MIRA INFORM REPORT

 

 

Report Date :

26.04.2014              

 

IDENTIFICATION DETAILS

 

Name :

CAMEROON TRADE AND PROJECT ORGANIZATION

 

 

Registered Office :

CTPO Building Complex / Littoral Provincal Office N 72 First Floor Court Road Bonanjo Douala Littoral P. o. Box 363 Tiko

 

 

Country :

Cameroon

 

 

Date of Incorporation :

1998

 

 

Legal Form :

Limited Corporation 

 

 

Line of Business :

Subject operate as general traders dealing with FMCG products, Electricals, electronics.

 

 

No. of Employees

60

 

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 :

Unknown

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 Risk

 

A2

Moderate Low Risk

 

B1

Moderate Risk

 

B2

Moderate High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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

 

Company name and address

 

SUBJECT'S NAME

 

Registered Name:

CAMEROON TRADE AND PROJECT ORGANIZATION

Requested Name:

CAMEROON TRADE AND PROJECT ORGANIZATION

Other Names:

CTPO

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

CTPO Building Complex / Littoral Provincal Office N 72 First Floor Court Road Bonanjo Douala Littoral

Postal Address:

P. o. Box 363

 

Tiko

Country:

Cameroon

Phone:

237-9342931/ 3351358

Cell:

237-5286602

Fax:

237-3351414/3351346

Email:

None

Website:

None

 

LEGAL

           

Legal Form:

Limited Corporation 

Date Incorporated:

1998

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. Abande Linus Ngesseh

Director

 

_______________________________________________________________________

 

RELATED COMPANIES

                                                                    

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

OPERATIONS

 

Registered to operate as general traders dealing with FMCG products, electricals, electronics etc

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (60%) and 25-90 days (40%), invoices.

 

 

Main Customers:

Local agencies, general public

Employees:

60 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Cameroon

Location:

Leased premises, 5,000 square feet,

 

AUDITORS AND INSURANCE  

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

FINANCE

           

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

 

150,000,000

 

BANK 

 

Bank Name:

Ecobank

Branch:

Cameroon

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.61.12

UK Pound

1

Rs.102.71

Euro

1

Rs.84.52

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

Report Prepared by :

NIS

 

               

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%)

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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