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Report No. : |
352392 |
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Report Date : |
01.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SK TRADING SARLU |
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Registered Office : |
Lot
Li 154 Bis Anjanahary, P. o. Box Antananarivo |
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Country : |
Madagascar
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Date of Incorporation : |
11.07.2013 |
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Legal Form : |
Societe Anonyme
Responsabilitee Limitee Unipersonelle |
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Line of Business : |
Subject operate
activities related to financial investments, agribusiness, export of scrap metal,
used batteries, mining, import export of stones, collection and export of
local products. Import and sale of equipment and building materials,
communication, textile products, novelties, MG, Operations and pine wood
export. |
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No. of Employees : |
15 |
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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Madagascar |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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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 |
MADAGASCAR - ECONOMIC OVERVIEW
After discarding socialist economic policies in the
mid-1990s, Madagascar followed a World Bank- and IMF-led policy of privatization
and liberalization until the onset of a political crisis , which lasted from
2009-2013 . The free market strategy had previously placed the country on a
slow and steady growth path from an extremely low starting point. Exports of
apparel boomed after gaining duty-free access to the US in 2000; however,
Madagascar's failure to comply with the requirements of the African Growth and
Opportunity Act (AGOA) led to the termination of the country's duty-free access
in January 2010, a sharp fall in textile production, and a loss of more than
100,000 jobs; Madagascar regained AGOA access in January 2015 following the
democratic election of a new President the previous year. Agriculture,
including fishing and forestry, is a mainstay of the economy, accounting for
more than one-fourth of GDP and employing roughly 80% of the population.
Deforestation and erosion, aggravated by the use of firewood as the primary
source of fuel, are serious concerns. Many investors remain wary of investing
for fear of a return to political instability in the country and because of
weaknesses in the business environment. Expansion in mining and agricultural
sectors contributed to growth in 2014. International organizations and foreign
donors resumed development aid to Madagascar after RAJAONARIMAMPIANINA
appointed a new government in mid-2014, however full-scale assistance will
require further policy reforms, particularly on addressing rampant corruption.
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Source
: CIA |
Company
name
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Registered Name: |
SK TRADING SARLU |
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Requested Name: |
SK TRADING SARLU |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Lot
Li 154 Bis Anjanahary |
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Postal Address: |
P.
o. Box |
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Antananarivo |
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Country: |
Madagascar |
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Phone: |
261-2243864 |
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Fax: |
261-2243864 |
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Email: |
None |
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Website: |
None |
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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: |
Societe Anonyme
Responsabilitee Limitee Unipersonelle |
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Date Incorporated: |
11-July-2013 |
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Reg. Number: |
Madagascar |
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Nominal Capital |
MGA.
4,000,000 |
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Subscribed Capital |
MGA.
4,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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A. Ramanarivo |
GM |
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RELATED
COMPANIES
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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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OPERATIONS
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Registered to operate
activities related to financial investments, agribusiness, export of scrap metal,
used batteries, mining, import export of stones, collection and export of
local products. Import and sale of equipment and building materials,
communication, textile products, novelties, MG, Operations and pine wood
export |
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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: |
Madagascar |
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Location: |
Leased premises, 5,000 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: |
Madagascar Ariary (MGA.) |
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Approx. Ex. Rate: |
1 US Dollar = 3293.15
Madagascar Ariary |
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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 MGA.) |
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2014 |
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Sales |
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520,000,000 |
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BANK
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Bank Name: |
BFV-Societe
Generale |
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Branch: |
Madagascar |
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Comments: |
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.66.81 |
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|
1 |
Rs.100.36 |
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Euro |
1 |
Rs.70.68 |
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MGA |
1 |
Rs.0.015 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
TPT |
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 |
-- |
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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.