MIRA INFORM REPORT

 

 

Report No. :

341040

Report Date :

21.09.2015

 

IDENTIFICATION DETAILS

 

Name :

GRUE LIMITED CORPORATION SARLU

 

 

Registered Office :

Marcory, Abidjan 06 BP 1225  Abidjan

 

 

Country :

Cote D'Ivoire (Ivory Coast)

 

 

Date of Incorporation :

03.04.2015

 

 

Com. Reg. No.:

CI-ABJ-2014-B-13651

 

 

Legal Form :

Societe Anonyme Sole-Shareholder Limited responsability

 

 

Line of Business :

Subject operates as a consultancy firm.

 

 

No. of Employee :

5

 

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

--

NB

                                       New Business

 

--

 

Status :

New business

 

 

Payment Behaviour :

Unknown

 

 

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)

Cote D'Ivoire (Ivory Coast)

 

 

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

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.

 

Source : CIA

 

 

 

 

Company NAME

 

Registered Name:

GRUE LIMITED CORPORATION SARLU

Requested Name:

GRUE LIMITED CORPORATION

Other Names:

GRLC

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Marcory, Abidjan

Postal Address:

06 BP 1225

 

Abidjan

Country:

Cote D'Ivoire (Ivory Coast)

Phone:

225-22420146

Fax:

225-22420146

Email:

None

Website:

None

 

 

CREDIT OPINION

 

Projected Financial Index as of December 2015 shows subject firm with a medium risk of credit. We recommend Secured Credit.

 

 

LEGAL

 

Legal Form:

Societe Anonyme Sole-Shareholder Limited responsability

Date Incorporated:

03-April-2015

Reg. Number:

CI-ABJ-2014-B-13651

Nominal Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Mr. Konan N'guessan

Director

 

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as a consultancy firm

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (20%) and 25-90 days (80%), invoices.

 

 

Main Customers:

firms and organizations  

Employees:

5 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Cote D’Ivoire (Ivory Coast)

Location:

Rented premises, 1,500 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

Currency Reported:

West African XOF (CFA.)

Approx. Ex. Rate:

1 US Dollar = 574.44 West African XOF

Projected Fiscal Year End:

December 31, 2014

Projected Inflation:

According to information given by independent sources, the inflation at December 31st, 2014 was of 13%.

 

Financial Information not Submitted

 

 

 

 

 

Profit and Loss (expressed in CFA.)

 

 

2015

Projected Sales

 

5,000,000

 

 

BANK

 

Bank Name:

ECOBANK

Branch:

Cote D’Ivoire (Ivory Coast)

Comments:

None

 

 

COMMENTS / ADDITIONAL INFORMATION

 

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.65.92

UK Pound

1

Rs.102.75

Euro

1

Rs.75.13

 

 

INFORMATION DETAILS

 

Analysis Done by :

KAR

 

 

Report Prepared by :

ANK

 

 

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

 

--

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.