MIRA
INFORM REPORT
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Report Date : |
01.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
A EPIPHANIOU INDUSTRIES |
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Formerly Known As: |
OERLIKON ELECTRODES LIMITED |
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Registered Office : |
Agios Athanasios Industrial Area, 42, Iapetou Street, Limassol, 4101, Agios Athanasios |
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Country : |
Cyprus |
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Financials (as on) : |
31.03.2006 |
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Date of Incorporation : |
01.01.1971 |
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Com. Reg. No.: |
C7496 Nicosia |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers & Wholesalers & Manufacturers & Exporters & Distributors |
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 |
Correct Registered Name
A. EPIPHANIOU INDUSTRIES LIMITED
Other Trading name
INTERWELD
Address
Agios Athanasios Industrial Area, 42, Iapetou Street, Limassol, 4101
Agios Athanasios CYPRUS
P.O.Box
54292 - 3722 Limassol
Telephone
+357-25-811144
Fax
+357-25-720021
Email
Web
www.epiphaniou-group.com (Under Construction)
LEGAL STATUS
Legal Form : Private
Limited Liability Company
Date of foundation : 01.01.1971
Registration
number and city : C7496 Nicosia
Registration date :
24.10.1975
Present Style
Adopted on : 24.03.1993
Former registration name : OERLIKON ELECTRODES LIMITED, valid since: 24.10.1975,
until: 24.03.1999
Former company
names : OERLIKON ELECTRODES LIMITED
Registration
status : registered
company
Activity status :
active company
PRINCIPALS
SHAREHOLDERS:
|
Full Name |
Function |
Nationality |
EQUITY |
Address |
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PARASKEVAS D LORDOS LIMITED |
Shareholder |
|
9.00% |
28th October Ave - MEDITERRANEAN COURT |
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Mr. Andreas N. Epiphaniou |
Shareholder |
CYPRUS |
18.00% |
Anna Court, Flat 7, 28th Octovriou Street |
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Ms. Elli A. Epiphaniou |
Shareholder |
CYPRUS |
18.00% |
Anna Court, Flat 7, 28th Octovriou Street |
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Ms. Marina A. Epiphaniou |
Shareholder |
CYPRUS |
15.00% |
Anna Court, Flat 7, 28th Octovriou Street |
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Mr. Phanos N. Epiphaniou |
Shareholder |
CYPRUS |
10.00% |
7, Katsantoni Street |
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Mr. Nicolas A. Epiphaniou |
Shareholder |
CYPRUS |
15.00% |
Block A, Anna Court, Flat 7, Georgiou A
Avenue |
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Ms. Athina A. Epiphaniou |
Shareholder |
CYPRUS |
15.00% |
Block A, Anna Court, Flat 7, Georgiou A
Avenue |
MANAGEMENT
|
Full Name |
Age |
Function |
Qualification |
Experience |
Address |
|
Ms. Marina A. Epiphaniou |
|
Director |
N/A |
Also associated with A Epiphaniou Trading,
A Epiphaniou Developers |
Anna Court, Flat 7, 28th Octovriou Street |
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Mr. Phanos N. Epiphaniou |
|
Director |
N/A |
N/A |
7, Katsantoni Street |
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Mr. Nicolas A. Epiphaniou |
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Director / Secretary |
N/A |
Also a director of Interyachting Limited. |
Block A, Anna Court, Flat 7, Georgiou A
Avenue |
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Mr. Andreas N. Epiphaniou |
64 |
Managing Director |
N/A |
Also a director of Lordos & Epihaniou
Ltd, Lordos & Kyriakides Ltd, Domoplex Ltd, Phanos N Epiphaniou Ltd,
Epiphaniou Scrap Metals Ltd. Also associated with A Epiphaniou Trading, A
Epiphaniou Developers. |
Anna Court, Flat 7, 28th Octovriou Street |
|
Ms. Elli A. Epiphaniou |
61 |
Director |
N/A |
Also associated with A Epiphaniou Trading,
A Epiphaniou Developers |
Anna Court, Flat 7, 28th Octovriou Street |
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Ms. Athina A. Epiphaniou |
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Director |
N/A |
N/A |
Block A, Anna Court, Flat 7, Georgiou A
Avenue |
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Mr. Demetris Hajdimanolis |
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General Manager |
N/A |
N/A |
CYPRUS |
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Mr. Yiannis Andorkas |
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Production Manager Dept. |
N/A |
N/A |
CYPRUS |
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Ms. Soulla Stylianou |
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Accountant |
N/A |
N/A |
N/A |
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Mr. Stavros Stavrou |
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Sales Manager |
N/A |
N/A |
CYPRUS |
ACTIVITIES
Importers & Wholesalers & Manufacturers & Exporters & Distributors
OPERATIONS
NACE
2873 Manufacture of wire products
SIC
main activity
5031 Lumber, Plywood, Millwork, and Wood Panels
3548 Electric and Gas Welding and Soldering
Equipment (except transformers for arc-welding)
1742 Plastering, Drywall, Acoustical, and Insulation Work
5084 Industrial Machinery and Equipment
5099 Durable Goods, NEC
Analysis : Importers (100%)
Exporters (5% of their production).
