MIRA INFORM REPORT

Report No. :	503718
Report Date :	18.04.2018

IDENTIFICATION DETAILS

Name :	SOCIETE LAH NEGOCE & COMPAGNIE SARL
Registered Office :	Immeuble Canal Rue 325, Port 86, BP E3203 / E 3676, Bamako
Country :	Mali
Financials (as on) :	2017
Date of Incorporation :	31.10.2008
Com. Reg. No.:	2008B4822
Legal Form :	Limited Corporation
Line of Business :	Registered to operate import and export of general merchandise such as FMCG products, hardware etc.
No. of Employees :	20

RATING & COMMENTS

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

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Maximum Credit Limit :	USD 65,000
Status :	Satisfactory
Payment Behaviour :	No Complaints
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.

MALI - ECONOMIC OVERVIEW

Among the 25 poorest countries in the world, landlocked Mali depends on gold mining and agricultural exports for revenue. The country's fiscal status fluctuates with gold and agricultural commodity prices and the harvest; cotton and gold exports make up around 80% of export earnings. Mali remains dependent on foreign aid.

Economic activity is largely confined to the riverine area irrigated by the Niger River; about 65% of Mali’s land area is desert or semidesert. About 10% of the population is nomadic and about 80% of the labor force is engaged in farming and fishing. Industrial activity is concentrated on processing farm commodities. The government subsidizes the production of cereals to decrease the country’s dependence on imported foodstuffs and to reduce its vulnerability to food price shocks.

Mali is developing its iron ore extraction industry to diversify foreign exchange earnings away from gold, but the pace will depend on global price trends. Although the political coup in 2012 slowed Mali’s growth, the economy has since bounced back, with GDP growth above 5% in 2014-17, although physical insecurity, high population growth, corruption, weak infrastructure, and low levels of human capital continue to constrain economic development. Higher rainfall helped to boost cotton output in 2017, and the country’s 2017 budget increased spending more than 10%, much of which was devoted to infrastructure and agriculture. Corruption and political turmoil are strong downside risks in 2018 and beyond.

Source : CIA

Company name
Registered Name:	SOCIETE LAH NEGOCE & COMPAGNIE SARL
Requested Name:	LAH NEGOCE COMPANIES SARL
Other Names:	SOCIETE LAH NEGOCE COMPAGNIE SARL
	IBRAHIMA DIT BAYA LAH
ADDRESS AND TELECOMMUNICATION
Physical Address:	Immeuble Canal Rue 325, Port 86,
Postal Address:	BP E3203 / E 3676
	Bamako
Country:	Mali
Phone:	223-2296464/229/6633/20214040/211563/-75242424
Fax:	223-20-211563/212022
Email:	bayalah2005@yahoo.fr
Website:	None
CREDIT OPINION
Financial Index as of December 2017 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments. We recommend Credit of USD 65,000 on 90 days.
LEGAL
Legal Form:		Limited Corporation
Date Incorporated:		31-Oct-2008
Reg. Number:		2008B4822
VAT Number:		082211406D
Nominal Capital		CFA. 11,764,403,000
Subscribed Capital		CFA. 11,764,403,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Ibrahima Lah		MD
Hathie Lah		Director
Guidado Lah		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 import and export of general merchandise such as FMCG products, hardware etc.
Imports:		Asia
Exports:		Neighbouring countries
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		Local agencies, stores and outlets
Employees:		20 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Mali
Location:		Rented premises, 2,500 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 31^st, 2017 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in CFA.)
			2017
Sales			13,850,000,000
BANK
Bank Name:		BANQUE NATIONALE DE DEVELOPMENT AGRICOLE BNDA
SWIFT Code:		BNDAMLBA
Branch:		Mali
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 65.61
UK Pound	1	INR 94.21
Euro	1	INR 81.32
MVR [CFA]	1	INR 0.12

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

INFORMATION DETAILS

Analysis Done by :	DIV
Report Prepared by :	TPT

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)

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