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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

502618

Report Date :

11.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

BOULANGERIE LA GENOISE

 

 

Registered Office :

Bord De Mer, Liberville

 

 

Country :

Gabon

 

 

Date of Incorporation :

04.05.2010

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Dealers in Food Products such as Pastries.

 

 

No. of Employees :

10

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

B

 

Credit Rating

Explanation

 

Rating Comments

B

Medium Risk

Business dealings permissible on a regular monitoring basis

 

 

 

Status :

Moderate

 

 

Payment Behaviour :

Slow but Correct

 

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Gabon

B1

B1

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

D

 

 

 

 

GABON - ECONOMIC OVERVIEW

 

Gabon enjoys a per capita income four times that of most sub-Saharan African nations, but because of high income inequality, a large proportion of the population remains poor. Gabon relied on timber and manganese exports until oil was discovered offshore in the early 1970s. From 2010 to 2016, oil accounted for approximately 80% of Gabon’s exports, 45% of its GDP, and 60% of its state budget revenues.

Gabon faces fluctuating international prices for its oil, timber, and manganese exports. A rebound of oil prices from 2001 to 2013 helped growth, but declining production, as some fields passed their peak production, has hampered Gabon from fully realizing potential gains. GDP grew nearly 6% per year over the 2010-14 period, but slowed significantly from 2014 to just 1% in 2017 as oil prices declined. Low oil prices also weakened government revenue and negatively affected the trade and current account balances. In the wake of lower revenue, Gabon signed a 3-year agreement with the IMF in June 2017.

Despite an abundance of natural wealth, poor fiscal management and over-reliance on oil has stifled the economy. Power cuts and water shortages are frequent. Gabon is reliant on imports and the government heavily subsidizes commodities, including food, but will be hard pressed to tamp down public frustration with unemployment and corruption.

 

Source : CIA

 

 

 

SUBJECT'S NAME

 

Registered Name:

BOULANGERIE LA GENOISE

Requested Name:

BOULANGERIE LA GENOISE

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Bord De Mer,

 

Liberville,

Country:

Gabon

Phone:

241-1-7243435/761458

Fax:

241-1-761458

Email:

None

Website:

None

 

 

CREDIT OPINION

 

Financial Index as of December 2017 shows subject firm with a medium risk of credit.

 

 

LEGAL

 

Legal Form:

Sole Proprietorship

Date Incorporated:

04-May-2010

Reg. Number:

--

Nominal Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Gerald P.

GM

 

 

 

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 dealers in food products such as pastries.

 

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (40%) and 25-90 days (60%), invoices.

 

 

Main Customers:

General Public  

Employees:

10 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Gabon

Location:

Rented premises, 5,000 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

Currency Reported:

West African Franc (CFA.)

Fiscal Year End:

December 31, 2017

Inflation:

According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in CFA.)

 

 

2017

Sales

 

450,000,000

 

 

BANK

 

Bank Name:

ECOBANK

Branch:

Gabon

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

INR 64.94

UK Pound

1

INR 91.75

Euro

1

INR 79.90

CFA

1

INR 0.12

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

NIT

 

 

 

RATING EXPLANATIONS

 

Credit Rating

 

Explanation

Rating Comments

A++

Minimum Risk

Business dealings permissible with minimum risk of default

A+

Low Risk

Business dealings permissible with low risk of default

A

Acceptable Risk

Business dealings permissible with moderate risk of default

B

Medium Risk

Business dealings permissible on a regular monitoring basis

C

Medium High Risk

Business dealings permissible preferably on secured basis

D

High Risk

Business dealing not recommended or on secured terms only

NB

New Business

No recommendation can be done due to business in infancy stage

NT

No Trace

No recommendation can be done as the business is not traceable

 

NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.

 

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 are as follows:

 

·         Financial condition covering various ratios

·         Company background and operations size

·         Promoters / Management background

·         Payment record

·         Litigation against the subject

·         Industry scenario / competitor analysis

·         Supplier / Customer / Banker review (wherever available)

 

 

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.