MIRA INFORM REPORT
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Report Date : |
23rd May 2006 |
IDENTIFICATION DETAILS
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Name : |
PANTELIS KAOURIS LIMITED |
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Registered Office : |
151,
Franklinou Roosevelt, 53211, Limassol |
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Date of Incorporation : |
1981 |
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Com. Reg. No.: |
15243
- Nicosia |
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Legal Form : |
Private
Limited Liability Company |
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Line of Business : |
Engaged
in the business of processing, packing, wholesalers of foodstuff (i.e.
legumes, sugar, rice, sesame, dry nuts, spices, etc.). |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 |
NAME & ADDRESS
Name Inquired Under: PANTELIS KAOURIS LIMITED
Correct Registered Name: PANTELIS KAOURIS LIMITED
Street: 151, Franklinou Roosevelt
Postal Code: 3011 - Limassol
P.O.Box: 53211 - Limassol
Postal Code: 3301 - Limassol
Locality: Limassol
Town: Limassol
Tel : 25568917
Fax: 25544369
E-Mail: kaouris@cytanet.com.cy
Telex: N/A
LEGAL STATUS
Private Limited Liability Company
Date Founded: 1981
Legal Status (Cont.):
Trade Registration No. & Town: 15243 - Nicosia
Date Registered: 11/02/1981
PRINCIPALS
Shareholders/Partners/Proprietor
Name Equity Nationality
Mr. Pantelis Kaouris 8.750 Cypriot
Mr. Yiannos S.P. Kaouris 3.250 Cypriot
Directors/Managers
Name Position
Mr. Pantelis Kaouris Director/General & Financial Manager
Mrs. Androulla P. Kaouris Director/Secretary
Mr. Andros Hadjistefanou Production Manager
RELATED COMPANIES
Parent/Subsidiary/Sister/Associate:
None
OPERATIONS
Mode of Operation:
Importers (100%)
Distributors (7 vehicles)
Activities:
Processing, Packing, Wholesalers: foodstuff (i.e. legumes, sugar, rice, sesame, dry nuts, spices, etc.).
No of Employees (Categorise): 30 persons
AGENCIES
Name Country Product
None.
TRADE SUPPLIERS
Name Country Product
Not disclosed.
Import From: Uruguay, Thailand, India, Egypt, U.S.A., Canada, Germany,
Greece, Italy, etc.
Import Terms: CAD – at Sight.
Export To: Not applicable.
DESCRIPTION OF PREMISES
Headquarters:
The company is operating from owned premises, which are located at the address given overleaf. Premises are spacious, covering a total area of 2,500 m². (Offices 250 m², warehouses 1,450 m², Packing House 800 m²).
Branches: None.
BANKERS
Bank of Cyprus Ltd (Branch 0336)
150A, Franklinou Roosevelt str., 3045 Limassol
Tel.: 25572040, Fax: 25566148
Cyprus Popular Bank Ltd (Main Branch)
P.O.Box: 50106 – 3697 Limassol
Athinon Street, Laiki Building, 3041 Limassol
Tel.: 800020000Fax: 25354717
FINANCES
Currency: Cyprus Pounds.
Registered Capital: CYP 25.000
Paid Up Capital: CYP 12.000
Economic Results: Positive.
Finances (Cont.):
.
Sales Turnover: CYP 1.558.233 (2002)
CYP 1.226.462
(2003)
Average Stock: CYP 383.92
Charges:
08/09/84 Fixed charge CYP 15.000 in
f/o Cyprus Development Bank
08/09/94 Float.charge CYP 15.000 in
f/o Cyprus Development Bank
01/09/86 Fixed charge CYP 10.000 in
f/o Cyprus Development Bank
01/09/86 Float.charge CYP 20.000 in
f/o Cyprus Development Bank
11/03/87 Fixed charge CYP 20.000 in
f/o Cyprus Development Bank
22/09/90 Float.charge CYP 25.000 in
f/o Cyprus Development Bank
22/09/90 Fixed charge CYP 9.000 in
f/o Cyprus Development Bank
14/07/93 Float.charge CYP 50.000 in
f/o Bank of Cyprus Ltd
04/07/94 Float.charge CYP 25.000 in
f/o Cyprus Development Bank
04/07/94 Fixed charge CYP 10.000 in
f/o Cyprus Development Bank
04/07/94 Fixed charge CYP 22.000 in
f/o Cyprus Development Bank
27/05/96 Float.charge CYP 50.000 in
f/o Bank of Cyprus Ltd
11/11/02 Float.charge CYP 270.000 in
f/o Cyprus Development Bank
Note: Please find attaché the company’s financial statements for year
2003.
PAYMENT
No complaints
Commercial Morality: Good
Financial Strength: Good
Good for Amount & Terms of Inquiry: Given the present that no further updated financial information is available at this stage, we feel unable to express a safe and reliable opinion on such a big amount given in your inquiry.
GENERAL COMMENTS
The present is a medium sized limited liability company, established in 1981. It is ably managed by Mr. Pantelis Kaouris, assisted by his son Yiannos.
The company is involved in the import of commodities (i.e. legumes,
sugar, rice, dry nuts, spices) in large quantities and the packing of them
locally, at the company’s own factory.
General Comments (Cont.):
Products are imported from Latin America, U.S.A., Canada, Europe and
Asia. Their whole production is distributed locally throughout Cyprus. The
company’s main clients are the local supermarkets in Cyprus’ major cities.
PANTELIS KAOURIS
LIMITED
PROFIT & LOSS
ACCOUNT
for the year ended 31
December 2003
2003
CYP
Sales Turnover 1.226.462
Cost of Sales (955.225)
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Gross Profit 271.237
Sales & Distribution Expenses (215.707)
Administration Expenses (856.888)
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Operational Profit 55.530
Financial Expenses (32.686)
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Profit before Taxation 22.844
Taxation (6.569)
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Profit After Taxation 16.275
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PANTELIS KAOURIS LIMITED
BALANCE SHEET
as at 31 December 2003
2003
CYP
ASSETS
Non Current Assets
Fixed Assets 117.414
CURRENT ASSETS
Stocks 383.992
Debtors & Prepayments 132.531
Directors Accounts 124.854
Cash in Hand & at Bank 24.149
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665.526
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Total Assets 782.940
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SHAREHOLDERS CAPITAL & LIABILITIES
Capital & Reserves
Share Capital 12.000
Reserves 62.447 ----------------
74.447
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CURRENT LIABILITIES
Creditors & Expenses Due 78.618
Current Installments of long-term loans 90.013
Bank Accounts 526.433
Taxation Due 13.429
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708.493
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Total Shareholders Capital &
Liabilities 782.940
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RATING EXPLANATIONS
RATING
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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 |