MIRA INFORM REPORT

 

 

Report Date :

23.10.2013

 

IDENTIFICATION DETAILS

 

Name :

COMPTOIR COMMERCIAL BARA MBOUP HOLDING

 

 

Registered Office :

Centre Commercial Touba Sandaga, 128, Avenue Lamine Gueye X Rue Marchand, Paul Holle, Dakar

 

 

Country :

Senegal

 

 

Date of Incorporation :

25.09.1995

 

 

Com. Reg. No.:

SNDKR92B650

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Subject operate as a General Trading company, dealing with Importation and Distribution of Industrial hardware, hand tools and light industrial machinery and other similar products, The subject imports on its own account and also purchases from local wholesalers in Nairobi.  Bulk of the company's business is conducted on semi wholesale and retail basis.

 

 

No. of Employees :

740 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)

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

 

 

SUBJECT'S NAME

                                                           

Registered Name:

COMPTOIR COMMERCIAL BARA MBOUP HOLDING

Requested Name:

CCBM

Other Names:

CCBM HOLDING

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Centre Commercial Touba Sandaga, 128, Avenue Lamine Gueye X Rue Marchand, Paul Holle, Dakar,

Postal Address:

BP 27256,

 

Dakar,

Country:

Senegal

Phone:

221-33-8495699/8496549

Fax:

221-33-8244086/8222026/8421817

Email:

ccbm@ccbm.sn/mordiop@ccbm.sn/serigne.mboup@ccbm.sn

Website:

www.ccbm.sn

 

 

LEGAL

                                                                    

Legal Form:

Limited Corporation 

Date Incorporated:

25-Sept-1995

Reg. Number:

SNDKR92B650

Nominal Capital

CFA. 10,000,000

Subscribed Capital

CFA. 10,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Serigne Mboup

MD

 

Mr. Djibril Kanoute

Director

 

 

 

RELATED COMPANIES 

 

None

Parent company.

None

Subsidiary company.

CCBM VOYAGES,

SOTRAM SA - SOCIETE DE TRANSPORT MODERNE,

AFRICA TRANSIT,

TOUBA SANDAGA,

ESPACE AUTO,

CCBM ELECTRONICS,

CCBM IMMOBILIER (REAL ESTATE),

CCBM TECHNOLOGIES ET SOLUTIONS.

Affiliated companies.

None

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as a General Trading company, dealing with Importation and Distribution of Industrial hardware, hand tools and light industrial machinery and other similar products, The subject imports on its own account and also purchases from local wholesalers in Nairobi.  Bulk of the company's business is conducted on semi wholesale and retail basis.

Imports:

Asia, Europe

Exports:

None

Trademarks:

None

Terms of sale:

Cash (30%) and 25-90 days (70%), invoices.

 

 

Main Customers:

firms and organizations  

Employees:

740 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Senegal

Location:

Owned premises, 200,000 square feet,

 

 

AUDITORS AND INSURANCE  

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

                                                                    

FINANCE

                                                                    

Currency Reported:

West African Franc (ETB.)

Approx. Ex. Rate:

1 US Dollar = 479.96 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 ETB.)

 

 

2012

Sales

 

42,000,000,000 

 

 

BANK 

 

Bank Name:

BOA Bank

Branch:

Senegal

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.61.78

UK Pound

1

Rs.99.66

Euro

1

Rs.84.49

 

 

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%)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.