MIRA
INFORM REPORT
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Report Date : |
2nd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
MAGHREB
TRUCK COMPANY SPA |
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Registered Office : |
4
Rue Victor Hugo Algiers
16000 Algeria |
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Country : |
Algeria |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
02B19205 |
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Legal Form : |
Joint
stock company |
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Line of Business : |
Manufacturers
and assemblers of heavy duty trucks |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
CO. NAME
MAGHREB
TRUCK COMPANY SPA
ADDRESS
Street : 4 Rue Victor Hugo
Town : Algiers 16000
Country : Algeria
Telephone :
(213 21) 747 262
Fax : (213 21) 747 263
E-Mail : Contacts@mtc-man.com
Shortform
Name : MTC
SENIOR COMPANY PERSONNEL
Name Position
1.
Nabil Salhi Chairman
2.
Abdelrahman Salhi Managing Director
3.
Mr Mellaz Financial Director
Total
Employees : 170
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
We
consider it is acceptable to deal with subject for MEDIUM amounts, although it
is normal accepted practice for international suppliers to deal on secured
terms with Algerian importers.
Opinion
on maximum credit : AD 30,000,000
Trade
risk assessment : Normal
Opinion
on the credit figure of EURO 50,000 :
We
consider the above figure to be within the company's financial capabilities.
TRADE REFERENCES
NAME :
MAN AG
Street :
Ungererstraße 69
Town :
München 80713
Country :
Germany
Telephone
: (49) 89 36098 / 0
Fax :
(49) 89 36098 / 250
PRINCIPAL BANKERS
NAME : BNP PARIBAS EL DJAZAIR
Branch : Hydra
Street : 10, Rue Abou Nouas
Town : Alger
Telephone:
(213 21) 603 942 / 603 929
Fax : (213 21) 603 929
The
company also has an account with the following bank :
1.
Citibank
7
Rue Larbi Allik
Algiers
Tel: (213 21) 548 600
Fax: (213 21) 547 815
2.
Banque Nationale D'Algerie
Blvd Ernesto Che Guevara 8
Algiers
Telephone: (213 21) 714 748
Fax
: (213 21) 712 424
FINANCIAL INFORMATION
Balance
sheets are not available. However, the subject interviewed offered the
following information :
Sales
Turnover : EURO 15,000,000 - 2003 - exact
: EURO 35,000,000 - 2004 - exact
: EURO 35,000,000 - 2005 - approx
Net
Profit : not given but stated to be profitable
LEGAL STATUS AND HISTORY
Date
Started : 2003
C.R.
No. : 02B19205
Capital
: EURO 2,000,000
Societe
par Actions (joint stock company) with the following shareholders :
1.
Nabil Salhi
2.
Abdelrahman Salhi
3.
Other members of Salhi family
ACTIVITIES
The
Company is involved in the following activities :
Manufacturers
and assemblers of heavy duty trucks.
Imports
components and spare parts from Germany.
Exlusive
distributors of MAN Nutzfahrzeuge AG.
FACILITIES
The
Company has the following facilities :
Offices
and showroom located at the heading adrress.
The
factory is located 30km away from the offices at Ouad Smar Industrial Zone.
Tel:
(213 21) 513 336 / 513 831-33,
Fax:
(213 21) 513 829-30.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial
base with the strongest capability for timely payment of interest and
principal sums |
Unlimited |
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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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution
needed to be exercised |
Credit not recommended |