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Report Date : |
18.07.2014 |
IDENTIFICATION DETAILS
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Name : |
ETS GREAT ROYAL |
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Registered Office : |
Local#7, Immeuble INA, Avenue
Assigame, Grand |
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Country : |
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Year of Incorporation : |
2011 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject
operate as dealers in general merchandise such as food products, beverages
& hardware |
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No. of Employees |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Togo |
C2 |
C2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Togo ECONOMIC OVERVIEW
This small,
sub-Saharan economy depends heavily on both commercial and subsistence
agriculture, which provides employment for a significant share of the labor force.
Some basic foodstuffs must still be imported. Cocoa, coffee, and cotton
generate about 40% of export earnings with cotton being the most important cash
crop. Togo is among the world's largest producers of phosphate and Togo seeks
to develop its carbonate phosphate reserves. The government's decade-long
effort, supported by the World Bank and the IMF, to implement economic reform
measures, encourage foreign investment, and bring revenues in line with
expenditures has moved slowly. Progress depends on follow through on
privatization, increased openness in government financial operations, progress
toward legislative elections, and continued support from foreign donors.
Foreign direct investment inflows have slowed over recent years. Togo completed
its IMF Extended Credit Facility in 2011 and reached a HIPC debt relief
completion point in 2010 at which 95% of the country's debt was forgiven. Togo
continues to work with the IMF on structural reforms.
|
Source
: CIA |
Registered Name: ETS GREAT ROYAL
Requested Name: ETS
GREAT ROYAL
Other Names: None
Physical Address: Local#7, Immeuble INA, Avenue
Assigame, Grand Marche,
Postal Address: P. o. Box
Lome,
Country: Togo
Phone: 228-92024712
Fax: 228-92024712
Email: info.greatroyal@gmail.com
Website: None
Financial
Index as of December 2013 shows subject firm with a high risk of credit.
Legal Form: Sole Proprietorship
Date Incorporated: 2011
Reg. Number: Togo
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Amadou Diallo GM
None Parent concern.
None Subsidiary concern.
None Affiliated concern.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in general merchandise such as food
products, beverages & hardware
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 25-90 days (20%), invoices.
Main Customers: Local
agencies, general public
Employees: 10
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Togo
Location: Rented
premises, 1,500 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 484.74West 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 65,000,000
Bank Name: Banque Atlantique Lome, Togo
Account Number: 46000440000
Branch: Togo
Comments: None
This
information was obtained from outside sources other than the subject concern
itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.60.14 |
|
UK Pound |
1 |
Rs.103.00 |
|
Euro |
1 |
Rs.81.33 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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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.