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MIRA INFORM REPORT

 

 

Report Date :

25.05.2013

 

IDENTIFICATION DETAILS

 

Name :

SOCIETECOMMERCIALE DAME NDIAYESARL

 

 

Registered Office :

37. Rue Sandiniery X Raffenel Dakar

 

 

Country :

Senegal

 

 

Date of Incorporation :

2005

 

 

Legal Form :

Limited Liability Company

 

 

Line of Business :

Consumer goods wholesale

 

 

No. of Employees :

25

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

No Complaints

 

 

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)

Senegal

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

 

SENEGAL - ECONOMIC OVERVIEW

 

Senegal relies heavily on donor assistance and foreign direct investment. The country's key export industries are phosphate mining, fertilizer production, and commercial fishing. The country is also working on iron ore and oil exploration projects. After seeing its economy contract by 2.1% in 1993, Senegal made an important turnaround, thanks to an economic reform program backed by the donor community, which led to real growth in GDP averaging over 5% annually during 1995-2007. Annual inflation was pushed down to the single digits. The global economic downturn reduced growth to 2.2% in 2009. The IMF completed a non-dispersing, Policy Support Initiative program in 2010 and approved a new three-year policy support instrument in December 2010 to assist with economic reforms. Senegal also receives disbursements from a $540 million Millennium Challenge Account for infrastructure and agriculture development. In 2012, the economy began to rebound after a weak 2011. The economy continues to suffer from unreliable power supply, which has led to public protests and high unemployment and has prompted migrants to flee Senegal in search of better job opportunities in Europe.

Source : CIA

 

REGISTERED NAME & COMPANY SUMMARY

 

SOCIETECOMMERCIALE DAME NDIAYESARL

SCDN

 

ADDRESSES:

Main Address:               37. Rue Sandiniery X Raffenel

Zip code/City:               Dakar, Senegal

Telephone:                    +221 338 21 16 45

Fax:                              +221 338 21 16 45

 

Web site:                      http://www.scdn.sn (Website under construction)

E-mail:                          edn1@sentoo.sn

WIN Worldbox No.:       SN0000020063

 

 

Profile

 

Established:                  2005

Line of Business:          Consumer goods wholesale

Industry Division:          Wholesale trade

Industry-code (NACE):   4639 Non-specialised wholesale of food, beverages and tobacco

Banks:                          Banque SGBS, Sénégal

Employees:                  25

 

CNPJ:   -

 

 

DIRECTORS/MANAGEMENT

 

Board of Directors:

General Director            Dame Ndiaye

 

 

NEGATIVE INFORMATION

 

Public information:

-

 

 

SHARE & SHARE CAPITAL INFORMATION

 

State Register:                                      SN-DKR-2005-B3190

Legal form:                                           Limited Liability Company

Balance sheet filing date:                       -

Tax Contributor Number (CNPJ):            -

Legal status:                                         active

Responsible Register:                           Chambre de commerce de Dakar

 

Entry    Deleted Name

active                           SocieteCommerciale Dame NdiayeSarl

 

 

PAYMENT INFORMATION

 

Import and Export:

Import, Export

 

 

Payment history:

No complaints on record.

 

 

GROUP STRUCTURE & AFFILIATED COMPANIES

 

Owners/-s:

Name(s) of the sharreholder(s) are not available.

 

 

FINANCIAL INFORMATION

 

Financial information:

Subject matter is not required to file accounts.

Turnover 2012 as per own statement: EUR 13.000.000,-

 

 

FOREIGN EXCHANGE RATES

 

Exchange rate:

US$ 1,00  =  XOF 509,793         -  Official rate on 24.05.2013

 

 

ADDITIONAL INFORMATION

 

Main Activities:

The business is engaged in food trade; import and export of all kinds of food stuffs.

 

Operations & branches:

At the address, 37 Rue Sandiniery X Raffenel, Dakar, we find the companies head office.

They have also two branches:

Thiaroye, Dakar.

CICES, Centre International du Commerce Extérieur du Sénégal, Dakar.

 

Staff:

25

 

 

NOTES & COMMENTS

 

When contacting the company, they declined to provide any information by phone. As per their request we have sent an email requesting further details.

After a few days, we have received some information directly per e-mail from the company, including stated turnover and bankers details.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.61

UK Pound

1

Rs.83.98

Euro

1

Rs.71.94

 

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.