|
Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
MOLOU IRCHADALY |
|
|
|
|
Registered Office : |
2 Rue Rabefiraisana Analakely 101 Antananarivo BP 625 Antananarivo |
|
|
|
|
Country : |
Madagascar |
|
|
|
|
Date of Incorporation : |
11.07.1985 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Subject operate
as importers and suppliers of general merchandise such as ladies handbags,
personal care products |
|
|
|
|
No. of Employees : |
50 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Madagascar |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
MADAGASCAR - ECONOMIC
OVERVIEW
After discarding socialist economic policies in the mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization and liberalization that has been undermined since the start of the political crisis. This strategy placed the country on a slow and steady growth path from an extremely low level. Agriculture, including fishing and forestry, is a mainstay of the economy, accounting for more than one-fourth of GDP and employing 80% of the population. Exports of apparel boomed in recent years primarily due to duty-free access to the US; however, Madagascar's failure to comply with the requirements of the African Growth and Opportunity Act (AGOA) led to the termination of the country's duty-free access in January 2010 and a sharp fall in textile production. Deforestation and erosion, aggravated by the use of firewood as the primary source of fuel, are serious concerns. The current political crisis, which began in early 2009, has dealt additional blows to the economy. Tourism dropped more than 50% in 2009 compared with the previous year, and many investors are wary of entering the uncertain investment environment. Growth was slow during 2010 to 2013 although expansion in mining and agricultural sectors is expected to contribute to more growth in 2014. International organizations and foreign donors are expected to resume development aid to Madagascar once RAJAONARIMAMPIANINA appoints a new government.
|
Source
: CIA |
|
SUBJECT'S NAME |
|
|
Registered
Name: |
MOLOU IRCHADALY |
|
Requested
Name: |
MOLOU IRCHADALY |
|
Other
Names: |
None |
|
Physical
Address: |
2 Rue Rabefiraisana Analakely 101 Antananarivo |
|
Postal
Address: |
BP 625 |
|
|
Antananarivo |
|
Country: |
Madagascar |
|
Phone: |
261-202222779 |
|
Fax: |
261-202222779 |
|
Email: |
None |
|
Website: |
None |
|
Legal
Form: |
Sole
Proprietorship |
|
|
Date
Incorporated: |
11-July-1985 |
|
|
Reg.
Number: |
Madagascar |
|
|
Nominal
Capital |
MGA. 1,000,000 |
|
|
Subscribed
Capital |
MGA. 1,000,000 |
|
|
Subscribed Capital is Subscribed
in the following form: |
||
|
|
Position |
Shares |
|
Mr. M. Irchadaly |
CEO |
|
|
Mr. B. Seraly |
Manager |
|
|
None |
Parent
company. |
|
None |
Subsidiary
company. |
|
None |
Affiliated
company. |
|
None |
Shareholder
of subject firm. |
|
None |
Branches
of the firm |
|
___________________________________________________________________________ |
|
|
Registered
to operate as importers and suppliers of general merchandise such as ladies
handbags, personal care products etc |
|
|
Imports: |
Asia |
|
Exports: |
None |
|
Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
Loca agencies, stores, outlets |
|
Employees: |
50 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Madagascar |
|
Location: |
Owned premises, 10,000 square feet, |
|
Auditors: |
Information
not available. |
|
Insurance Brokers: |
Information
not available. |
|
Currency
Reported: |
Madagascar
Ariary (MGA.) |
|
|
Approx.
Ex. Rate: |
1 US
Dollar = 2347.62 Madagascar Ariary |
|
|
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 MGA.) |
||
|
|
|
2013 |
|
Sales |
|
2,550,000,000 |
|
Bank
Name: |
Bank of Africa |
|
Branch: |
Madagascar |
|
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 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
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.