REVISED REPORT
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Report Date : |
20.10.2014 |
IDENTIFICATION DETAILS
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Name : |
GABONAISE DE CHIMIE (GCIAE) |
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Registered Office : |
Zone
Industrielle Oloumi, Libreville, BP 20375, Libreville |
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Country : |
Gabon
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Date of Incorporation : |
10.02.2000 |
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Com. Reg. No.: |
2001-B-01279 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Subject operate as
manufacture and distribution of chemicals and other allied products for
industrial, agricultural, health and safety sectors |
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No of Employees : |
100 |
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 – June 1, 2014
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Gabon |
B2 |
B1 |
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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 |
GABON - ECONOMIC OVERVIEW
Gabon enjoys a per capita
income four times that of most sub-Saharan African nations, but because of high
income inequality, a large proportion of the population remains poor. Gabon
depended on timber and manganese until oil was discovered offshore in the early
1970s. The economy was reliant on oil for about 50% of its GDP, about 70% of
revenues, and 87% of goods exports for 2010, although some fields have passed
their peak production. A rebound of oil prices from 1999 to 2008 helped growth,
but declining production has hampered Gabon from fully realizing potential
gains. Gabon signed a 14-month Stand-By Arrangement with the IMF in May 2007,
and later that year issued a $1 billion sovereign bond to buy back a sizable
portion of its Paris Club debt. Gabon continues to face fluctuating prices for
its oil, timber, and manganese exports. Despite the abundance of natural
wealth, poor fiscal management has stifled the economy. However, President
BONGO ONDIMBA has made efforts to increase transparency and is taking steps to
make Gabon a more attractive investment destination to diversify the economy.
BONGO ONDIMBA has attempted to boost growth by increasing government investment
in human resources and infrastructure. GDP grew more than 6% per year over the
2010-13 period.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
GABONAISE DE
CHIMIE (GCIAE) |
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Requested Name: |
GABONAISE DE CHIMIE |
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Other Names: |
CHIMIE GABON SA |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Zone
Industrielle Oloumi, Libreville, Gabon |
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Postal Address: |
BP
20375 |
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Libreville, |
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Country: |
Gabon |
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Phone: |
241-01-704625/702907/08/721761/720656/76/
764899 |
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Fax: |
241-01-733303/704629/765770/747067 |
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Email: |
chimie.gabon@igtelecom.net/chimiegabon@yahoo.fr/gciae@ymail.com/ d.cormoulshoules@gciae.com |
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Website: |
www.gciae.com |
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CREDIT
OPINION
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Financial Index as of December
2013 shows subject firm with a medium risk of credit. However, bank and
credit information obtained reveal a history of prompt payments. |
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LEGAL
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Legal Form: |
Societe Anonyme |
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Date Incorporated: |
10/02/2000 |
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Founded: |
03/09/1991 |
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Started: |
04/07/1992 |
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Registered: |
2001 |
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Reg. Number: |
2001-B-01279 |
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Tax Number: |
21396 |
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Nominal Capital |
CFA. 600,000,000 |
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Subscribed Capital |
CFA. 600,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Dominique Grimaldi |
MD/Chairman |
51% |
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Mr. Charlie Gillot |
Director |
4% |
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Mr. Daniel Cormouls |
Director |
4% |
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Mr. Pierre Lephilibert |
Shareholder |
41% |
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RELATED
COMPANIES
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None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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Mr. Dominique Grimaldi Mr. Charlie Gillot Mr. Daniel Cormouls Mr. Pierre Lephilibert |
Shareholders of subject
firm. |
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-Oloumi Industrial Zone, B.P. 20375 Libreville, Gabon - Carrefour Forasol Non loin du magasin Sodexo B.P. 20375 Port-Gentil,
Gabon |
Branches of the firm |
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OPERATIONS
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Registered to operate as manufacture
and distribution of chemicals and other allied products for industrial,
agricultural, health and safety sectors |
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Imports: |
Asia,Middle East |
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Exports: |
Neighboring countries |
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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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Main Customers: |
Industries, local agencies, firms and organizations |
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Employees: |
100 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Gabon |
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Location: |
Owned premises, 50,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
West African Franc (CFA.)
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Approx. Ex. Rate: |
1 US Dollar = 519.94 West
African Franc |
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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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Financial Information not
Submitted |
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Profit and Loss
(expressed in ETB.) |
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2013 |
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Sales |
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11,000,000,000 |
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BANK
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Bank Name: |
BGFI
Bank |
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Branch: |
Libreville,
Gabon |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
None |
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COMMENTS
/ ADDITIONAL INFORMATION
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This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.61.62 |
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1 |
Rs.99.12 |
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Euro |
1 |
Rs.78.89 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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.