MIRA INFORM REPORT

 

 

Report Date :

16.06.2014

 

IDENTIFICATION DETAILS

 

Name :

COMERCIAL SANTY SARL

 

 

Registered Office :

Zona Industrial De Bra, Bissau

 

 

Country :

Guinea-Bissau

 

 

Date of Incorporation :

02.05.1944

 

 

Legal Form :

Societe Anonyme Responsibilitee Limitee 

 

 

Line of Business :

Subject operate as dealers in general merchandise such as FMCG products, hardware

 

 

No. of Employees :

100 employees.

 

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 – March 31, 2014

 

Country Name

Previous Rating

(31.12.2013)

Current Rating

(31.03.2014)

Guinea-Bissau

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

GUINEA-BISSAU - ECONOMIC OVERVIEW

 

Guinea-Bissau's legal economy is based on farming and fishing, but trafficking in narcotics is probably the most lucrative economic activity. The combination of limited economic prospects, a weak and faction-ridden government, and favorable geography have made this West African country a way station for drugs bound for Europe. Cashew nuts are the main source of income for rural communities and the country's main export crop. Cashew sector performance helps to determine the overall macroeconomic situation of the country and food security status of rural areas. In 2013 cashew production and exports were disrupted as a result of the March 2012 coup. Guinea-Bissau is heavily reliant on foreign aid, which has not recovered to pre-coup levels.

 

Source : CIA

 

 

 

SUBJECT'S NAME   

 

Registered Name:

COMERCIAL SANTY SARL

Requested Name:

COMERCIAL SANTY SARL

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Zona Industrial De Bra,

 

Bissau

Country:

Guinea Bissau

Phone:

245-5904059

Fax:

245-5904059

Email:

info@gruposanty.com/ Sunusimon.interlagos@gmail.com

Website:

www.gruposanty.com

 

 

LEGAL

 

Legal Form:

Societe Anonyme Responsibilitee Limitee 

Date Incorporated:

 

Reg. Number:

Guinea Bissau

Nominal Capital

CFA. 10,000,000

Subscribed Capital

CFA. 10,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Raúl Hanna Mendoza

Chairman

 

Mr. Biju Kochumala

Director

 

Mr. Sunil Varghese

Admin

 

Grupo Santy

Holding Co.

100.00%

 

 

RELATED COMPANIES

 

Grupo Santy

Parent company.

None

Subsidiary company.

Listed Below

Affiliated companies.

None

Shareholder of subject firm.

None

Branches of the firm

OPERATIONS

 

Registered to operate as dealers in general merchandise such as FMCG products, hardware

Imports:

Asia, Africa

Exports:

None

Trademarks:

None

Terms of sale:

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

 

 

Main Customers:

Local agencies, general public  

Employees:

100 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Guinea Bissau

Location:

Owned premises, 25,500 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 = 484.67 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

 

7,000,000,000

 

 

BANK

 

Bank Name:

Banque Régionale de Solidarité

Branch:

Guinea Bissau

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.

 

 

AFFILIATED COMPANIES

 

COMERCIAL MARIAM

ASEMAR

REMOLCADORES MUNI

HANNA ENTERPRISES

COMERCIAL HANNA

SANTY PHARMA

GENERAL WORLD

GUINEPEDRA

HOTEL CEIBA

ENBASA

HACIENDA DEL CARCHE

CEM BISSAU

BATAMUR

BOSMAR

INTERLAGOS INTERNACIONAL

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.59.48

UK Pound

1

Rs.100.93

Euro

1

Rs.80.71

 

INFORMATION DETAILS

 

Analysis Done by :

RAS

 

 

Report Prepared by :

NNA

 

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.