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Report No. : |
306177.2 |
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Report Date : |
15.09.2015 |
IDENTIFICATION DETAILS
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Name : |
ARAU PHAR |
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Registered Office : |
7156,
General Bobozo, Kingabwa, Limete, Kinshasa, Kinshasa, Democratic
Republic Of Congo |
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Country : |
Congo |
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Date of Incorporation : |
2005 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate as
importers of pharmaceuticals and cosmetic products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – March 31, 2015
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Congo |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
CONGO - ECONOMIC OVERVIEW
The economy of the Democratic Republic of the Congo - a
nation endowed with vast natural resource wealth - is slowly recovering after
decades of decline. Systemic corruption since independence in 1960, combined
with countrywide instability and conflict that began in the mid-90s has
dramatically reduced national output and government revenue and increased
external debt. With the installation of a transitional government in 2003 after
peace accords, economic conditions slowly began to improve as the transitional
government reopened relations with international financial institutions and
international donors, and President KABILA began implementing reforms. Progress
has been slow to reach the interior of the country although clear changes are
evident in Kinshasa and Lubumbashi. Renewed activity in the mining sector, the
source of most export income, has boosted Kinshasa's fiscal position and GDP
growth in recent years. An uncertain legal framework, corruption, and a lack of
transparency in government policy are long-term problems for the large mining
sector and for the economy as a whole. Much economic activity still occurs in
the informal sector and is not reflected in GDP data. The DRC signed a Poverty
Reduction and Growth Facility with the IMF in 2009 and received $12 billion in
multilateral and bilateral debt relief in 2010, but the IMF at the end of 2012
suspended the last three payments under the loan facility - worth $240 million
- because of concerns about the lack of transparency in mining contracts. In
2012, the DRC updated its business laws by adhering to OHADA, the Organization
for the Harmonization of Business Law in Africa. The country marked its twelfth
consecutive year of positive economic expansion in 2014.
|
Source
: CIA |
Company
Name
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Registered Name: |
ARAU PHAR |
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Requested Name: |
ARAU PHAR |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
7156,
General Bobozo,Kingabwa, Limete,Kinshasa |
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Kinshasa |
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Country: |
Democratic Republic Of Congo |
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Phone: |
243-818001388 |
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Fax: |
243-818001388 |
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Email: |
arauphardepot@yahoo.com |
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Website: |
None |
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CREDIT
OPINION
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|
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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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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
2005 |
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Reg. Number: |
Democratic Republic Of Congo |
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Nominal Capital |
CDF.
1,000,000 |
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Subscribed Capital |
CDF.
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. Karim M. |
Manager |
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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 importers
of pharmaceuticals and cosmetic products |
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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 (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
Local agencies, medical firms |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Democratic Republic Of Congo |
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Location: |
Rented premises, 3,500 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: |
Congo Franc (CDF.) |
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Approx. Ex. Rate: |
1 US Dollar = 915.91
Congo Francs |
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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 CDF.) |
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2014 |
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Sales |
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8,550,000,000 |
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BANK
|
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Bank Name: |
Banque
Internationale d'Afrique |
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Branch: |
Democratic Republic Of
Congo |
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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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.37 |
|
|
1 |
Rs.102.54 |
|
Euro |
1 |
Rs.75.32 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
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Report Prepared
by : |
TPT |
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 |
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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 |
|
|
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 |
|
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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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
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.