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3decades

 

MIRA INFORM REPORT

 

 

Report No. :

499533.2

Report Date :

17.04.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

ETS WAHEGURU

 

 

Registered Office :

Avenue Charles De Gaulle Vers La Cnss En Allsnt Vers 1 Eglise Saint Piperre

Pointe-Noire

 

 

Country :

Congo

 

 

Financials (as on) :

2018 (Projected Sales)

 

 

Date of Incorporation :

15.12.2017

 

 

Com. Reg. No.:

CG/PNR/17A1137

 

 

Legal Form :

Sole Proprietorship

 

 

Line of Business :

Subject operate as general trader dealing with food products, building works.

 

 

No. of Employees :

5

 

 

 

RATING & COMMENTS

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

 

MIRA’s Rating :

C

 

Credit Rating

Explanation

Rating Comments

C

Medium High Risk

Business dealings permissible preferably on secured basis

 

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

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Congo

C1

C1

 

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

 

 

CONGO - ECONOMIC OVERVIEW

 

The Republic of the Congo’s economy is a mixture of subsistence farming, an industrial sector based largely on oil and support services, and government spending. Oil has supplanted forestry as the mainstay of the economy, providing a major share of government revenues and exports. Natural gas is increasingly being converted to electricity rather than being flared, greatly improving energy prospects. New mining projects, particularly iron ore, which entered production in late 2013, may add as much as $1 billion to annual government revenue. The Republic of the Congo is a member of the Central African Economic and Monetary Community (CEMAC) and shares a common currency – the Central African Franc – with five other member states in the region.

The current administration faces difficult economic challenges of stimulating recovery and reducing poverty. The drop in oil prices that began in 2014 has constrained government spending; lower oil prices forced the government to cut more than $1 billion in planned spending. The fiscal deficit amounted to 11% of GDP in 2017. The government’s inability to pay civil servant salaries has resulted in multiple rounds of strikes by many groups, including doctors, nurses, and teachers. In the wake of a multi-year recession, the country reached out to the IMF in 2017 for a new program; the IMF noted that the country’s continued dependence on oil, unsustainable debt, and significant governance weakness are key impediments to the country’s economy. In 2018, the country’s external debt level will approach 120% of GDP. The IMF urged the government to renegotiate debts levels to sustainable levels before it agreed to a new macroeconomic adjustment package.

 

Source : CIA

 

Company NAME     

 

Registered Name:

ETS WAHEGURU

Requested Name:

ETS WAHEGURU

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Avenue Charles De Gaulle Vers La Cnss En Allsnt Vers 1 Eglise Saint Piperre

 

Pointe-Noire,

Country:

Republique De Congo

Phone:

242-66732343

Fax:

242-66732343

Email:

None

Website:

None

 

 

CREDIT OPINION

 

 

Projected Financial Index as of December 2018 shows subject firm with a medium risk of credit.

 

 

LEGAL

 

 

Legal Form:

Sole Proprietorship

Date Incorporated:

15-Dec-2017

Reg. Number:

CG/PNR/17A1137

Nominal Capital

CFA. 1,000,000

Subscribed Capital

CFA. 1,000,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Punjabi Kapil

MD

100%

 

 

RELATED COMPANIES

 

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

Punjabi Kapil

Shareholder of subject firm.

None

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as general trader dealing with food products, building works etc

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

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

 

 

Main Customers:

Local agencies, stores  

Employees:

5 employees.

Vehicles:

2 motor vehicles.

Territory of sales:

Republique De Congo

Location:

Rented premises, 1,500 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

 

Currency Reported:

West African Franc (CFA.)

Projected Fiscal Year End:

December 31, 2017

Projected 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.)

 

 

2018

Projected Sales

 

50,000,000

 

 

BANK

 

 

Bank Name:

ECOBANK

Branch:

Republique De Congo

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 65.45

UK Pound

1

INR 93.28

Euro

1

INR 80.74

CDF

1

INR 0.041

                                                                  

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

 

 

INFORMATION DETAILS

 

Analysis Done by :

PRA

 

 

Report Prepared by :

TRU

                                                


 

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.