MIRA INFORM REPORT

Report No. :	488485
Report Date :	31.01.2018

IDENTIFICATION DETAILS

Name :	OTIM VENEER SARL
Registered Office :	Parcelle J-3 Gabon Special Economic Zone Nkk Bp 1060 Libreville,
Country :	Gabon
Date of Incorporation :	10.06.2014
Legal Form :	Societe Anonyme Responsabilitee Limitee
Line of Business :	Registered to operate as exporters of veneers from local timbers
No. of Employees :	30

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

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.

ECGC Country Risk Classification List

Country Name	Previous Rating (30.06.2017)	Current Rating (30.09.2017)
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 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 in 2015 as oil prices declined. Low oil prices also weakened government revenue and negatively affected the trade and current account balances.

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. Significant cuts in budget expenditures - Gabon’s budget has contracted for four years in a row - have not extended to the government’s priority projects, like a new stadium for the Africa Cup of Nations.

Source : CIA

Company name

SUBJECT'S NAME
Registered Name:	OTIM VENEER SARL
Requested Name:	OTIM VENEER SARL
Other Names:	None
ADDRESS AND TELECOMMUNICATION
Physical Address:	Parcelle J-3 Gabon Special Economic Zone Nkk
Postal Address:	BP 1060
	Libreville,
Country:	Gabon
Phone:	241-3425830
Fax:	241-3425830
Email:	None
Website:	None
CREDIT OPINION
Financial Index as of December 2017 shows subject firm with a medium risk of credit.
LEGAL
Legal Form:		Societe Anonyme Responsabilitee Limitee
Date Incorporated:		10-July-2014
Reg. Number:		Gabon
Nominal Capital		CFA. 1,000,000
Subscribed Capital		CFA. 1,000,000
Subscribed Capital is Subscribed in the following form:
		Position		Shares
Mr. Sharad Marathe		MD
Mr. Nikhil Marathe		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 exporters of veneers from local timbers
Imports:		None
Exports:		Asia
Trademarks:		None
Terms of sale:		Cash (40%) and 25-90 days (60%), invoices.
Main Customers:		firms and organizations
Employees:		30 employees.
Vehicles:		Several motor vehicles.
Territory of sales:		Gabon
Location:		Rented premises, 10,000 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.)
		2016	2017
Sales		1,150,000	2,000,000
BANK
Bank Name:		Bank of Abyssinia
Branch:		Gabon
Comments:		None
TRADE REFERENCES
Experiences:		Good
NOTARIAL BONDS		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 63.75
UK Pound	1	INR 89.38
Euro	1	INR 78.75
CFA	1	INR 0.12

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

INFORMATION DETAILS

Analysis Done by :	NIS
Report Prepared by :	DNS

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.