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Report Date : |
22.04.2014 |
IDENTIFICATION DETAILS
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Name : |
OMINI TRADE CAM |
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Registered Office : |
Rue
De La Joir, N 15 Deido, Douala City Littoral Province |
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Country : |
Cameroon |
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Date of Incorporation : |
15.05.2006 |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as dealers in food products and beverages as well as textiles and garments |
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No. of Employees : |
15 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Cameroon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
Cameroon 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 |
Registered Name: OMINI TRADE CAM
Requested Name: OMINI
TRADE CAM
Other Names: None
Physical Address: Rue De La Joir, N 15 Deido,
Douala City Littoral Province
Postal Address: P. o. Box
Douala City Littoral Province
Country: Ca,eroon
Phone: 237-70612348/76651488
Fax: 237-44460501/44478652
Email: omini_trade@yahoo.ca
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Limited Corporation
Date Incorporated: 15-May-2006
Reg. Number: Cameroon
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Efrem Simon Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in food products and beverages as well
as textiles and garments
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores, outlets
Employees: 15
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Cameroon
Location: Leased
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 474.15 West African Franc
Fiscal Year End: December
31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in CFA.)
2013
Sales 379,000,000
Bank Name: Societe Generale des Banques au
Cameroun (SGBC)
Branch: Cameroon
Comments: None
Experiences: Good
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.60.34 |
|
|
1 |
Rs.101.41 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Analysis Done by
: |
sub |
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|
|
|
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.