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Report No. : |
325571 |
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Report Date : |
09.06.2015 |
IDENTIFICATION DETAILS
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Name : |
GULABDAS & COMPANY |
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Registered Office : |
Immeuble Sarigne Absoul Aziz SY Guele Tapee X Rue 18 BLS En Face Score Sahm Apartment No 204 Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
06.07.2009 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operate as general traders dealing with FMCG products |
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No of Employees : |
10 employees |
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 – December 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Senegal |
B1 |
B1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
D |
SENEGAL ECONOMIC OVERVIEW
Senegal’s economy is driven by mining, construction, tourism, fisheries and agriculture which is the primary source of employment in rural areas. The country's key export industries include phosphate mining, fertilizer production, agricultural products and commercial fishing and it is also working on oil exploration projects. Senegal relies heavily on donor assistance, remittances and foreign direct investment. President Macky SALL, who was elected in March 2012 under a reformist policy agenda, inherited an economy with high energy costs, a challenging business environment, and a culture of overspending. Senegal received technical support from the IMF in 2010-2014 under a Policy Support Instrument to assist economic reform through sound macroeconomic and fiscal policies to reduce the fiscal deficit, increase transparency and facilitate private investment. President Sall unveiled an ambitious economic plan, the Emerging Senegal Plan, which aims to implement priority economic reforms and investment projects to increase economic growth. Bureaucratic bottlenecks and a challenging business climate are among the perennial challenges that may slow the implementation of this plan. Investors have signaled confidence in the country through Senegal’s successful Eurobond issuances in recent years, including in 2014.
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Source
: CIA |
SUBJECT'S
NAME
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Registered Name: |
GULABDAS &
COMPANY |
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Requested Name: |
GULABDAS OVERSEAS |
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Other Names: |
None |
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_______________________________________________________________________ |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Immeuble Sarigne Absoul Aziz SY Guele Tapee X
Rue 18 BLS En Face Score Sahm Apartment No 204 |
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Dakar |
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Country: |
Senegal |
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Phone: |
221-775697077 |
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Fax: |
221-775697077 |
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Email: |
None |
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Website: |
None |
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_______________________________________________________________________ |
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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. We recommend
Secured Credit. |
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_______________________________________________________________________ |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
06-July-2009 |
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Reg. Number: |
Senegal |
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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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P. Gulabdas |
Director |
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Sanjay Trivedi |
Manager |
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_______________________________________________________________________ |
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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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___________________________________________________________________________ |
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OPERATIONS
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Registered to operate as
general traders dealing with FMCG products etc |
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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: |
Local agencies etc |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Senegal |
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Location: |
Rented premises, 5,000 square feet |
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_______________________________________________________________________ |
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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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_______________________________________________________________________ |
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FINANCE
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Currency Reported: |
West African Franc (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 584.74 West
African Franc |
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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 CFA.) |
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2014 |
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Sales |
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65,000,000 |
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_______________________________________________________________________ |
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BANK
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Bank Name: |
ECOBANK |
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Branch: |
Senegal |
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Comments: |
None |
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_______________________________________________________________________ |
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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. 64.11 |
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1 |
Rs. 97.84 |
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Euro |
1 |
Rs. 71.11 |
INFORMATION DETAILS
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Analysis Done by
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KRN |
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Report Prepared
by : |
DPT |
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 |
-- |
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.