Distributors
This is a manufacturing company of welding machines, welding wires, welding
electrodes. The raw materials (iron and chemicals) are also imported. Apart
from the production of these products, the company imports and sells to the
Cyprus market goods such as building materials, safety equipment, tools,
netwires, welding and cutting machines, fume extractions etc.
MOTOR VEHICLES 2007
Number of vans owned : 6
Number of saloon cars owned : 5
Number of trucks owned : 4
Total number of vehicles
15
IMPORTS
GREECE, CZECH
REPUBLIC, HUNGARY, BELGIUM, GERMANY, UNITED KINGDOM, FRANCE, ITALY, CHINA
Payment terms:
Prepayment / Advance Payment
CAD (Cash Against Documents)
EXPORTS
UNITED KINGDOM,
GREECE, IRELAND, UNITED ARAB EMIRATES, LEBANON
Payment terms:
Special Agreements 90 days
AGENCIES
Name Country Product
"Vali Zaban" ITALY insulation materials
"Baqou Intesafe" FRANCE
"Gaston Mille" FRANCE
and others.
TRADE SUPPLIERS
Name Country Product
Not Disclosed
NUMBER OF EMPLOYEES
40
WORKFORCE: 2007 2006
Total Workforce 40 40
DESCRIPTION OF PREMISES
HEADQUARTERS: The company is operating from its own, large
size premises that comprised of office, factory, warehouse, yard, covering
approximately 4,500 square metres at heading address. Their well equipped
premises are located at the address given overleaf.
BRANCHES: None.
RELATED COMPANIES
Sister Company
A. EPIPHANIOU TRADING LIMITED , CYPRUS
Sister Company
DOMOPLEX LIMITED , CYPRUS , National ID: LIM015801
Sister Company
EPIPHANIOU SCRAP METAL LIMITED , CYPRUS , National ID: NIC233005
Sister Company
INTERYACHTING LIMITED , CYPRUS , National ID: LIM024807
Associated Company
OSMACO MARKETING CO. LIMITED , CYPRUS , National ID: NIC037010
Associated Company
PHANOS N EPIPHANIOU BROS LIMITED , CYPRUS
Sister Company
PHANOS N. EPIPHANIOU LIMITED , CYPRUS , National ID: FAM000301
"Phanos N. Epiphaniou Ltd" - Sister company, established in 1959. It
is involved in the trade of building materials, sanitary ware and fittings,
kitchen sinks, ceramic tiles, steel products, glass blocks, metal products,
tools, machinery, technical buildings and construction material and air
conditioners.
"A. Epiphaniou Trading Ltd” – Sister company, involved in the trade of
Catering equipment (for hotels and restaurants) general traders. Kitchen
utensils (i.e. glass ware, chinaware, ceramics, etc.).
"Domoplex Ltd” – Sister company, acting as manufacturers of weldmesh. It
was established in 1983.
"Interyauting Ltd” - Sister company, is dealing with the trade of yachting
and marine equipment and accessories. They are also providing services, such as
yacht,chartering, sailing school, marine services, etc.
"Osmaco Marketing Ltd” - Associated company, operates as traders of
commercial and industrial cleaning equipment, entrance automation and interiors
(i.e. fabrics and furniture).
"Phanos N. Epiphaniou Bros. Ltd” – Associated company, acting as Importers
of animal feed, concentrates, soybean meal, fish meal, etc. It was established
in 1968.
"Epiphaniou Scrap Metals Ltd” - Sister company founded in 1969. They are
the largest scrap ferrous and non-ferrous processors in Cyprus.
