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Report No. : |
317183 |
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Report Date : |
18.04.2015 |
IDENTIFICATION DETAILS
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Name : |
BENSON ASSOCIATE COMPANY LTD |
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Registered Office : |
Import
/ Export Commerce General Quater Hedzranawoe Rue Assiyeye, BP 3826, Lome |
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Country : |
Togo |
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Date of Incorporation : |
10.04.2012 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operates as general
traders dealing with import, export and supply of foot wear, leather bags. |
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No. of Employees : |
15 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Togo |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TOGO - ECONOMIC OVERVIEW
This small, sub-Saharan economy depends heavily on both
commercial and subsistence agriculture, which provides employment for a
significant share of the labor force. Some basic foodstuffs must still be
imported. Cocoa, coffee, and cotton generate about 40% of export earnings with
cotton being the most important cash crop. Togo is among the world's largest
producers of phosphate and Togo seeks to develop its carbonate phosphate
reserves. The government's decade-long effort, supported by the World Bank and the
IMF, to implement economic reform measures, encourage foreign investment, and
bring revenues in line with expenditures has moved slowly. Progress depends on
follow through on privatization, increased openness in government financial
operations, progress toward legislative elections, and continued support from
foreign donors. Foreign direct investment inflows have slowed over recent
years. Togo completed its IMF Extended Credit Facility in 2011 and reached a
HIPC debt relief completion point in 2010 at which 95% of the country's debt
was forgiven. Togo continues to work with the IMF on structural reforms.
|
Source
: CIA |
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Registered Name: |
BENSON ASSOCIATE
COMPANY LTD |
|
Requested Name: |
BENSON ASSOCIATE COMPANY LTD |
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Other Names: |
None |
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Physical Address: |
Import/
Export Commerce General Quater Hedzranawoe Rue Assiyeye |
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Postal Address: |
BP
3826 |
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|
Lome, |
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Country: |
Togo |
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Phone: |
228-598411128/90038554 |
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Fax: |
228-522222252 |
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Email: |
benson.associate.company@gmail.com |
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Website: |
None |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
10-April-2012 |
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Reg. Number: |
Togo |
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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. Amogu Chigozie Agbai |
MD |
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Mrs. Mercy Agbai |
Director |
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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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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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Registered to operate as
general traders dealing with import, export and supply of foot wear, leather
bags. |
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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: |
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: |
Togo |
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Location: |
Leased premises, 10,000 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: |
West African Franc (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 620.05 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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50,000,000 |
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Bank Name: |
Banque
Atlantique Togo |
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Branch: |
Togo |
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Comments: |
None |
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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.62.35 |
|
|
1 |
Rs.93.10 |
|
Euro |
1 |
Rs.67.13 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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|
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
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 |
|
|
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.