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Report No. : |
336238 |
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Report Date : |
18.08.2015 |
IDENTIFICATION DETAILS
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Name : |
FILATURE TISSAGE SACS COTE D IVOIRE (FILTISAC) SA |
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Registered Office : |
Une Realization IPS West Africa, KM 8, Route D'Adzope Abidjan, BP. 3962, Abidjan 01 |
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Country : |
Cote D’Ivoire |
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Date of Incorporation : |
01.05.1965 |
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Com. Reg. No.: |
CI-ABJ-1965-B-4412 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Manufacture and
distribution of textile & jute bags for export of cocoa and coffee and
also packaging services and solutions for storage, transport and handling of
products. |
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No. of Employees : |
2500 Employees. |
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Cote D’Ivoire |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
|
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 |
COTE D’IVOIRE - 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 mining gold. The country boasted two
offshore oil finds in 2012. Following the end of more than a decade of civil
conflict in 2011, Cote d’Ivoire has experienced a boom in foreign investment
and 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.
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Source
: CIA |
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Registered Name: |
FILATURE TISSAGE
SACS COTE D IVOIRE (FILTISAC) SA |
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Requested Name: |
FILTISAC S.A. |
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Other Names: |
None |
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Physical Address: |
Une
Realization IPS West Africa, KM 8, Route D'Adzope Abidjan, |
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Postal Address: |
BP.
3962, |
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|
Abidjan
01 |
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Country: |
Cote
D'Ivoire |
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Phone: |
225-20-304600/30304601/304625/6000/372363/
371260/20304602/20304607/20304677/20371063 |
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Fax: |
225-20-304646/20304600/372388/30461/2304646/ 304611/20304612/20304675 |
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Email: |
info@filtisac.com |
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Website: |
www.filtisac.com |
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Legal Form: |
Societe Anonyme |
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Date Incorporated: |
01-May-1965 |
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Reg. Number: |
CI-ABJ-1965-B-4412 |
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Tax Number: |
0105274 |
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Nominal Capital |
CFA.
8,814,837,500 |
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Subscribed Capital |
CFA.
8,814,837,500 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Yves Roland |
Chairman |
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Mr. André Froissard |
MD |
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Mr. Lassina Keita |
Director |
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Mr. Kamel Kone |
Director |
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Mr. Christian Godde |
Director |
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Mr. Lassina Keita |
Director |
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Mr. Mahamadou Sylla |
Director |
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Mr. Mahmoud Rajan |
Director |
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Mrs. Aïssata Doucoure |
Director |
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Mrs. Eri Hélène N'goran |
Director |
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Mr. Severin Aka Nzébo |
Director |
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Mr. Lutaf Kassam |
Director |
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Mr. Ibrahim Charles Amadou |
Director |
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Mr. Aziz Kassam |
Director |
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Société AKFED (Aga Khan fund for economic development) |
Shareholder |
33.33% |
|
Societe IPS (WA) Cote D’Ivoire |
Shareholder |
33.33% |
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AKA INVESTMENT TRUST |
Shareholder |
33.34% |
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None |
Parent company. |
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None |
Subsidiary company. |
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In Senegal, Burkina-Faso, Mali and France |
Affiliated companies. |
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Société AKFED (Aga Khan
fund for economic development), Societe IPS (WA) Cote
D’Ivoire, AKA INVESTMENT TRUST. |
Shareholders of subject
firm. |
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None |
Branches of the firm |
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Registered to operate as manufacture
and distribution of textile & jute bags for export of cocoa and
coffee and also packaging services and
solutions for storage, transport and handling of products |
|
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Imports: |
Asia |
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Exports: |
Worldwide |
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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: |
2500 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Cote D’Ivoire |
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Location: |
Owned premises, 100,000 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 = 590.95 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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35,000,000,000 |
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Bank Name: |
Societe
Generale de Banques (SGB) Bank |
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Branch: |
Cote D’Ivoire |
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Comments: |
None |
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Experiences: |
Good |
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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.65.22 |
|
|
1 |
Rs.102.23 |
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Euro |
1 |
Rs.72.39 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAS |
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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 |
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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 |
-- |
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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.