BANKERS
BANK OF CYPRUS PUBLIC COMPANY LIMITED
121,Corner Gr.Digeni & G.Neophytou, 3101, Linopetra, Limassol, (c/o Mr
Nicos Sofroniou) Tel.:+357 25855300 Fax:+357 25583958
MARFIN POPULAR BANK PUBLIC CO. LIMITED
123 Grivas Dighenis Ave. & G. Neophytou , Linopetra, Limassol, (c/o Ms
Marina Fylasidou) Tel:+357 25815000 Fax:+357 25815549
PRESS
19.07.2007,
www.eazybuild.com
A. EPIPHANIOU INDUSTRIES LTD has being supplying the home market with Personal
Safety Equipment and other industrial products for over fifteen years.
Our Company, which is nowadays one of the biggest Cyprus firms which is
specialized in the above mentioned equipment, is offering branded products
which are manufactured in Europe and other parts of the world under very strict
quality control methods.
Our competitive prices in combination of the high quality of the products of A.
EPIPHANIOU INDUSTRIES LTD as well as our customer service is a continuous
objective.
AUDITORS / ACCOUNTANTS
Financials have been audited
Company: PricewaterhouseCoopers, City House, 6 Karaiskakis Street, CY-3032
Limassol, Cyprus
SHARE CAPITAL:
Registered capital: CYP
200,000.00 since 20.12.1983
Number of Ordinary: 200,000
Value per share of Ordinary: CYP
1.00
Issued capital: CYP 200,000.00 since 20.12.1983
Number of Ordinary: 200000
Value per share of Ordinary: CYP 1.00
Paid-up capital: CYP 200,000.00 since 20.12.1983
of which paid in cash: CYP
200,000.00
CHARGES:
|
28.12.1977 |
Fixed Charge on the Company's Machinery |
CYP 7,050.00 |
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in f/o:Bank of Cyprus Limited |
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28.12.1977 |
Charge on the Debit Debenture |
CYP 50,000.00 |
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in f/o:Bank of Cyprus Limited |
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07.04.1979 |
Charge on the Debit Debenture |
CYP 50,000.00 |
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in f/o:Bank of Cyprus Limited |
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09.06.1981 |
Fixed Charge on the Company's Machinery |
CYP 14,480.00 |
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in f/o:Bank of Cyprus Limited |
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09.06.1981 |
Charge on the Debit Debenture |
CYP 30,000.00 |
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in f/o:Bank of Cyprus Limited |
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12.06.1981 |
Mortgage |
CYP 50,000.00 |
Y1872/81 |
in f/o:Bank of Cyprus Limited |
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29.12.1983 |
Fixed Charge on the Company's Machinery |
CYP 20,000.00 |
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in f/o:Bank of Cyprus Limited |
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29.12.1983 |
Fixed Charge on the Company's Machinery |
CYP 30,000.00 |
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in f/o:Bank of Cyprus Limited |
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20.02.1985 |
Charge on the Debit Debenture |
CYP 60,000.00 |
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in f/o:Bank of Cyprus Limited |
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15.07.1986 |
Mortgage |
CYP 270,000.00 |
Y3801/86 |
in f/o:Bank of Cyprus Limited |
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18.07.1986 |
Fixed Charge on the Company's Machinery |
CYP 20,000.00 |
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in f/o:Bank of Cyprus Limited |
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26.10.1987 |
Charge on the Debit Debenture |
CYP 10,000.00 |
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in f/o:Bank of
Cyprus Limited |
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26.04.1988 |
Fixed Charge |
CYP 6,000.00 |
On company's
computers |
in f/o:Bank of
Cyprus Limited |
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28.11.1988 |
Floating Charge on all Company's Assets |
CYP 50,000.00 |
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in f/o:Bank of
Cyprus Limited |
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26.01.1990 |
Mortgage |
CYP 50,000.00 |
Y503/90 |
in f/o:Bank of
Cyprus Limited |
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02.11.1990 |
Floating Charge on all Company's Assets |
CYP 150,000.00 |
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in f/o:Cyprus
Development Bank Limited |
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08.11.1990 |
Mortgage |
CYP 100,000.00 |
Y6856/90 |
in f/o:Cyprus
Development Bank Limited |
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02.11.1992 |
Fixed Charge on the Company's Machinery |
CYP 60,000.00 |
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in f/o:Bank of
Cyprus Limited |
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12.01.1993 |
Fixed Charge on the Company's Machinery |
CYP 200,000.00 |
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in f/o:Cyprus
Development Bank Limited |
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08.08.1995 |
Mortgage |
CYP 30,000.00 |
Y5653/95 |
in f/o:Cyprus
Development Bank Limited |
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07.12.1995 |
Fixed Charge on the Company's Machinery |
CYP 58,060.00 |
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in f/o:Bank of
Cyprus Limited |
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13.12.1996 |
Floating Charge on all Company's Assets |
CYP 100,000.00 |
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in f/o:Bank of
Cyprus Limited |
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26.09.2000 |
Mortgage |
CYP 100,000.00 |
Y6149/00 |
in f/o:Bank of
Cyprus Limited |
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28.03.2001 |
