MIRA INFORM REPORT

 

 

Report No. :

338285

Report Date :

28.08.2015

 

IDENTIFICATION DETAILS

 

Name :

ETS KISSIMA SYLLA

 

 

Registered Office :

Rue Fiad Herbe Bozla, B.P. 716,  Bamako

 

 

Country :

Mali

 

 

Date of Incorporation :

05.11.2012

 

 

Com. Reg. No.:

SD-582

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject operates as General Traders Dealing with FMCG Products, Bicycles, and Spare Parts.

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

 

MIRA’s Rating :

B

 

RATING

STATUS

PROPOSED CREDIT LINE

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

Small

 

Status :

Moderate

Payment Behaviour :

Slow but correct

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)

Mali

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MALI - ECONOMIC OVERVIEW

 

Among the 25 poorest countries in the world, Mali is a landlocked country that depends on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Economic activity is largely confined to the riverine area irrigated by the Niger River and about 65% of its land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Mali remains dependent on foreign aid. Industrial activity is concentrated on processing farm commodities. Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold, but the pace will largely depend on global price trends. The government is subsidizing the production of cereals to decrease the country’s dependence on imported foodstuffs and to reduce its vulnerability to food price shocks. The main threat to Mali’s economy is a return to physical insecurity. Other long term threats to the economy include high population growth, corruption, a weak infrastructure, and low levels of human capital. The administration’s purchase of a presidential jet for $40 million and inflated defense contracts damaged it’s credibility and led the IMF to temporarily suspend aid in 2014.

 

Source : CIA

 

 

Company name

 

 

Registered Name:

ETS KISSIMA SYLLA

Requested Name:

ETS KISSIMA SYLLA

Other Names:

None

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Rue Fiad Herbe Bozla

Postal Address:

B.P. 716,

 

Bamako

Country:

Mali

Phone:

223-20213489

Fax:

223-2219753

Email:

None

Website:

None

 

CREDIT OPINION

 

 

Financial Index as of December 2014 shows subject firm with a medium risk of credit.

 

LEGAL

 

 

Legal Form:

Sole proprietorship

Date Incorporated:

05-Nov-2012

Reg. Number:

SD-582

Nominal Capital

CFA. 500,000

Subscribed Capital

CFA. 500,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Kissima Sylla

MD

100%

 

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

Kissima Sylla

Shareholder of subject firm.

None

Branches of the firm

 

OPERATIONS

 

Registered to operate as general traders dealing with FMCG products, bicycles, spare parts.

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (30%) and 25-90 days (70%), invoices.

 

 

Main Customers:

Local agencies, general public

Employees:

10 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Mali

Location:

Rented premises, 5,000 square feet,

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

 

Currency Reported:

West African Franc (CFA.)

Approx. Ex. Rate:

1 US Dollar = 575.30 West African Franc

Fiscal Year End:

December 31, 2014

Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in CFA.)

 

 

2014

Sales

 

55,000,000

 

BANK

 

 

Bank Name:

BANQUE TOGOLAISE POUR COM BAMAKO

Branch:

Mali

Comments:

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

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.66.06

UK Pound

1

Rs.102.35

Euro

1

Rs.74.97

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

TPT

 

               

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

 

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

 

26-40

B

Capability to overcome financial difficulties seems comparatively below average.

 

Small

 

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

--

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.