MIRA
INFORM REPORT
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Report Date : |
13th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
CERAMICA
MADAOUI EURL |
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Registered Office : |
Boulevard
Krim Belkacem |
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Country : |
Algeria |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
03B018418 |
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Legal Form : |
Single shareholder limited liability
company |
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Line of Business : |
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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 : |
Usually
Correct |
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Litigation : |
Clear |
CO. NAME
CERAMICA MADAOUI EURL
ADDRESS
Street :
Boulevard Krim Belkacem
Area :
Bir Slem
P.O. Box : 199 Cedex 13
Town :
Bejaia 06000
Country : Algeria
Telephone : (213 34) 216 566
/ 214 477
Fax :
(213 34) 214 477
SENIOR COMPANY PERSONNEL
Name
Position
1. Madaoui Abdelaziz Managing Director
2. Zohir
yasri
Chief Accountant
Total Employees : 15
(subject)
100 (group)
PAYMENTS
No complaints have been heard regarding payments from local suppliers or banks.
We consider it is acceptable to deal with subject for SMALL amounts, although
it is normal accepted practice for international suppliers to deal on secured
terms with Algerian importers.
Opinion on maximum credit : AD 1,500,000
Trade risk assessment : Normal
PRINCIPAL BANKERS
NAME : CREDIT POPULAIRE D'ALGERIE (CPA)
Branch : Place du 1er Novembre 1954
Town : Bejaia
Telephone: (213 34) 223 454 / 202 855
The company also has an account with the following bank:
Societe Generale d'Algerie
Bgayet
18 Lot Bouali, Sidi Ahmed
Bejaia 06000
Tel: (213 34) 204 480
Fax: (213 34) 204 482
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the
following information :
Sales Turnover : AD 90,000,000 - 2001 - exact
: AD 56,000,000 - 2002 - exact
: AD 30,000,000 - 2003 - exact*
: AD 50,000,000 - 2004 - exact
: Ad 62,800,000 - 2005 - exact
: AD 70,000,000 - 2006 - projected
Net Profit : AD 7,500,000
- 2001 - exact
: AD 6,000,000 - 2002 - exact
: AD 5,000,000 - 2004 - exact
: AD 3,000,000 - 2004 - exact
: AD 3,863,000 - 2005 - exact
Financial year ends 31 December.
* Decrease in the sales turnover was due to the law change in 2003 and increase
of the tax
LEGAL STATUS AND HISTORY
Date Started : 2003
C.R. No. : 03B018418
Capital : AD 20,000,000 (increased from AD 10,000,000; increased from AD
100,000)
Entreprise Unipersonnelle a Responsabilite Limitee (single shareholder limited
liability company) with the following sole shareholder :
Madaoui Abdelaziz
Affiliated companies of Ceramica Madaoui Eurl :
Associates
1. SARL Continental Caermic
2. SARL Promotionel Ceramic
ACTIVITIES
The Company is involved in the following activities :
Importers, exporters and distributors of sanitary equipment and bathroom
accessories, metal, stoneware, glassware,pottery, porcelain, domestic
furniture, wicker, caneware and building materials.
Subject is also engages in property development, management and sales services.
Imports from Spain, France and Tunisia.
Distributors from:
- Rocher Sanitair, France
- Saloni, Spain
- Undefa, Spain
FACILITIES
The Company has the following facilities :
Administrative offices and storage facilities located at the heading address.
In March 2005 subject opened a new commercial centre of 4 levels covering 1,400
sq.m. and comprising two levels of showroom and two levels of storage
facilities
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 |