|
Report Date : |
28.11.2013 |
IDENTIFICATION DETAILS
|
Name : |
SAEML CYCLEA |
|
|
|
|
Registered Office : |
24 Rue Pierre Brossolette Zac , Mascareignes Bp 80, Le Port Cedex 97822,
Ile de la Reunion |
|
|
|
|
Country : |
Reunion Island |
|
|
|
|
Date of Incorporation : |
15.12.1998 |
|
|
|
|
Legal Form : |
Societe Anonyme |
|
|
|
|
Line of Business : |
Waste Management |
|
|
|
|
No. of Employees : |
170 |
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 – September 30th, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Reunion Island |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GEOPOLITICS
|
|
|
POLITICAL DATA |
ECONOMIC DATA |
|
Form of Government: French Overseas Territory
|
Currency: Eur |
IDENTIFICATION
|
|||
|
Ordered as: |
CYCLEA SAMEL |
||
|
Address in the order: |
24 RUE PIERRE BROSSOLETTE ZAC MASCAREIGNES BP 80-97822 LEPORT CEDEX LLE DE LA-REUNION |
||
|
Comments on data supplied: |
The name in the order is incorrect |
||
|
Legal Name: |
SAEML CYCLEA |
||
|
Trade Name: |
CYCLEA |
||
|
Legal Address |
24 RUE PIERRE BROSSOLETTE ZAC MASCAREIGNES BP 80 |
||
|
Postal Town |
Le Port Cedex |
||
|
Post Code |
97822 |
||
|
Primary Geographic Area |
Ile de la Reunion |
||
|
Country |
FR |
||
|
Location Status |
Headquarters, |
||
|
Telephone: |
+262 55 23 70 |
|
|
|
Fax: |
+262 55 23 71 |
Legal Form: |
Societe Anonyme |
|
Email: |
Registered in: |
FR |
|
|
Website: |
Date Created: |
1998 |
|
|
Manager: |
Olivier Wagner General Manager |
Date Incorporated: |
December 15, 1998 |
|
Staff: |
170 |
Stock: |
N A |
|
|
|
Value: |
3 975 979 Eur |
|
Activity: |
Waste Management |
||
BANKS
|
|
|
Name of the Bank |
BRED |
|
Comments |
This information was not confirmed by the company |
BUSINESS
HISTORY |
|
|
|
Cyclea is a public local company created in 1998. Since 2005 it offers
tailored solutions for processing recyclable materials in compliance with
people and the environment. Since June 2009 fire that
destroyed all of its facilities, Cyclea has maintained all of its private
activities and public service delivery, while leading to front rebuilding its
main tool exploitation. September 2011, the new hub comes: a modern
industrial process, a larger building (total reception capacity: 58,000 tons
/ year). Respectful of environmental and safety standards, the new site was
designed to be an educational showcase of waste sorting in Reunion. |
|
PRINCIPAL ACTIVITY |
|
|
|
The main activity is waste management |
|
Products/Services description: |
|
|
|
SAEML supports local authorities and industrial Reunion, and supports
the overall management of their waste through its offer of sorting, treatment
and recovery. |
|
Clients: |
|
|
|
The main clients are local authorities, industrial companies in
Reunion Island and Indian Ocean territories. |
|
Operations area: |
|
|
|
Local |
|
The subject employs 170 employee(s) |
|
|
Comments on staff: |
|
|
|
This information was confirmed by the company |
|
LOCATION |
|
|
Headquarters |
|
|
|
24 rue Brossolettes ZAC des Mascareignes BP 80 97822 Le Port Cedex La Reunion |
|
Comments on location: |
|
|
|
At the address listed below are located the offices |
|
Branches: |
|
|
|
The company has different waste site located in the island. The company
manages the waste on the West side of the island. |
Shareholders
Manager -
Related Companies |
|
|
Capital: |
|
|
|
the capital is 3 975 979 euros€ |
|
Shareholders Parent Company(ies): |
|
|
|
Collectivités territoriales : STAR SITA (SOCIETE DE TRANSPORT ET
D'ASSAINISSEMENT DE LA REUNION);TCO (TERRITOIRE DE LA CÔTE OUEST). Autres : METAL REUNION;NICOLLIN REUNION;VEOLIA PROPRETE. |
|
Management: |
|
|
|
Olivier Wagner is the General Manager |
Financials
COMMERCIAL TRENDS AND FORECAST |
|
The subject is a local public company EPL: it means it is part public
part private and therefore it obeys to both public and commercial law. |
|
Currency |
DATE |
|
EUR |
2012 |
|
Turnover |
10 172 000 |
|
The cash flow is |
correct |
|
Legal Fillings |
|
The
sources consulted record no detrimental legal or labor court information. |
Rating
|
|
|
Local credit bureau gave a Normal credit
rate. The company is in Good Standing. This
means that all local and federal taxes were paid on due date. |
|
|
Final
Opinion |
|
|
|
The subject is a Entreprise publique locale is organized under private
law and delivers services of general interest. Public authorities hold at least
the majority of these Societe Anonyme which equal the British limited
company. It is specialized in waste management,
with an equipment brand new ( 2009/2010) it is expanding in a growing area of
business. Note that Veolia Proprete is one of the private shareholders of the
company, Veolia proprete is a divion of Veolia Environmental services which
employs nearly 65 000 staff and has operations in 35 countries around. |
|
|
|
||
|
Profitability |
N.A. |
Public |
NO |
|
Indebtedness |
N.A. |
Payments |
No
Complaints |
|
Cash |
NORMAL |
|
|
APPENDIX
|
|
|
Person Interviewed |
|
|
|
employee |
|
Comments |
|
|
|
Despites our attempts it was not possible to speak to somebody with enough
credentials to answer our questions during regular business hours. |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.36 |
|
UK Pound |
1 |
Rs.101.11 |
|
Euro |
1 |
Rs.84.68 |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.