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Report No. : |
351244 |
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Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
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Name : |
MONDIAL CYCLES NOUVELLE (MCN) |
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Registered Office : |
9, Rue du Canal, Zone 3,Treichville, Abidjan, BP V 230 , Abidjan |
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Country : |
Cote
D’Ivoire (Ivory Coast) |
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Date of Incorporation : |
11.03.1999 |
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Com. Reg. No.: |
175589 Cote D’Ivoire (Ivory Coast) |
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Legal Form : |
Limited Corporation |
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LINE OF BUSINESS : |
SUBJECT OPERATE AS DISTRIBUTORS OF AGRICULTURAL
EQUIPMENT & PHYTO, CYCLES & PARTS, TIRES, TOOLS & BUILDING
MATERIALS |
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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Cote
D’Ivoire (Ivory Coast) |
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 |
COTE D’IVOIRE (IVORY COAST) - ECONOMIC
OVERVIEW
Cote d'Ivoire is heavily dependent on agriculture and
related activities, which engage roughly two-thirds of the population. Cote
d'Ivoire is the world's largest producer and exporter of cocoa beans and a
significant producer and exporter of coffee and palm oil. Consequently, the
economy is highly sensitive to fluctuations in international prices for these
products and in climatic conditions. Cocoa, oil, and coffee are the country's
top export revenue earners, but the country is also mining gold. The country
boasted two offshore oil finds in 2012. Following the end of more than a decade
of civil conflict in 2011, Cote d’Ivoire has experienced a boom in foreign
investment and economic growth. In June 2012, the IMF and the World Bank
announced $4.4 billion in debt relief for Cote d'Ivoire under the Highly
Indebted Poor Countries Initiative.
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Source
: CIA |
Company
Name
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Registered Name: |
MONDIAL CYCLES
NOUVELLE (MCN) |
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Requested Name: |
MONDIAL CYCLE NOUVELLE |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
9,
Rue du Canal, Zone 3,Treichville, Abidjan, |
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Postal Address: |
BP
V 230 |
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Abidjan,
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Country: |
Cote
D'Ivoire (Ivory Coast) |
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Phone: |
225-21259338/21754081/34714975 |
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Fax: |
225-21259339 |
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Email: |
rimco@yeshigroup.com/ info.ci@mcnci.com |
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Website: |
www.yeshigroup.com/ www.mcnci.com |
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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. However, bank
and credit information obtained reveal a history of prompt payments. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
11-March-1999 |
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Reg. Number: |
175589 Cote D’Ivoire (Ivory Coast) |
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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. Ali Fakih Oboungou |
Group
MD |
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Mr. Amin Alibhai |
Group
CFO |
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Mr. Yohannes Mekbebe |
Director |
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Mr. Gerard Malkoun |
Director |
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Mr. Konan Henri Kouadio |
Manager |
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Yeshi Group |
Holding
Co. |
100% |
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RELATED
COMPANIES
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Yeshi Group |
Parent company. |
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None |
Subsidiary company. |
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Submitted Below |
Affiliated companies. |
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None |
Shareholder of subject
firm. |
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Various in Cote D'Ivoire (Ivory Coast) |
Branches of the firm |
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OPERATIONS
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Registered to operate as
distributors of agricultural equipment & phyto, cycles & parts,
tires, tools & building materials |
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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: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Cote D’Ivoire (Ivory Coast) |
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Location: |
Leased premises, 10,000 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: |
West African Franc (CFA.) |
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Approx. Ex. Rate: |
1 US Dollar = 619.65 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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2,250,000,000 |
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BANK
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Bank Name: |
Bank
of Africa |
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Branch: |
Cote D’Ivoire (Ivory
Coast) |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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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AFFILIATED
COMPANIES
|
|
YESHI TRANSPORT |
|
MARIANNE TRADING PLC |
|
AALEMDESS PLC |
|
BERNABE CAMEROUN |
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BERNABE CONGO |
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BERNABE CÔTE D'IVOIRE |
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BERNABE GABON |
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BERNABE SÉNÉGAL |
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RIMCO 2 ROUES & PNEUMATIQUE |
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UNIVERSELLE INDUSTRIES SARL |
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SOTRALGA (GABON) |
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RIMCO MOTORS |
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RIMCO ELECTROMENAGER |
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RIM COMMERCE |
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TECHNIBAT |
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GALERIES PEYRISSAC CAMEROUN |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.55 |
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|
1 |
Rs.100.64 |
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Euro |
1 |
Rs.70.70 |
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West African Francs CFA |
1 |
Rs.0.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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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.