Fixed Charge on the Company's Machinery |
CYP 60,000.00 |
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in f/o:Cyprus
Development Bank Limited |
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16.12.2004 |
Assignment of buying-selling contract |
CYP 60,000.00 |
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in f/o:Bank of
Cyprus Limited |
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26.10.1987 |
Fixed Charge on the Company's Machinery |
CYP 19,200.00 |
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in f/o:Bank of
Cyprus Limited |
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23.03.1982 |
Mortgage |
CYP 10,000.00 |
Y1196/82 |
in f/o:Bank of
Cyprus Limited |
FINANCE
|
Amounts shown in Cyprus Pounds (CYP) |
2006 |
2005 |
2004 |
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Sales Turnover |
2,700,000.00
(Targeted) |
2,519,019.00
(Yearly) |
2,737,546.00
(Yearly) |
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Cost of Sales |
|
-1,828,142.00 |
-2,107,944.00 |
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Gross Profit |
|
690,877.00 |
629,600.00 |
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Selling / Distribution / Promotional Expenses |
|
-331,400.00 |
-319,538.00 |
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Operational Profit |
|
183,200.00 |
86,094.00 |
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Profit Before Taxation |
|
168,209.00 |
84,980.00 |
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Net Profit |
|
153,718.00 |
76,015.00 |
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Other (Expenses) / Income |
|
111,263.00 |
87,014.00 |
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Financial Costs |
|
-126,210.00 |
-116,231.00 |
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Taxation |
|
-14,491.00 |
-8,965.00 |
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Property, Plant & Equipment |
|
347,926.00 |
368,068.00 |
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Investment in Affiliated and Associated Units |
|
550,918.00 |
487,949.00 |
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Total Fixed Assets |
|
898,844.00 |
856,017.00 |
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Inventory / Stock |
|
1,149,188.00 |
1,070,452.00 |
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Total Current Assets |
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2,287,809.00 |
2,217,632.00 |
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Total Assets |
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3,186,653.00 |
3,073,649.00 |
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Reserves |
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1,148,712.00 |
1,067,786.00 |
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Total Shareholders Equity |
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1,348,712.00 |
1,067,786.00 |
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Long - Term Loans |
|
71,113.00 |
173,060.00 |
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Current Liabilities |
|
1,183,597.00 |
1,008,214.00 |
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Total Current Liabilities |
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1,766,828.00 |
1,632,803.00 |
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Total Equity & Liabilities |
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3,186,653.00 |
3,073,641.00 |
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Share Capital |
|
200,000.00 |
200,000.00 |
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Creditors |
|
552,827.00 |
598,069.00 |
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Other Creditors |
|
30,404.00 |
26,520.00 |
RATIOS
2006 2005 2004
Return on assets ( ROA )
Net profit before tax and interest/
Total assets - 0.05 0.03
Current ratio ( CR )
Current assets / Current liabilities - 1.29 1.36
PAYMENT
No complaints
COMMERCIAL MORALITY
Good
FINANCIAL STRENGTH
Good
GENERAL COMMENTS
The present limited liability company was established in 1971, under the
name of “Oerlikon Electrodes” and they were manufacturing electrodes under
license of “Oerlicon Electrodes” of Switzerland.
On 1992 their agreement ended but they reached an agreement with “Oerlicon
Electrodes” to pay them certain royalties and continue producing products on
their specification.
They manufacture welding electrodes, wires, net wires, nails, CO2 electrodes
and further they are traders of safety equipment and building materials.
The company also undertakes the distribution of products to clients who are
scattered all over the island. Raw materials used by the company are imported
mainly form European Countries.
According to Mr. Demetris Hadjimanolis company’s exports decreased dramatically
during in the last year due to their strong rivals in China. Despite
the loss of share in the international market the company managed to offset the
loss by expanding their operations in the national market.
The company’s production is known for its high quality, inspection at every
stage of production process from raw material tot he finished product
conforming to ISO 9002. They are also renowned for its punctual delivery,
flexibility and complete customer satisfaction.
Finally the company is a leading one in this field, its principals are well
known and it is considered trustworthy for normal credit requirements.
Contact Person: Mr. Demetris Hadjimanolis
Position: General Manager
Contact Tel.No.: +357 25811144
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. |
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 |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)