MIRA
INFORM REPORT
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Report Date : |
31st
May 2006 |
IDENTIFICATION
DETAILS
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Name : |
LCCUK
ALGERIE EURL |
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Registered Office : |
19
Rue De La Fontaine El
Biar, Algiers 16030 Algeria |
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Country : |
Algeria |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
December
2004 |
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Com. Reg. No.: |
09666623B04 |
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Legal Form : |
Single
Shareholder Limited Liability Company |
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Line of Business : |
Engaged
in the business of building and GSM network stations contractors |
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
LCCUK
ALGERIE EURL (Correct)
LCCUK
ALGERIE EURL "LCC" (Requested)
ADDRESS
Street : 19 Rue De La Fontaine
Area : El Biar
Town : Algiers 16030
Country : Algeria
Telephone :
(213 21) 921 814
Fax : (213 21) 921 820
SENIOR COMPANY PERSONNEL
Name Position
1.
Yacine Zerouki Managing Director
2.
Ali Kebir Financial Director
Total
Employees : 84
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 20,000,000
Trade
risk assessment : Normal
Opinion
on the credit 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 : EURO 15,000,000 - 2005 -
exact
Net Profit : EURO
1,000,000 - 2005 - exact
Financial
year ends 31 December.
Consolidated
Balance Sheets of LCC International Inc and subsidiaries as at December 31
showed:
2004 2005
(In thousands of US DLRS)
ASSETS:
Current
assets:
Cash and
cash equivalents
21,930 14,196
Restricted
cash
1,162 1,141
receivable 46,214 47,448
Unbilled
receivables
28,696 35,791
Due from
related parties and affiliates
80 15
Deferred
income taxes, net
290 -
Prepaid
expenses and other current assets
1,586 1,998
Prepaid
tax receivable and prepaid taxes
683 1,195
Total
current assets
100,641 101,784
Property
and equipment, net
4,218 3,642
Investments
in affiliates 677 -
Deferred
income taxes, net
858 1,171
Goodwill
12,246 11,014
Other
intangibles
602 312
Other
assets 1,565 1,030
120,807 118,953
LIABILITIES
AND SHAREHOLDERS' EQUITY
Current
liabilities:
Line of
credit
147 2,975
Accounts
payable 19,790 27,876
Accrued
expenses
21,840 22,480
Accrued
employee compensation and benefits
4,850 5,390
Deferred
revenue
985 1,142
Income
taxes payable 1,570 2,891
Accrued
restructuring current
1,562 1,072
Other
current liabilities
239 188
Total
current liabilities
50,983 64,014
Accrued
restructuring noncurrent
1,339 492
Other
liabilities
780 696
Total
liabilities
53,102 65,202
Commitments
and contingencies
Shareholders'
equity:
Preferred
stock:
- -
Class A
common stock
202 205
Class B
common stock
44 44
Paid-in
capital
107,773 108,902
Accumulated
deficit
(42,913) (55,440)
Subtotal
65,106 53,711
Accumulated
other comprehensive income
foreign
currency translation adjustments
3,481 922
Treasury
stock (159,209 shares)
(882) (882)
REVENUES
193,158 193,973
COST Of
REVENUES
158,847 160,878
GROSS
PROFIT
34,311 33,095
OPERATING
(INCOME) EXPENSE:
Sales and
marketing
7,986 8,128
General
and administrative
27,446 30,141
Restructuring
charge (recovery)
(1,166) 598
Depreciation
and amortization 2,715 2,996
36,981 41,863
OPERATING
LOSS
(2,670) (8,768)
OTHER
INCOME (EXPENSE):
Interest
income
174 166
Interest
expense
(253) (318)
Other
1,395 (890)
1,316 (1,042)
LOSS
BEFORE INCOME TAXES
(1,354) (9,810)
PROVISION
(BENEFIT) FOR INCOME TAXES
4,957 2,717
NET
LOSS
(6,311) (12,527)
LEGAL STATUS AND HISTORY
Date
Started : December 2004
C.R.
No. : 09666623B04
Capital
: AD 25,250,000 (increased from AD 2,000,000)
Entreprise
Unipersonnelle a Responsabilite Limitee (single shareholder limited liability
company) with the following sole shareholder :
LCC
EMEA (Europe, Middle East and Africa)
91-93
Baker Street
London
W1U 6QQ
United
Kingdom
Tel:
(44 20) 7009 0600
Fax:
(44 20) 7009 0633
Affiliated
companies of Lccuk Algerie Eurl :
Associates
1.
LCC Algeria Regional Office
19, Rue de la Fontaine
El-Biar
16030 Algiers
Tel: (213 21) 921 814-17
Fax: (213 21) 921 820
2.
LCC Germany
Josef- Dietzgen- Strasse 3
D-53773 Hennef
Germany
Main Number: +49 2242-93-330
Main Facsimile: +49 2242-93-33199
3.
LCC Greece
"Aethrio" Commercial Center B48
40 Agiou Constaninou Street
151 24 Maroussi
Greece
Tel: +30 210-6100-386
Fax: +30 210-6100-387
4.
LCC ITALY & SOUTHERN EUROPE
Via Cornelia, 498
00166 Roma
Italy
Main Number: +39-06-624-4386
Main Facsimile: +39-06-624-6958
5.
LCC Italy
Palazzo Verrocchio
Centro Direzionale Milano 2
Via Fratelli Cervi, 20090 Segrate (MI)
Italy
Main Number: +39-02-2104-0901
Main Facsimile: +39-02-2159-1402
6.
LCC Netherlands (LCC Detron)
Visitor Address
Detron LCC Network Services B.V.
Ruwekampweg 4
5222 AT's - Hertogenbosch
The Netherlands
Tel: +31.0.73.7501.401
Fax: +31.0.73.7501.409
7.
LCC Saudi Arabia
28/F Kingdom Tower
Olaya and Mecca Road
Riyadh
11321 Kingdom of Saudi Arabia
Tel: +966-1211-8048
Fax: +966-1211-8028
8.
LCC Spain
C/ Santa Hortensia 15
Oficina A-1, 28002 Madrid
Spain
Number: +34-91-510-2805
Main Facsimile: +34-91-515-3644
9.
LCC United Arab Emirates
Building 1; P.O.Box 500043
Dubai Internet City
Dubai
UAE
Tel: +971-4391-3512
Fax: +971-4391-8667
10.LCC
UK Regional Headquarters
Capital Park
Fulbourn, Cambridge CB1 5XE United Kingdom
Main Number: +44 (0) 1223-883-999
Main Facsimile: +44 (0) 1223-883-998
11.LCC
UK Regional Office
9 Church Farm Business Park
Corston, Bath BA2 9AP United Kingdom
Main Number: +44 (0) 1225-876-400
Main Facsimile: +44 (0) 1225-876-401
ACTIVITIES
The
Company is involved in the following activities :
Building
and GSM network stations contractors.
Imports
worldwide.
FACILITIES
The
Company has the following facilities :
Office
premises and warehouse located at the heading address and branches in Oran and
Constantine, Tel: (213 31) 668 729.
SPECIAL NOTE
You
enquired on : Lccuk Algerie EURL "LCC"
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 |