MIRA INFORM REPORT

 

 

Report No. :

307050

Report Date :

11.02.2015

 

IDENTIFICATION DETAILS

 

Name :

LONI COMMERCIAL GENERAL IMPORT EXPORT

 

 

Registered Office :

Zone Industriel De Farcha, Rue De Brasserie, BP 983, Ndjamena

 

 

Country :

Chad

 

 

Date of Incorporation :

17.07.2008

 

 

Legal Form :

Limited Corporation

 

 

Line of Business :

Subject operates import, export and distribution of general merchandise such as hardware, FMCG products.

 

 

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 – December 31, 2014

 

Country Name

Previous Rating

(30.09.2014)

Current Rating

(31.12.2014)

Chad

C1

C1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

CHAD - ECONOMIC OVERVIEW

 

Oil and agriculture drive Chad’s economy. At least 80% of Chad's population relies for its livelihood on subsistence farming and livestock raising and oil provides the bulk of export revenues. Cotton, cattle, and gum arabic provide the bulk of Chad's non-oil export earnings. Remittances have also been an important source of income and Chad relies on foreign assistance and foreign capital for most public and private sector investment. Oil production came on stream in late 2003 and Chad began to export oil in 2004. Economic growth has been positive in recent years due to high oil prices and strong local harvests, but Chad’s fiscal situation is repeatedly exposed to declining oil prices and drought . Recently, the economy has been strained by the costs of repatriating Chadians fleeing the violence in South Sudan and the Central African Republic. Chad's investment climate remains challenging due to limited infrastructure, a lack of trained workers, extensive government bureaucracy, and corruption.

 

Source : CIA

 

 

Company name

 

 

Registered Name:

LONI COMMERCIAL GENERAL IMPORT EXPORT

Requested Name:

LONI COMMERCIAL GENERAL IMPORT EXPORT

Other Names:

None

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Zone Industriel De Farcha, Rue de brasserie

Postal Address:

BP 983

 

Ndjamena,

Country:

Tchad

Phone:

253-66294071/66246488

Fax:

253-66246488

Email:

None

Website:

None

 

CREDIT OPINION

 

 

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

 

LEGAL

 

 

Legal Form:

Limited Corporation 

Date Incorporated:

17-July-2008

Reg. Number:

Tchad

Nominal Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. R. Loni

Director

 

 

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

OPERATIONS

 

Registered to operate import, export and distribution of general merchandise such as hardware, FMCG products.

Imports:

Africa, Asia

Exports:

Neighboring countries

Trademarks:

None

Terms of sale:

Cash (40%) and 25-90 days (60%), invoices.

 

 

Main Customers:

Local agencies, stores,firms and organizations  

Employees:

10 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Tchad

Location:

Rented premises, 2,500 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 = 580.65 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

 

225,000,000

 

BANK

 

 

Bank Name:

Banque Tchadienne de Crédit et de Dépôt (BTCD)

Branch:

Tchad

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.61.96

UK Pound

1

Rs.94.41

Euro

1

Rs.70.20

 

 

INFORMATION DETAILS

 

Analysis Done by :

DIV

 

 

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.