|
Report Date : |
19.09.2013 |
IDENTIFICATION DETAILS
|
Name : |
FOBERD CONGO SARL |
|
|
|
|
Registered Office : |
98,
Avenue Pemosso, Quartier Marche Central Cite Africaine |
|
|
|
|
Country : |
Congo |
|
|
|
|
Date of Incorporation : |
1999 |
|
|
|
|
Legal Form : |
Societe Anonyme
Responsibilitee Limitee (Anonymous Responsibilitee limited company) |
|
|
|
|
Line of Business : |
Registered to operate as
dealers in building and construction materials and related facilities |
|
|
|
|
No. of Employees : |
30 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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) |
|
Congo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
CONGO - ECONOMIC OVERVIEW
The economy is a
mixture of subsistence hunting and agriculture, an industrial sector based
largely on oil and support services, and government spending. Oil has
supplanted forestry as the mainstay of the economy, providing a major share of
government revenues and exports. Natural gas is increasingly being converted to
electricity rather than being flared, greatly improving energy prospects. New
mining projects, particularly iron ore, that may enter production as early as
late 2013 may add as much as $1 billion to annual government revenue. Economic
reform efforts have been undertaken with the support of international
organizations, notably the World Bank and the IMF, including recently concluded
Article IV consultations. Denis SASSOU-Nguesso, who returned to power when the
war ended in October 1997, publicly expressed interest in moving forward on
economic reforms and privatization and in renewing cooperation with
international financial institutions. Economic progress was badly hurt by
slumping oil prices and the resumption of armed conflict in December 1998,
which worsened the republic's budget deficit. The current administration faces
difficult economic challenges of stimulating recovery and reducing poverty. The
drop in oil prices during the global crisis reduced oil revenue by about 30%,
but the subsequent recovery of oil prices boosted the economy's GDP from
2009-12. In March 2006, the World Bank and the International Monetary Fund
(IMF) approved Heavily Indebted Poor Countries (HIPC) treatment for Congo,
which received $1.9 billion in debt relief under the program in 2010. Congo
also restructured old defaulted London Club debt in 2007, which effectively
cancelled 80% of its private debt. Contracts with China have increased Congo's
publicly held debt. Officially the country became a net external creditor as of
2011, with external debt representing less than 22% of GDP and debt servicing
less than 3% of government revenue
|
Source
: CIA |
|
Registered Name: |
FOBERD CONGO
SARL |
|
Requested Name: |
FOBERD CONGO BRAZZA |
|
Other Names: |
None |
|
Physical Address: |
98,
Avenue Pemosso, Quartier Marche Central Cite Africaine |
|
Postal Address: |
BP
15160 |
|
|
Brazzaville, |
|
Country: |
Congo |
|
Phone: |
242-222811710/222812706/811710 |
|
Fax: |
242-222811710/812714 |
|
Email: |
fokou_yves@yahoo.com |
|
Website: |
www.fokou.com |
|
Financial Index as of
December 2012 shows subject firm with a medium risk of credit. |
|
Legal Form: |
Societe Anonyme
Responsibilitee Limitee |
|
|
Date Incorporated: |
1999 |
|
|
Reg. Number: |
Congo |
|
|
Nominal Capital |
CFA.
1,000,000 |
|
|
Subscribed Capital |
CFA.
1,000,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Bernard Fokou |
Chairman |
|
|
Mr. Yves Fokou |
CEO |
|
|
Mr. Geoffrey Fokou |
Director |
|
|
Mr. Elie Nganda |
Director |
|
|
Mr. P. Laurent |
Director |
|
|
Mr. Maurice Djontu |
Admin |
|
|
Groupe Fokou |
Holding
Co. |
100% |
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
In Chad, Central African
Republic and Gabon |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
BP 4230
Pointe Noire, Congo |
Branches of the firm |
|
Registered to operate as
dealers in building and construction materials and related facilities |
|
|
Imports: |
Asia, Middle East |
|
Exports: |
None |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
firms and organizations |
|
Employees: |
30 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Congo |
|
Location: |
Owned premises, 2,500 square feet, |
|
Auditors: |
Information not available. |
|
Insurance Brokers: |
Information not
available. |
|
Currency Reported: |
West African Franc (CFA.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 497.16 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 |
|
320,000,000 |
|
Bank Name: |
CITIBANK |
|
Branch: |
Congo |
|
Comments: |
None |
|
Experiences: |
Good |
|
|
|
|
|
|
|
NOTARIAL BONDS |
None |
|
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.63.14 |
|
|
1 |
Rs.100.48 |
|
Euro |
1 |
Rs.84.36 |
INFORMATION DETAILS
|
Report Prepared
by : |
PDT |
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.