the IMF in May 2007, and later that year issued a $1 billion
sovereign bond to buy back a sizable portion of its Paris Club debt. Gabon
continues to face fluctuating prices for its oil, timber, and manganese
exports. Despite the abundance of natural wealth, poor fiscal management has
stifled the economy. However, President BONGO ONDIMBA has made efforts to
increase transparency and is taking steps to make Gabon a more attractive
investment destination to diversify the economy. BONGO ONDIMBA has attempted to
boost growth by increasing government investment in human resources and
infrastructure. GDP grew more than 6% per year over the 2010-12 period.
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Source : CIA |
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COMPANY
REPORTED: |
SOCIETE
GAREP |
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Actual
Names: |
SOCIETE
GABONAISE DE REPRESENTATION - GAREP |
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Other
Names: |
GAREP
ALIMENTATION |
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Principal
Address: |
BP
4057 Liberville, Gabon |
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Telephone:
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+241-743180/81 |
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Fax: |
+241-773179 |
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Email: |
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Internet: |
None |
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Established: |
21/04/2002 |
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Registration: |
RCCM
LBV 2002B011530 |
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Trade
License: |
7571
Libreville, Gabon |
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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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50 |
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Office
& Factories |
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Head
offices |
Zone
Industrielle d'Oloumi Libreville, Gabon |
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Branches
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None |
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Management/
Directors |
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President/
CEO (1) |
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Name |
Mr. Denis Torchiana |
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Active in daily
business: |
Active |
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Current Title: |
Managing Director |
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Country
of residence |
Gabon |
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Remarks |
Top Decision
Maker |
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Director
(2) |
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Name |
Mr. Hyler Bekale |
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Active in daily
business: |
Active |
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Current Title: |
Director |
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Country
of residence |
Gabon |
Þ Top decision maker is the person who has the
ultimate authority or power to make important managerial decisions. He/She may
or may not be officially registered as a president or an executive director.
|
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. |
No negative
information found.
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Company
Profile: |
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||
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Nominal
Capital |
CFA. 10,000,000 |
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Paid
in Capital |
CFA. 10,000,000 |
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Subscribed
Capital |
CFA. 10,000,000 |
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Shareholders
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|
Name |
Position |
Amount |
Ratio |
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Mr. Denis Torchiana |
MD |
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Mr. Hyler Bekale |
Director |
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Mr. Edgard Tougouma |
Admin |
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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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Affiliated Companies |
None |
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Exchange Rate |
US$ 1 = CFA. 500.20 |
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Business
Activities |
General Traders dealing with food products and
beverages |
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Suppliers |
Various
suppliers |
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Customers |
Local agencies, stores, public etc |
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Recent
Sales |
CFA.
780,000,000 (2012 Estimated) |
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Exports
|
None
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Export
Ratio |
0.0% |
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Import
Ratio |
30.0% |
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Domestic
Market Share |
20.0% |
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Business
Premises |
2000
Sft |
|
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
|
Offices |
|
Banking
relationship |
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|
Main
Banks |
ECOBANK |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.16 |
|
UK Pound |
1 |
Rs.83.88 |
|
Euro |
1 |
Rs.70.99 |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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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.