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Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
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Name : |
MET TRADE OVERSEAS SARL |
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Registered Office : |
Nyarugenge
Nyarugenge Umujyi wa Kigali |
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Country : |
Rwanda |
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Date of Incorporation : |
18.04.2007 |
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Com. Reg. No.: |
101514088 |
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Legal Form : |
Societe Anonyme Responsibilitee Limitee |
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Line of Business : |
Engaged in recycling of lead |
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No. of Employees |
80 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Rwanda |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Rwanda ECONOMIC OVERVIEW
Rwanda is a poor rural country with about 90% of the population engaged
in (mainly subsistence) agriculture and some mineral and agro-processing.
Tourism, minerals, coffee and tea are Rwanda's main sources of foreign
exchange. Minerals exports declined 40% in 2009-10 due to the global economic
downturn. The 1994 genocide decimated Rwanda's fragile economic base, severely
impoverished the population, particularly women, and temporarily stalled the
country's ability to attract private and external investment. However, Rwanda
has made substantial progress in stabilizing and rehabilitating its economy to
pre-1994 levels. GDP has rebounded with an average annual growth of 7%-8% since
2003 and inflation has been reduced to single digits. Nonetheless, a
significant percent of the population still live below the official poverty
line. Despite Rwanda's fertile ecosystem, food production often does not keep
pace with demand, requiring food imports. Rwanda continues to receive
substantial aid money and obtained IMF-World Bank Heavily Indebted Poor Country
(HIPC) initiative debt relief in 2005-06. In recognition of Rwanda's successful
management of its macro economy, in 2010, the IMF graduated Rwanda to a Policy
Support Instrument (PSI). Rwanda also received a Millennium Challenge Threshold
Program in 2008. Africa's most densely populated country is trying to overcome
the limitations of its small, landlocked economy by leveraging regional trade.
Rwanda joined the East African Community and is aligning its budget, trade, and
immigration policies with its regional partners. The government has embraced an
expansionary fiscal policy to reduce poverty by improving education, infrastructure,
and foreign and domestic investment and pursuing market-oriented reforms.
Energy shortages, instability in neighboring states, and lack of adequate
transportation linkages to other countries continue to handicap private sector
growth. The Rwandan Government is seeking to become regional leader in
information and communication technologies. In 2010, Rwanda neared completion
of the first modern Special Economic Zone (SEZ) in Kigali. The SEZ seeks to
attract investment in all sectors, but specifically in agribusiness,
information and communications technologies, trade and logistics, mining, and
construction. The global downturn hurt export demand and tourism, but economic
growth has recovered, driven in large part by the services sector, but
inflation has grown. On the back of this growth, government is gradually ending
its fiscal stimulus policy while protecting aid to the poor
|
Source : CIA |
Registered Name: MET TRADE OVERSEAS SARL
Requested Name: MET
TRADE OVERSEAS SARL
Other Names: None
Physical Address: Nyarugenge Nyarugenge Umujyi wa
Kigali,
Postal Address: BP 1633
Kigali,
Country: Rwanda
Phone: 250-574283
Fax: 250-574283
Email: info@mtil.in
Website: www.metenere.com
Financial Index as of December 2013 shows subject firm with a medium
risk of credit.
Legal Form: Societe Anonyme Responsibilitee Limitee
Date Incorporated: 18-April-2007
Reg. Number: 101514088
Nominal Capital RWF. 1,000,000
Subscribed Capital RWF. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Raman Gupta Director
Mr. Ankur Singh Director
Mr. Subhash
Chandra Tandon Director
Mr. Sanjeev Arora Director
MET TRADE (INDIA) LIMITED Holding
Co. 100%
MET TRADE (INDIA) LIMITED Parent company.
None Subsidiary company.
MET TRADE (INDIA) LIMITED,
MET TRADE (GLOBAL) LIMITED,
SARL MET TRADE FRANCE,
MET TRADE DO BRASIL RECICLAGEM
E PARTICIPACOES LTDA,
MET TRADE (U.A.E) FZC,
AFROMET SPRL,
MET TRADE (BHUTAN) LIMITED,
MET TRADE (GHANA) LIMITED,
MET TRADE S.A,
MET AFRO METAL SOUTH AFRICA
(PTY) LTD,
MET TRADE (U.K) LTD. Affiliated companies.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate recycling of lead
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Rwanda
Location: Rented
premises, 20,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Rwandan Franc (RWF.)
Approx. Ex. Rate: 1 US Dollar = 676 Rwandan 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 RWF.)
2013
Sales 650,000,000
Bank Name: Access Bank Rwanda (ABR)
Branch: Kigali, Rwanda
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.60.49 |
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|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
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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 |
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41-55 |
Ba |
Overall
operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
-- |
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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.