MIRA
INFORM REPORT
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Report Date : |
31st
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
GERMAN
SPA |
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Registered Office : |
Zone
Industrielle Ain Smara 72,
Constantine Algeria |
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Country : |
Algeria |
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Financials (as on) : |
31/12/2006
(Projected) |
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Date of Incorporation : |
23
July 1997 |
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Com. Reg. No.: |
97B620046 |
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Legal Form : |
Joint
Stock 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 : |
Regular
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Litigation : |
Clear |
CO. NAME
GERMAN
SPA
ADDRESS
Area : Zone Industrielle Ain Smara
P.O.
Box : 72
Town : Constantine
Country : Algeria
Telephone :
(213 31) 973 886-90
Fax : (213 31) 973 840 (finance) / 973 885 / 973
823
Also
Known As : Ste des Materiels de Gerbage
et de Manutention
SENIOR COMPANY PERSONNEL
Name Position
1.
Brahim Naamoune Managing Director
2.
Abdelouaheb Salhi Financial Director
3.
Abdredine Bebebia Deputy Financial Director
3.
Ahmed Soukiaze Supplies Director
Total
Employees : 360
PAYMENTS
No
complaints have been heard regarding payments from local suppliers or banks.
Subject
incurred losses of AD 5,000,000 in 2004 and returned to profitability in 2005
financial year.
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 10,000,000
Trade
risk assessment : Normal
Opinion
on the crtedit figure of EURO 100,000 :
We
consider the above figure to be within the company's financial capabilities.
PRINCIPAL BANKERS
NAME : BANQUE NATIONALE D'ALGERIE
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 800,000,000 - 2003 - exact
: AD
1,110,000,000 - 2004 - exact
: AD 1,103,000,000 - 2005 - exact
:
AD 1,200,000,000 - 2006 - projected
Net
Profit : not given -
2003 -
: AD (5,000,000)-
2004 - exact
: AD 4,500,000 -
2005 - exact
: AD 10,000,000 -
2006 - exact
Financial
year ends 31 December.
*
loss incurred in 2004 subject attributed to a strong competition
LEGAL STATUS AND HISTORY
Date
Started : 23 July 1997
C.R.
No. : 97B620046
Fiscal
ID: 099725100359326
Paid
up Capital : AD 90,000,000
Societe
par Actions (Joint Stock Company) with the following sole shareholder :
State
of Algeria 100%
ACTIVITIES
The
Company is involved in the following activities :
Manufacturers
and distributors of heavy mechanical handling and industrial equipment.
Agents
for Boss Group - Leighton Buzard.
Imports
from Bulgaria, Germnay, France, Belgium, Sweden and UK.
FACILITIES
The
Company has the following facilities :
Administrative
offices and storage facilities located at the heading address.
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 |