MIRA
INFORM REPORT
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Report Date : |
14th
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
EURL
FARADJ |
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Registered Office : |
Cite Makoudi Lot No. 53, 16270 Oued Smar, Wilaya
d'Alger, Algeria |
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Country : |
Algeria |
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Date of Incorporation : |
September 2004 |
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Legal Form : |
Entreprise Unipersonnelle a Responsabilite
Limitee (single shareholder limited liability company) |
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Line of Business : |
Importers and wholesalers of car spare parts. |
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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Maximum Credit Limit : |
AD 600,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
FARADJ EURL (Correct)
EURL FARADJ (Requested)
ADDRESS
Street : Cite Makoudi Lot No. 53
Town :
16270 Oued Smar
Province : Wilaya d'Alger
Country : Algeria
Telephone : (213 21) 524 815 / 529 193 / (213) 7012 6405
(mobile)
Fax :
(213 21) 529 193
E-Mail :
elfaradj@hotmail.com
SENIOR COMPANY PERSONNEL
Name Position
Abdelkader Sait General Manager
Total Employees : 7
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 600,000
Trade risk assessment: Normal
Opinion on the credit figure of EURO 30,000 :
The above figure is higher than normally seen in
one amount, however could prove admissible in a series of transactions provided
the total indebtedness is strictly monitored.
PRINCIPAL BANKERS
NAME : BANQUE DE DEVELOPEMENT LOCAL SPA
(BDL)
Branch : Agence El Harrach (Branch No. 156)
Street : Rue de la Charte No. 2
Town : 16010 El Harrach
Telephone :
(213 21) 526 979 / 529 212
Fax : (213 21) 528 926
Acc. No. :
156400049880
FINANCIAL INFORMATION
Balance sheets are not available. However, the
subject interviewed offered the following information :
Sales Turnover
: AD 30,000,000 - 2005 - exact
Net Profit : not given
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started :
September 2004
History :
The company was incorporated in Algeria in September 2004.
Authorised & Paid up Capital : AD 20,000,000
Entreprise Unipersonnelle a Responsabilite Limitee
(single shareholder limited liability company) with the following sole
shareholder :
Mohamed Fredj 100 %
ACTIVITIES
The Company is involved in the following activities
:
Importers and wholesalers of car spare parts.
Imports from Spain, Italy and Argentina.
Subject plans to start importing from China in the
near future.
FACILITIES
The Company has the following facilities :
Office premises, wholesale outlet and storage
facilities located at the heading address.
REGISTERED OFFICE
Rue Bomati No. 10
16010 El Harrach
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 |