Amended report
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Report No. : |
300184.3 |
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Report Date : |
20.02.2015 |
IDENTIFICATION DETAILS
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Name : |
SAGA SARL |
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Formerly Known As : |
SAGA SPRL |
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Registered Office : |
Blv
Du 30, BCDC, 9Eme Niveau Commune De la
Gombe, |
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Country : |
Democratic |
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Year of Establishments : |
1995 |
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Com. Reg. No.: |
14-B-2115 |
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Legal Form : |
Societe Anonyme Responsibilitee Limitee |
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Line of Business : |
·
SUBJECT OPERATE SHIPPING, LOGISTICS AND MATERIALS HANDLING
(FRom registry record) Subject operate in mining and exploration of diamond
(claimed by management but cannot be confirmed from any sources) |
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No of Employees : |
150 |
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` |
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Democratic Republic of Congo |
C1 |
C1 |
|
Risk Category |
ECGC Classification |
|
Insignificant |
A1 |
|
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 |
Democratic
Republic of Congo ECONOMIC OVERVIEW
The economy of the Democratic
Republic of the Congo - a nation endowed with vast natural resource wealth - is
slowly recovering after decades of decline. Systemic corruption since
independence in 1960, combined with country-wide instability and conflict that
began in the mid-90s has dramatically reduced national output and government
revenue and increased external debt. With the installation of a transitional
government in 2003 after peace accords, economic conditions slowly began to
improve as the transitional government reopened relations with international
financial institutions and international donors, and President KABILA began
implementing reforms. Progress has been slow to reach the interior of the
country although clear changes are evident in Kinshasa and Lubumbashi. An
uncertain legal framework, corruption, and a lack of transparency in government
policy are long-term problems for the mining sector and for the economy as a
whole. Much economic activity still occurs in the informal sector and is not
reflected in GDP data. Renewed activity in the mining sector, the source of
most export income, has boosted Kinshasa's fiscal position and GDP growth in
recent years. The global recession cut economic growth in 2009 to less than
half its 2008 level, but growth returned to around 7% per year in 2010-12. The
DRC signed a Poverty Reduction and Growth Facility with the IMF in 2009 and
received $12 billion in multilateral and bilateral debt relief in 2010, but the
IMF at the end of 2012 suspended the last three payments under the loan facility
- worth $240 million - because of concerns about the lack of transparency in
mining contracts. In 2012, the DRC updated its business laws by adhering to
OHADA, the Organization for the Harmonization of Business Law in Africa. The
country marked its tenth consecutive year of positive economic expansion in
2012.
|
Source
: CIA |
Registered Name: SAGA SARL
Requested Name: SAGA
SPRL
Former Names: SAGA
SPRL
Physical Address: Blv Du 30, BCDC, 9Eme Niveau Commune De la Gombe, Kinshasa
Postal Address: B.P. 8834
Kinshasa
Country: Democratic Republic Of Congo
Phone: 243-999992268/815169685/8919500/8841533/
999001428/976092300
Fax: 243-815169685/8841533
Email: saga.sprl@gmail.com
Website: None
Financial
Index as of December 2013 shows subject firm with a medium risk of credit.
Legal Form: Societe Anonyme Responsibilitee Limitee
Date Incorporated: 1995
Reg. Number: 14-B-2115
Tax Number: A0806864W
National ID: 128N60100Z
Nominal Capital CFA. 1,000,000
Subscribed Capital CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Francois Kaniki
Ituome Chairman
Mr. Dominique
Lafont CEO
Mr. Rodolphe Kembukuswa
Diwa MD
Mr. Raja Kumar Director
Mr. Riad Abdoul Hassan Director
Mr. Patrick
Gerenthon Director
Mr. Benoit Kapila Director
Mr. Michel Roussin Director
Mr. Olivier
Roussel Director
Mr. Martine Studer Director
SAGA FRANCE Holding Co. 100%
SAGA FRANCE Parent company.
None Subsidiary company.
Various worldwide Affiliated company.
None Shareholder of subject firm.
Lubumbashi,
Matadi, Moanda, Région Kivu, Kolwezi, Kasumbalesa, Boma in Democratic Republic Of Congo Branches of the firm
·
Subject operate Shipping, Logistics and Materials Handling (From Registry Record)
Subject operate in mining and exploration of diamond
(claimed by management but cannot be confirmed from
any sources)
Imports: Asia,
Europe
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: firms
and organizations
Employees: 150
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Democratic Republic Of Congo
Location: Owned
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: West African Franc (CFA.)
Approx. Ex. Rate: 1 US Dollar = 531.96 West African Franc
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in CFA.)
2013
Sales 4,500,000,000
Bank Name: Rawbank Kinshasa DRC
Account Number 0100188401-45 USD
Branch: Democratic Republic Of Congo
Comments: None
Experiences: Good
None
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.62.25 |
|
UK Pound |
1 |
Rs.95.57 |
|
Euro |
1 |
Rs.71.01 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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 |
|
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.