MIRA
INFORM REPORT
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Report Date : |
22nd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
MIDY PEINTURE SARL |
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Registered Office : |
Zone d'Activite 1 Zeralda Lot No. 7 Zeralda 16001, Alger Algeria |
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Country : |
Algeria |
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Date of Incorporation : |
1 June 1993 |
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Com. Reg. No.: |
99B0006409 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturers, exporters and distributors of
paints, varnishes, lacquers and distempers. |
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
MIDY PEINTURE SARL
ADDRESS
Area : Zone d'Activite 1 Zeralda Lot No. 7
Town :
Zeralda 16001
Province : Alger
Country :
Algeria
Telephone: (213 21) 325
356 / 327 057 / (213) 6161 6263 / 6167 05 63
6167 0562 (mobile)
Fax : (213 21) 327 057
SENIOR COMPANY PERSONNEL
Name Position
1. Hamza Brahim
General Manager
2. Mohammed Houara
Financial Manager
Total Employees : 100
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 8,000,000
Trade risk assessment : Normal
TRADE REFERENCES
NAME : SOCIETE POUR LE
DEVELOPPEMENT INDUSTRIEL & COMMERCIAL (SDIC)
Street : 31, Bis rue Marcello Fabri
Area : Les Sources
Town : Bir Mourad Rais
Country: Algeria
Tel : (213 21) 54 46 33
Fax : (213 21) 54 46 01
E-mail : sdic@algeriainfo.com
PRINCIPAL BANKERS
NAME : BANQUE NATIONALE
D'ALGERIE (BNA)
Branch : Blvd Ernesto Che
Guevara 8
Town : 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 : AD
340,000,000 - 1999 - exact
: AD 400,000,000 - 2000 - approx
: AD 450,000,000 - 2001 - approx
: AD 450,000,000 - 2002 - approx
: not given - 2003
: AD 400,000,000 - 2004 - approx
: AD 450,000,000 - 2005 - exact
: AD 500,000,000 - 2006 - projected
Net Profit : not given - 1999 - 2004
: AD
30,000,000 - 2005 - exact
Financial year ends 31 December.
LEGAL STATUS AND HISTORY
Date Started : 1 June 1993
C.R. No. : 99B0006409 (formerly 93B0550276)
Authorised & Paid up Capital : AD 64,000,000 (increased from
AD 300,000 in 1998)
Societe a Responsibilite Limitee (Limited Liability Company) with
the following shareholders :
1. Hamza Brahim
2. Abderrahmane Aoussat
3. Bachir Aoussat
ACTIVITIES
The Company is involved in the following activities :
Manufacturers, exporters and distributors of paints, varnishes,
lacquers and distempers.
Brand name : Midy Peinture
Imports chemicals and spare parts from France and Germany.
Exports to neighbouring countries.
FACILITIES
The Company has the following facilities :
Administrative offices, production unit and storage facilities
located at the heading address.
The company also has branch offices in other parts of the country
(See 'Branch offices' below).
Subject former address until 1999 was at 9 Rue Dif Mohamed
42445 Douaouda, Algeria.
BRANCH OFFICES
1. Route d'Alger
42445 Daouaouda
Tipaza
Tel: (213 24) 409 344 /
409 233
Fax: (213 24) 482 626 /
409 288
2. Rue Jubat No. 32
31000 Oran
Tel: (213 41) 345 714
Fax: (213 41) 345 714
3. Rue Dubai
19600 El Eulma
Setif
Tel: (213 36) 862 646
Fax: (213 36) 962 646
4. Route de Hassi Messaou
30000 Ouargla
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 |