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Report No. : |
338104 |
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Report Date : |
01.09.2015 |
IDENTIFICATION DETAILS
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Name : |
AVL & SONS BENIN SARL |
|
|
|
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Registered Office : |
CD C/1800 Tidjrose, Cotonou |
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|
|
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Country : |
Benin |
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|
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Date of Incorporation : |
17.06.2007 |
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|
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Legal Form : |
Societe Anonyme Responsabilitee Limitee |
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|
|
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Line of Business : |
Subject operate in the
farming industry |
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|
|
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No. of Employees : |
25 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
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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|
|
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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) |
|
Benin |
B2 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
BENIN - ECONOMIC OVERVIEW
The economy of Benin remains underdeveloped and dependent on
subsistence agriculture, cotton production, and regional trade. Growth in real output
had averaged almost 4% before the global recession and it has exceeded that
level in 2013-14. Inflation has subsided over the past several years. In order
to raise growth, Benin plans to attract more foreign investment, place more
emphasis on tourism, facilitate the development of new food processing systems
and agricultural products, and encourage new information and communication
technology. Specific projects to improve the business climate by reforms to the
land tenure system, the commercial justice system, and the financial sector
were included in Benin's $307 million Millennium Challenge Account grant signed
in February 2006. The 2001 privatization policy continues in
telecommunications, water, electricity, and agriculture. An insufficient electrical
supply continues to hamper Benin's economic growth though the government
recently has taken steps to increase domestic power production. Private foreign
direct investment is small, and foreign aid accounts for the majority of
investment in infrastructure projects. Cotton, a key export, suffered from
flooding in 2010-11, but high prices supported export earnings. Benin has
appealed for international assistance to mitigate piracy against commercial
shipping in its territory. In 2012, Benin became eligible for a second Compact
under the Millennium Challenge Corporation, which is expected to be signed in
2015.
|
Source
: CIA |
|
Registered Name: |
AVL & SONS
BENIN SARL |
|
Requested Name: |
AVL & SONS BENIN SARL |
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Other Names: |
None |
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Physical Address: |
CD
C/1800 Tidjrose |
|
|
Cotonou |
|
Country: |
Benin |
|
Phone: |
229-21031887 |
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Fax: |
229-21031887 |
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Email: |
None |
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Website: |
None |
|
Legal Form: |
Societe Anonyme Responsabilitee
Limitee |
|
|
Date Incorporated: |
17-June-2007 |
|
|
Reg. Number: |
Benin |
|
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Nominal Capital |
CFA.
1,000,000 |
|
|
Subscribed Capital |
CFA.
1,000,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Latifou Victorien Akelemon |
MD |
100% |
|
Mr. Marius Ayena |
Director |
|
|
Mr. Mayeul Agbo |
Manager |
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
Mr. Latifou Victorien
Akelemon |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
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Registered to operate in
the farming industry |
|
|
Imports: |
Asia |
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Exports: |
None |
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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: |
Local agencies, etc |
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Employees: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Benin |
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Location: |
Leased premises, 5,000 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.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 570.10 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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||
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Financial Information not
Submitted |
|
|
|
|
|
|
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Profit and Loss
(expressed in CFA.) |
||
|
|
|
2014 |
|
Sales |
|
625,000,000 |
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Bank Name: |
Société
Générale de Banques au Bénin |
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Branch: |
Benin |
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Comments: |
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.66.26 |
|
|
1 |
Rs.101.99 |
|
Euro |
1 |
Rs.74.79 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.