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Report No. : |
316509 |
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Report Date : |
11.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MONDIAL CYCLE NOUVELLES |
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Registered Office : |
9 Rue du Canal, 01 BP 232 Abidjan 01 |
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Country : |
Cote D'Ivoire (Ivory Coast) |
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Date of Incorporation : |
02.07.1979 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Dealers uin motor cycles, spare parts and related accessories |
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No of Employees : |
15 |
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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Cote D’Ivoire (Ivory Coast) |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
COTE D’IVOIRE
(IVORY COAST) ECONOMIC OVERVIEW
Cote d'Ivoire is heavily dependent on agriculture and related activities, which engage roughly two-thirds of the population. Cote d'Ivoire is the world's largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil. Consequently, the economy is highly sensitive to fluctuations in international prices for these products and in climatic conditions. Cocoa, oil, and coffee are the country's top export revenue earners, but the country is also producing gold. The country also produces oil and boasted two offshore oil finds in 2012. Since the end of the civil war in 2003, political turmoil has continued to damage the economy, resulting in the loss of foreign investment and slow economic growth. In June 2012, the IMF and the World Bank announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly Indebted Poor Countries Initiative. Cote d'Ivoire's long-term challenges include political instability and degrading infrastructure.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
MONDIAL CYCLE
NOUVELLES |
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Requested Name: |
MONDIAL CYCLE NOUVELLES |
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Other Names: |
MONDIAL CYCLES NOUVELLE (MCN) |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
9
Rue du Canal |
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Postal Address: |
01
BP 232 |
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Abidjan
01 |
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Country: |
Cote D'Ivoire (Ivory Coast) |
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Phone: |
225-21259338/257263 |
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Fax: |
225-21259339 |
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Email: |
mcn@yeshigroup.com |
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Website: |
www.yeshigroup.com |
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CREDIT
OPINION
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Financial Index as of
December 2014 shows subject firm with a medium risk of credit. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
02-July-1979 |
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Reg. Number: |
Cote D’Ivoire (Ivory Coast) |
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Nominal Capital |
CFA.
1,000,000 |
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Subscribed Capital |
CFA.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Ali Beydoun |
MD |
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Mr. Yohannes Mekbebe |
Manager |
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Mr. Konan henri Kouadio |
Manager |
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Yeshi Group |
Holding
Co. |
100% |
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RELATED
COMPANIES
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Yeshi Group |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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OPERATIONS
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Registered to operate as
dealers uin motor cycles, spare parts and related accessories |
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Imports: |
Asia |
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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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Main Customers: |
General Public, firms and organizations |
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Employees: |
15 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Cote D’Ivoire (Ivory Coast) |
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Location: |
Leased premises, 10,000 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 = 620.59 West
African Franc |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss (expressed
in CFA.) |
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2014 |
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Sales |
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550,000,000 |
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BANK
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Bank Name: |
ECOBANK |
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Branch: |
Cote
D’Ivoire (Ivory Coast) |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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_______________________________________________________________________ |
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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. 62.36 |
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1 |
Rs. 91.60 |
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Euro |
1 |
Rs. 66.48 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
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.