MIRA INFORM REPORT

Report Date :

21.08.2014

IDENTIFICATION DETAILS

Name :	SAKNET SARL

Registered Office :	Moroni Corniche, BP 1980, Moroni

Country :	Comoros

Date of Incorporation :	31.03.2003

Legal Form :	Societe Anonyme Responsabilitee Limitee

Line of Business :	Providers of information communication technology consulting, design, advertising, media planning, media relations, media and event solutions.

No of Employees :	20

RATING & COMMENTS

MIRA’s Rating :

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 – June 01, 2014

Country Name

Previous Rating

(31.03.2014)

Current Rating

(01.06.2014)

Comoros

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

COMOROS - ECONOMIC OVERVIEW

One of the world's poorest countries, Comoros is made up of three islands that have inadequate transportation links, a young and rapidly increasing population, and few natural resources. The low educational level of the labor force contributes to a subsistence level of economic activity, high unemployment, and a heavy dependence on foreign grants and technical assistance. Agriculture, including fishing, hunting, and forestry, contributes 50% to GDP, employs 80% of the labor force, and provides most of the exports. Export income is heavily reliant on the three main crops of vanilla, cloves, and ylang-ylang; and Comoros' export earnings are easily disrupted by disasters such as fires. The country is not self-sufficient in food production; rice, the main staple, accounts for the bulk of imports. The government - which is hampered by internal political disputes - lacks a comprehensive strategy to attract foreign investment and is struggling to upgrade education and technical training, privatize commercial and industrial enterprises, improve health services, diversify exports, promote tourism, and reduce the high population growth rate. Political problems have inhibited growth. Remittances from 200,000 Comorans abroad help supplement GDP. In December 2012, IMF and the World Bank's International Development Association supported $176 million in debt relief for Comoros, resulting in a 59% reduction of its future external debt service over a period of 40 years.

Source : CIA

SUBJECT'S NAME

Registered Name:	SAKNET SARL
Requested Name:	SAKNET SARL
Other Names:	None

ADDRESS AND TELECOMMUNICATION

Physical Address:	Moroni Corniche
Postal Address:	BP 1980
	Moroni
Country:	Comoros
Phone:	269-3330381/7739574/3259574/348603
Fax:	269-3330381
Email:	youmna@sakfofana.com/sak@sakfofana.com/ info@sakfofana.com
Website:	None

CREDIT OPINION

Financial Index as of December 2013 shows subject firm with a medium risk of credit.

LEGAL

Legal Form:	Societe Anonyme Responsabilitee Limitee
Date Incorporated:	31-March-2003
Reg. Number:	Comoros
Nominal Capital	KMF. 1,000,000
Subscribed Capital	KMF. 1,000,000
Subscribed Capital is Subscribed in the following form:
	Position	Shares
Mr. Youmna Mohamed Abdereman	MD
Mr. Said Abdoul Karim	Director
Mr. Omar Mohamed	Director
Mr. Said Kémil Abdoul Karim	Admin
Mr. Said Chanfi	Admin

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 providers of information communication technology consulting, design, advertising, media planning, media relations, media and event solutions
Imports:	Asia, Europe
Exports:	None
Trademarks:	None
Terms of sale:	Cash (30%) and 25-90 days (70%), invoices.

Main Customers:	firms and organizations
Employees:	20 employees.
Vehicles:	Several motor vehicles.
Territory of sales:	Comoros
Location:	Rented premises, 5,000 square feet,

AUDITORS AND INSURANCE

Auditors:	Information not available.
Insurance Brokers:	Information not available.

FINANCE

Currency Reported:	Comoroian Franc (KMF.)
Approx. Ex. Rate:	1 US Dollar = 367.19 Comoroian 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 KMF.)
		2013
Sales		225,000,000

BANK

Bank Name:	Société Nationale des Postes et des Services Financiers
Branch:	Comoros
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.60.67
UK Pound	1	Rs.100.81
Euro	1	Rs.80.73

INFORMATION DETAILS

Analysis Done by :	RAS

Report Prepared by :	SMN

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.