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Report Date : |
21.09.2013 |
IDENTIFICATION DETAILS
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Name : |
DAPIGEM MINERAL + COMMERCE SPRL EXPLOITATION
IMPORTEXPORT |
|
|
|
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Registered Office : |
Avenue
Du Commerce Immeuble Demitriou, Kinshasa, Gombe , DRC |
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|
|
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Country : |
Congo |
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Date of Incorporation : |
1998 |
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|
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Legal Form : |
Societe Privee Responsibilitee Limitee |
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|
|
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Line of Business : |
Importers, exporters and traders
dealing with various merchandise such as minerals, timber, IT products. |
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|
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No. of Employees : |
47 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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: DAPIGEM MINERAL + COMMERCE SPRL
EXPLOITATION
IMPORT/EXPORT
Requested Name: DAPIGEM
MINERAL + COMMERCE SPRL EXPLOITATION IMPORT/EXPORT
Other Names: DAPIGEM
MINERALS AND COMMERCE CONGO SPRL
Physical Address: Avenue Du Commerce Immeuble
Demitriou, Kinshasa, Gombe , DRC
Postal Address: 34,Lubefu
Kinshasa, Gombe ,
Country: DRC
Phone: 243-822212486/818118515/815087254
Fax: 243-815087254
Email: None
Website: None
Financial Index as of December 2012 shows subject firm with a medium risk
of credit. However, bank and credit information obtained reveal a history of
prompt payments.
Legal Form: Societe Privee Responsibilitee Limitee
Date Incorporated: 1998
Reg. Number: DRC
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr. Issa Ndangi President
Mr. Lederies
Thompson Director
None Parent company.
None Subsidiary company.
Dapigem Minerals and Commerce South Africa Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as importers, exporters and
traders dealing with various merchandise such as minerals, timber, IT products
Imports: Asia
Exports: Worldwide
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Industries,
firms and organizations
Employees: 47
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: DRC
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 491.28 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 450,000,000
Bank Name: ECOBANK
Branch: DRC
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.62.24 |
|
UK Pound |
1 |
Rs.99.90 |
|
Euro |
1 |
Rs.84.23 |
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.