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Report No. : |
323437 |
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Report Date : |
26.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE BALAJI-SARLU |
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Registered Office : |
Kaloum Conakry |
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Country : |
Guinea |
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Date of Incorporation : |
12.09.2014 |
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Com. Reg. No.: |
RCCM/GCM/GC-KAL/054.892A/2014 |
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Legal Form : |
Societe Anonyme Responsabilitee Limitee Unipersonelle |
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Line of Business : |
Subject Operate Scrap Metal
Business |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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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Guinea |
C1 |
C1 |
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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 |
GUINEA - ECONOMIC OVERVIEW
Guinea is a poor country that possesses major mineral,
hydropower, solar power, and agricultural resources. Historically Guinea was an
exporter of agricultural commodities, but it has shifted to importing many food
crops. Gold, bauxite, alumina, and diamonds are Guinea’s main mineral exports.
Guinea has the largest reserves of bauxite in the world. Following the death of
long-term President Lansana CONTE in a 2008 coup, international donors,
including the G-8, the IMF, and the World Bank, significantly curtailed their
development programs in Guinea, but the IMF approved a new 3-year Extended
Credit Facility (ECF) arrangement in 2012, following the December 2010
presidential elections. In September 2012, Guinea achieved Heavily Indebted
Poor Countries (HIPC) completion point status. Future access to international
assistance and investment will depend on the government’s ability to be
transparent, combat corruption, reform its banking system, improve its business
environment, and build infrastructure. In April 2013 the government amended its
mining code to reduce taxes and royalties. In 2014 Guinea complied with
requirements of the Extractive Industries Transparency Initiative by publishing
its mining contracts. International investors have shown interest in Guinea's
unexplored mineral reserves, which have the potential to propel Guinea's future
growth. The biggest threats to Guinea’s economy are political instability, the
continuation of the Ebola epidemic, and low international commodity prices.
Rising international donor support and reduced government investment spending
will lessen fiscal strains created by the Ebola epidemic, but economic recovery
will be a long process while the government continues to fight the disease.
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Source
: CIA |
Company
Name
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Registered Name: |
SOCIETE
BALAJI-SARLU |
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Requested Name: |
BALAJI SARLU |
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Trade Names: |
BALAJI SARLU |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Kaloum
Conakry, |
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Country: |
Guinea |
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Phone: |
224-622774186/657952615/657573609 |
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Fax: |
224-622774186 |
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Email: |
None |
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Website: |
None |
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CREDIT
OPINION
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Projected Financial Index
as of December 2015 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: |
12-Sept-2014 |
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Reg. Number: |
RCCM/GCM/GC-KAL/054.892A/2014 |
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Nominal Capital |
GNF.
10,000,000 |
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Subscribed Capital |
GNF.
10,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Mugrai Sachin |
MD |
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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 scrap
metal business |
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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: |
5 employees. |
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Vehicles: |
2 motor vehicles. |
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Territory of sales: |
Guinea |
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Location: |
Rented premises, 1,500 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: |
Guinean Franc (GNF.) |
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Approx. Ex. Rate: |
1 US Dollar = 7424.73
Guinean Franc |
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Projected Fiscal Year
End: |
December 31, 2015 |
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Projected Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2015 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in GNF.) |
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2015 |
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Projected Sales |
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10,000,000 |
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BANK
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Bank Name: |
Société
Générale de Banque en Guinée (SGBG) |
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Branch: |
Guinea |
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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 |
|
US Dollar |
1 |
Rs.63.62 |
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|
1 |
Rs.98.51 |
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Euro |
1 |
Rs.69.93 |
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.