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Report No. : |
318877 |
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Report Date : |
25.04.2015 |
IDENTIFICATION DETAILS
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Name : |
PROMETAL SARL |
|
|
|
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Registered Office : |
Zone Industrielle Bassa, Magzi, Douala, BP 3061, Douala |
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Country : |
Cameroon |
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Date of Incorporation : |
14.03.2009 |
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Legal Form : |
Societe Anonyme Responsabilitee Limitee |
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Line of Business : |
Dealers in Metal
Products. |
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|
|
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No. of Employees : |
40 Employees |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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) |
|
Cameroon |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CAMEROON - ECONOMIC OVERVIEW
Because of its modest oil resources and favorable
agricultural conditions, Cameroon has one of the best-endowed primary commodity
economies in sub-Saharan Africa. Still, it faces many of the serious problems confronting
other underdeveloped countries, such as stagnant per capita income, a
relatively inequitable distribution of income, a top-heavy civil service,
endemic corruption, and a generally unfavorable climate for business
enterprise. Since 1990, the government has embarked on various IMF and World
Bank programs designed to spur business investment, increase efficiency in
agriculture, improve trade, and recapitalize the nation's banks. The IMF is
pressing for more reforms, including increased budget transparency,
privatization, and poverty reduction programs. Subsidies for electricity, food,
and fuel have strained the budget. Cameroon has several large infrastructure
projects under construction, including a deep sea port in Kribi and the Lom
Pangar Hydropower Project. It also recently opened a natural gas powered
electricity generating plant. Cameroon must attract more investment to improve
its inadequate infrastructure, but its unfavorable business environment is a
deterrent to foreign investment.
|
Source
: CIA |
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Registered Name: |
PROMETAL SARL |
|
Requested Name: |
PROMETAL SARL |
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Other Names: |
PROMETAL - COMPAGNIE DES PRODUITS METALLIQUES |
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Physical Address: |
Zone
Industrielle Bassa, Magzi, Douala |
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Postal Address: |
BP
3061 |
|
|
Douala |
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Country: |
Cameroon |
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Phone: |
237-33378585/95 |
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Fax: |
237-33378580 |
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Email: |
info@prometal-cm.com |
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Website: |
None |
|
Legal Form: |
Societe Anonyme Responsabilitee
Limitee |
|
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Date Incorporated: |
14-March-2009 |
|
|
Reg. Number: |
Cameroon |
|
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Nominal Capital |
CFA.
1,000,000 |
|
|
Subscribed Capital |
CFA.
1,000,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
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|
Position |
Shares |
|
Mr. Ercument Uslu |
GM |
|
|
Mr. Louis Dipoko |
Manager |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
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Registered to operate as
dealers in metal products |
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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 (60%) and 25-90 days (40%), invoices. |
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Main Customers: |
Industries, firms and organizations |
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Employees: |
40 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Cameroon |
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Location: |
Leased premises, 5,000 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 = 608.95 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 |
|
Sales |
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150,000,000 |
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|
|
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Bank Name: |
United
Bank for Africa |
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Branch: |
Cameroon |
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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.63.40 |
|
|
1 |
Rs.95.42 |
|
Euro |
1 |
Rs.68.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
NIT |
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 |
|
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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 |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.