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Report No. : |
351649 |
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Report Date : |
30.11.2015 |
IDENTIFICATION DETAILS
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Name : |
COMPAGNIE SUCRIERE SENGALAISE SA |
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Registered Office : |
Avenue Felix Edoue, Dakar, BP 2031, Dakar |
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Country : |
Senegal |
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Date of Incorporation : |
21.03.1970 |
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Com. Reg. No.: |
SNDKR70B57 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Manufacturer and
Distributors of Sugar, Molasses and Natural Sweeteners. |
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No. of Employees : |
80 Employees |
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Senegal |
B1 |
B1 |
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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 |
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: |
COMPAGNIE SUCRIERE
SENGALAISE SA |
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Requested Name: |
COMPAGNIE SUCRIERE SENGALAISE |
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Other Names: |
CSS |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Avenue
Felix Edoue, Dakar, |
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Postal Address: |
BP
2031 |
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Dakar, |
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Country: |
Senegal |
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Phone: |
221-33-9382323/ 9633320 |
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Fax: |
221-33-9633147 |
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Email: |
abdiouf.qualite@css.sn |
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Website: |
www.css.sn |
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LEGAL
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Legal Form: |
Societe Anonyme |
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Date Incorporated: |
21-March-1970 |
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Reg. Number: |
SNDKR70B57 |
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Nominal Capital |
CFA.
20,000,000 |
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Subscribed Capital |
CFA.
20,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Jean Claude
Mimran |
MD |
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Mr. Mamadou Sow |
Director |
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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 as
manufacturer and distributors of sugar, molasses and natural sweeteners |
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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, stores, outlets |
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Employees: |
80 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Senegal |
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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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5,000,000,000 |
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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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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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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
|
Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.66.75 |
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|
1 |
Rs.100.68 |
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Euro |
1 |
Rs.70.88 |
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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
: |
NIT |
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.