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Report Date : |
12.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
ETS MOHAMED LEMINE OULD MEME ET FRERES |
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Registered Office : |
Commerce General Marche De La Capital, P. o. Box Nouakchott |
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Country : |
Mauritania |
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Date of Incorporation : |
16.03.1998 |
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Com. Reg. No.: |
7215 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operate as importers
and distributors of eneral merchandise such as FMCG products, electricals |
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No. of Employees : |
30 |
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 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No complaints |
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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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Mauritania |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MAURITANIA - ECONOMIC OVERVIEW
Mauritania's economy is dominated
by natural resources and agriculture. Half the population still depends on
agriculture and livestock for a livelihood, even though many of the nomads and
subsistence farmers were forced into the cities by recurrent droughts in the
1970s and 1980s. Mauritania's extensive mineral resources include iron ore,
gold, copper, gypsum, and phosphate rock and exploration is ongoing for
uranium, crude oil, and natural gas. Extractive commodities make up 75% of
Mauritania's total exports. The nation's coastal waters are among the richest
fishing areas in the world, and fishing accounts for 20% of budget revenues,
but overexploitation by foreigners threatens this key source of revenue. Risks
to Mauritania's economy include its recurring exposure to droughts, dependence
on foreign aid and investment, and insecurity in neighboring Mali, as well as
significant shortages of infrastructure, institutional capacity, and human
capital.
|
Source
: CIA |
|
Registered Name: |
ETS MOHAMED LEMINE
OULD MEME ET FRERES |
|
Requested Name: |
ETS MOHAMED LEMINE OULD |
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Other Names: |
None |
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Physical Address: |
Commerce General Marche De La Capital, |
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Postal Address: |
P.
o. Box |
|
|
Nouakchott, |
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Country: |
Mauritania |
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Phone: |
222-5256501 |
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Fax: |
222-5256501 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
Sole Proprietorship |
|
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Date Incorporated: |
16-March-1998 |
|
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Reg. Number: |
7215 |
|
|
Nominal Capital |
MRO.
1,000,000 |
|
|
Subscribed Capital |
MRO.
1,000,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Mohamed Ould Lemine Meme |
CEO |
100% |
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
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Registered to operate as
importers and distributors of eneral merchandise such as FMCG products,
electricals |
|
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Imports: |
Asia,Middle East |
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Exports: |
None |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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|
|
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Main Customers: |
Local agencies, stores |
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Employees: |
30 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Mauritania |
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Location: |
Owned premises, 5,500 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Mauritania Ouguiya (MRO.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 290.70
Mauritania Ouguiya |
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Fiscal Year End: |
December 31, 2013 |
|
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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|
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||
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Financial Information not
Submitted |
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|
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|
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|
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Profit and Loss
(expressed in MRO.) |
||
|
|
|
2013 |
|
Sales |
|
265,000,000 |
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Bank Name: |
Banque
El Amana (BEA) |
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Branch: |
Mauritania |
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Comments: |
None |
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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.60.70 |
|
|
1 |
Rs.100.97 |
|
Euro |
1 |
Rs.84.16 |
INFORMATION DETAILS
|
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 |
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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.