MIRA INFORM REPORT

 

 

Report Date :

24.12.2014

 

IDENTIFICATION DETAILS

 

Name :

SODIGAZ MALI SRL

 

 

Registered Office :

Zone Industrielle Banankabougou-Extension, BPE-572, Bamako

 

 

Country :

Mali

 

 

Year of Establishments :

2001

 

 

Legal Form :

Societe Anonyme Responsabilitee Limitee 

 

 

Line of Business :

Subject operate as Packaging and Distribution of Natural Gaz (Butane)

 

 

No of Employees :

44

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

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 – September 30, 2014

 

Country Name

Previous Rating

(30.06.2014)

Current Rating

(30.09.2014)

Mali

b2

b2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

Mali ECONOMIC OVERVIEW

 

Among the 25 poorest countries in the world, Mali is a landlocked country that depends on gold mining and agricultural exports for revenue. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semi-desert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Mali remains dependent on foreign aid. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Industrial activity is concentrated on processing farm commodities. Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold. Mali has invested in tourism but security issues hurt the industry. Mali experienced economic growth of about 5% per year between 1996-2011, but the global recession, a military coup, and terrorist activity in the north of the country caused a decline in output in 2012; growth resumed at a slow pace in 2013. The main threat to Mali’s economy is a return to physical insecurity. Other long term threats to the economy include high population growth, corruption, a weak infrastructure, and low levels of human capital.

 

Source : CIA

SUBJECT'S NAME   

 

Registered Name:                                   SODIGAZ MALI SRL

Requested Name:                                   SODIGAZ MALI SRL

Other Names:                                          SOCIETÉ DE DISTRIBUTION DE GAZ SARL

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                   Zone Industrielle Banankabougou-Extension

Postal Address:                                      BPE-572

                                                              Bamako,

Country:                                                 Mali

Phone:                                                   223-20203381

Fax:                                                       223-20209278

Email:                                                     scom@sodigazmali.com/adv@sodigazmali.com/dt@sodigazmali.com/g

                                                              c@sodigazmali.com/ci@sodigazmali.com/od@sodigazmali.com

Website:                                                 www.sodigazmali.com

 

 

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:                                           2001

Reg. Number:                                                  Mali

Nominal Capital                                                CFA. 201,000,000

Subscribed Capital                                           CFA. 201,000,000

 

Subscribed Capital is Subscribed in the following form:

                                                                       Position                         

Mr. Oudiary Diawara                                         MD                                 

                                                                                                             

 

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 packaging and distribution of natural gaz (butane)

 

Imports:                                                           Neighboring countries

Exports:                                                          None

Trademarks:                                                     None

Terms of sale:                                                  Cash (40%) and 25-90 days (60%), invoices.

                                                                      

Main Customers:                                              firms and organizations  

Employees:                                                     44 employees.

Vehicles:                                                         Several motor vehicles.

Territory of sales:                                             Mali

Location:                                                         Rented 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 = 535.08 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                                                                    3,250,000,000

 

 

BANK 

 

Bank Name:                                                     Ecobank

Branch:                                                            Mali

Comments:                                                      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.63.45

UK Pound

1

Rs.98.88

Euro

1

Rs.77.62

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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%)

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.