|
Report Date : |
21.02.2014 |
IDENTIFICATION DETAILS
|
Name : |
TARAN SARL |
|
|
|
|
Registered Office : |
Materiaux De Construction
& Alimentation General E Avenue Chleck
Houmed |
|
|
|
|
Country : |
Djibouti |
|
|
|
|
Date of Incorporation : |
11.03.1996 |
|
|
|
|
Legal Form : |
Societe Anonyme Responsibilitee Limitee |
|
|
|
|
Line of Business : |
Subject operate as dealers in general merchandise such as FMCG
products |
|
|
|
|
No. of Employees : |
10 |
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 |
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|
|
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Djibouti |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Djibouti ECONOMIC OVERVIEW
Djibouti's economy is based on service activities connected with the
country's strategic location and status as a free trade zone in the Horn of Africa.
Three-fourths of Djibouti's inhabitants live in the capital city; the remainder
are mostly nomadic herders. Scant rainfall limits crop production to small
quantities of fruits and vegetables, and most food must be imported. Djibouti
provides services as both a transit port for the region and an international
transshipment and refueling center. Imports, exports, and re-exports -
primarily of coffee from landlocked neighbor Ethiopia - represent 70% of port
activity at Djibouti's container terminal. Djibouti has few natural resources
and little industry. The nation is, therefore, heavily dependent on foreign
assistance to help support its balance of payments and to finance development
projects. An unemployment rate of nearly 60% continues to be a major problem.
While inflation is not a concern, due to the fixed tie of the Djiboutian franc
to the US dollar, the artificially high value of the Djiboutian franc adversely
affects Djibouti's balance of payments. Djibouti holds foreign reserves
amounting to less than six months of import coverage. Per capita consumption
dropped an estimated 35% between 1999 and 2006 because of recession, civil war,
and a high population growth rate (including immigrants and refugees). Djibouti
has experienced relatively minimal impact from the global economic downturn,
but its reliance on diesel-generated electricity and imported food leave
average consumers vulnerable to global price shocks. Djibouti in 2012 began
construction of a third port to secure its position as a critical transshipment
hub in the Horn of Africa and the principal conduit for Ethiopia's trade.
Djibouti also received funding in late 2012 for a desalination plant to begin
address the severe freshwater shortage affecting Djibouti City, and
particularly its poorest residents.
|
Source : CIA |
Registered Name: TARAN SARL
Requested Name: TARAN
SARL
Other Names: None
Physical Address: Materiaux De Construction &
Alimentation General E Avenue Chleck
Houmed,
Postal Address: P. o. Box 2134
Avenue Cheikh Houmed,
Country: Republic
of Djibouti
Phone: 253-21358503/21354360
Fax: 253-21351868
Email: None
Website: None
Financial Index as of December 2013 shows subject firm with a medium risk
of credit. However, bank and credit information obtained reveal a history of
prompt payments.
Legal Form: Societe Anonyme Responsibilitee Limitee
Date Incorporated: 11-March-1996
Reg. Number: Djibouti
Nominal Capital DJF. 1,000,000
Subscribed Capital DJF. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Mahamoud Miad
Isman MD
Mr. O. Isman 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 general merchandise such as FMCG
products
Imports: Asia,Middle
East
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Local
agencies, stores, outlets etc
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Djibouti
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Djiboutin Franc (DJF.)
Approx. Ex. Rate: 1 US Dollar = 179.70 Djiboutin 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 DJF.)
2013
Sales 750,000,000
Bank Name: International Commercial Bank
Branch: Djibouti
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.62.28 |
|
|
1 |
Rs.103.84 |
|
Euro |
1 |
Rs.85.70 |
INFORMATION DETAILS
|
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.