MIRA INFORM REPORT

 

 

Report Date :

14.11.2013

 

IDENTIFICATION DETAILS

 

Name :

SOCIÉTÉ AFRICAINE DES PRODUITS PHARMACEUTIQUES (SAPP) SARL

 

 

Registered Office :

Zi Yaounde Mvog-MBI Direction General Yaounde Cent Cameroun P. o. Box 14577 Yaoundé

 

 

Country :

Cameroun

 

 

Date of Incorporation :

03.04.2005

 

 

Legal Form :

Societe Anonyme Responsibilitee Limitee

 

 

Line of Business :

Subject is operate as dealers in pharmaceutical products and related facilities

 

 

No. of Employees :

20 employees.

 

 

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)

Cameroun

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CAMEROUN - 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

 

SUBJECT'S NAME

           

Registered Name:

SOCIÉTÉ AFRICAINE DES PRODUITS PHARMACEUTIQUES (SAPP) SARL

Requested Name:

SAPP SARL

Trade Names:

SAPPHARMA

Other Names:

SAPP SARL

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Zi Yaounde Mvog-MBI Direction General Yaounde Cent Cameroun

Postal Address:

P. o. Box 14577

 

Yaoundé,

Country:

Cameroun

Phone:

237-22305138/22019811

Fax:

237-22305138

Email:

sapp_sarl@yahoo.fr

Website:

www.sappharma.com

 

 

LEGAL

           

Legal Form:

Societe Anonyme Responsibilitee Limitee

Date Incorporated:

03-April-2005

Reg. Number:

Cameroun

Nominal Capital

CFA. 10,000,000

Subscribed Capital

CFA. 10,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Rodrigue Nkamgain

Director

 

Mr. Richard Fondoh

Director

 

Mr. Innocent Noubissi

Manager

 

 

 

RELATED COMPANIES

                                                                    

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as dealers in pharmaceutical products and related facilites

Imports:

Asia,Middle East

Exports:

None

Trademarks:

None

Terms of sale:

Cash (40%) and 25-90 days (60%), invoices.

 

 

Main Customers:

Local agencies, firms and organizations  

Employees:

20 employees.

Vehicles:

6 motor vehicles.

Territory of sales:

Cameroun

Location:

Leased premises, 5,500 square feet,

 

 

AUDITORS AND INSURANCE

                                                                    

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

 

 

FINANCE

                                                                    

Currency Reported:

West African Franc (CFA.)

Approx. Ex. Rate:

1 US Dollar = 488.35 West 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

 

2,000,000,000

 

 

BANK

                                                                    

Bank Name:

Atlantic Bank Cameroon

Branch:

Cameroun

Comments:

None

 

 

TRADE REFERENCES

                                                                    

Experiences:

Good

 

 

NOTARIAL BONDS

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

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.63.45

UK Pound

1

Rs.101.17

Euro

1

Rs.85.55

 

 

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.