MIRA INFORM REPORT

 

 

Report Date :

11th May 2006

 

IDENTIFICATION DETAILS

 

Name :

A.P.S. ATHIENITES LIMITED

 

 

Registered Office :

58, Inomenon Ethnon                                   

6042 - Larnaca

40988 - Larnaca                                           

6308 - Larnaca

Larnaca

 

 

Date of Incorporation :

28/02/1992

 

 

Legal Form :

Private Limited Liability Company

 

 

Line of Business :

Import and trade of children-women-men clothing wear, and dowry products.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory 

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

NAME & ADDRESS

 

Name Inquired Under: ATHIEMITIES DEPARTMENT STORE

Correct Registered Name: A.P.S. ATHIENITES LIMITED

 

Street: 58, Inomenon Ethnon         

Postal Code: 6042 - Larnaca

P.O.Box: 40988 - Larnaca               

Postal Code: 6308 - Larnaca

Locality: Larnaca                            

Town: Larnaca

 

Tel: 24364444                                 

Fax: 24364300

 

E-Mail: a.p.s.athienite@cytanet.com.cy     

Telex: N/A

 

 

LEGAL STATUS

 

Private Limited Liability Company

 

Date Founded: 28/02/1992

 

Legal Status (Cont.):

 

Trade Registration No. & Town: 47874 - Nicosia

 

Date Registered: 28/02/1992

 

 

PRINCIPALS

 

Shareholders/Partners/Proprietor

 

Name                                            Equity            Nationality

 

Mr. Antonis Th. Halouvas              3.000             Cypriot

Mrs. Maria Th. Halouva                 2.200             Cypriot

Mr. Andreas A. Halouvas               1.200             Cypriot

Mrs. Eleni Xidia                            1.200             Cypriot

Mr. Theodoros Theodorou             1.200             Cypriot

Mrs. Tasoulla A. Pavlou                    600             Cypriot

Mr. Pavlos Pavlou                             600             Cypriot

 

Directors/Managers

Name                                                Position

 

Mr. Pavlos Pavlou                          Director / General Manager

Mrs. Tasoulla Pavlou                     Director / Secretary

Mr. Andreas A. Halouvas              Director

 

 

RELATED COMPANIES

 

Parent/Subsidiary/Sister/Associate:

 

None

 

 

OPERATIONS

 

Imports

Local Purchases

 

Activities:

 

Import and trade of children-women-men clothing wear, and dowry products.

 

Retailers: 100%

 

 

No of Employees (Categorise): 15-20 persons

AGENCIES

Name                                  Country                   Product

 

None

 

TRADE SUPPLIERS

Name                                  Country                   Product

 

“Mora”                                 Spain                       Dowry Products

“Christiniaro”                      Greece                      Women’s Wear      

 

Import From: Greece, Spain, France, China, India, etc.

 

Import Terms: Pre-Payment and Credit facilities.

 

Export To: Not applicable

 

Export Terms: Not applicable

 

 

DESCRIPTION OF PREMISES

 

Headquarters:

 

The company operates from owned premises, which are located at the address given overleaf. Premises comprised of offices, warehouse and a retail shop.

 

Branches: 

 

The Company maintains retail shops as follows:

 

  1. In Larnaca (City Center) (rented).
  2. Paralimni Village, Famagusta District ( owned)
  3. In Nicosia City (Rented).

 

 

BANKERS

 

Bank of Cyprus Limited

124, 1st April Ave, 5280 Paralimni

Tel.  23843100    

Fax 2382510

 

 

FINANCES

 

Currency: Cyprus Pounds.

 

Registered Capital: CYP 10.000     

Paid Up Capital: CYP 10.000

 

 

FINANCES (Cont)

 

Sales Turnover:   CYP 2.899.812 (2004)

 

Average Stock:  CYP 1.000.000

 

Economic Results: Positive

 

Charges: No charges.

 

Subject declined further detailed Financial Information.

 

 

PAYMENT

 

No complaints

 

Commercial Morality: Good

 

Financial Strength: Good

 

Good for Amount and Terms of Inquiry: To High

 

Comments: Safer to split the amount in to several lots.

 

 

GENERAL COMMENTS

 

The present limited liability company was incorporated on 28/02/1992. It is dealing with the import and trade of children-women-men clothing wear, and dowry products. Products are imported from Greece, Spain, France, China, India, etc.

 

The company retail trades its products through its retail outlets in Cyprus, as mentioned overleaf.

 

 

 RATING EXPLANATIONS

 

 

RATING

STATUS

PROPOSED CREDIT LINE

>86

Aaa

Possesses an extremely sound financial base with the strongest capability for timely payment of interest and principal sums

Unlimited

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

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

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

26-40

B

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

Small

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

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions