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Report No. : |
300184.2 |
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Report Date : |
23.01.2015 |
IDENTIFICATION DETAILS
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Correct 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, Kinshasa B.P. 8834 Kinshasa Democratic Republic Of Congo |
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Country : |
Congo |
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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 Privee Responsibilitee Limitee |
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LINE OF BUSINESS : |
SUBJECT
OPERATE SHIPPING, LOGISTICS AND
MATERIALS HANDLING |
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No. of Employees : |
150 |
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 – September 30, 2014
|
Country Name |
Previous Rating (30.06.2014) |
Current Rating (30.09.2014) |
|
Democratic Republic of Congo |
C1 |
C1 |
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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
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Source
: CIA |
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SUBJECT'S NAME |
|
|
Correct Name: |
SAGA SARL |
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Previous
Name |
SAGA SPRL |
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Requested Name: |
SAGA SPRL |
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Other Names: |
None |
Note:
The name of the Subject company has been changed from SAGA SPRL to SAGA SARL.
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Physical Address: |
Blv Du 30, BCDC,
9Eme Niveau Commune De la Gombe, Kinshasa
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Postal Address: |
B.P. 8834 |
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Kinshasa |
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Country: |
Democratic Republic Of Congo |
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Phone: |
243-999992268/815169685/8919500/8841533/ 999001428 |
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Fax: |
243-815169685/8841533 |
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Email: |
sdv.katanga@bollore.com/ customerservice.kinshasa@bollore.com/ sales.katanga @ bollore.com |
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Website: |
www.saga.fr |
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Legal Form: |
Societe Privee Responsibilitee Limitee |
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Date Incorporated: |
1995 |
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Reg. Number: |
14-B-2115 |
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Tax
Number: |
A0806864W |
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Nominal Capital |
CFA. 1,000,000 |
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Subscribed Capital |
CFA. 1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. François Kaniki Ituome |
Chairman |
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Mr. Dominique Lafont |
CEO |
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Mr. Rodolphe Kembukuswa Diwa |
MD |
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Mr. Riad Abdoul Hassan |
Director |
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Mr. Patrick Gerenthon |
Director |
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Mr. Benoit Kapila |
Director |
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Mr. Michel Roussin |
Director |
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Mr. Olivier Roussel |
Director |
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Mr. Martine Studer |
Director |
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SAGA FRANCE |
Holding
Co. |
100% |
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SAGA FRANCE |
Parent company. |
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None |
Subsidiary company. |
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Various worldwide |
Affiliated company. |
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None |
Shareholder of subject firm. |
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Lubumbashi, Matadi, Moanda, Région Kivu, Kolwezi, Kasumbalesa, Boma in Democratic Republic Of Congo |
Branches of the firm |
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Registered to operate shipping, logistics and materials handling |
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Imports: |
Asia, Europe |
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Exports: |
Neighboring countries |
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Trademarks: |
None |
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Terms of sale: |
Cash (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
150 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Democratic Republic Of Congo |
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Location: |
Owned premises, 10,000 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 = 531.96 West African Franc |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation at December 31st, 2013 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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2013 |
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Sales |
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4,500,000,000 |
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Bank Name: |
Rawbank Kinshasa DRC |
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Account
Number |
0100188401-45 USD |
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Branch: |
Democratic Republic Of Congo |
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Comments: |
None |
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Experiences: |
Good |
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.61.69 |
|
|
1 |
Rs.93.33 |
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Euro |
1 |
Rs.71.49 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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Report Prepared
by : |
MNL |
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.