MIRA
INFORM REPORT
|
Report Date : |
05.12.2007 |
IDENTIFICATION
DETAILS
|
Name : |
ANDREAS PANAYI PRODROMOU AND SONS LIMITED |
|
|
|
|
Registered Office : |
20, Arch. Makarios III
Avenue, Nicosia, 2324 Lakatamia |
|
|
|
|
Country : |
Cyprus |
|
|
|
|
Date of Incorporation : |
08.10.2002 |
|
|
|
|
Com. Reg. No.: |
C133424 Nicosia |
|
|
|
|
Legal Form : |
Private Limited Liability Company |
|
|
|
|
Line of Business : |
Retailers and Wholesalers
of Women and children clothing, dowry goods (Sheets, towels, Blankets,
Curtains, textiles etc.) |
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 : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
NAME & ADDRESS
Correct Registered Name: ANDREAS PANAYI PRODROMOU AND SONS LIMITED
Address: 20, Arch. Makarios III Avenue
Nicosia
2324 Lakatamia CYPRUS
P.O.Box: N/A - N/A
Telephone: +357-22-324345
+357-22-335556
+357-99-639068
Email: N/A
Web: N/A
LEGAL STATUS
Legal Form: Private Limited
Liability Company
Date of
foundation: 2002
Registration
number and city: C133424 Nicosia
Registration date:
08.10.2002
Registration
status: 08.10.2002 -
registered company
Activity status: 08.10.2002
- active company
PRINCIPALS
|
SHAREHOLDERS: |
|
Full Name |
Function |
Nationality |
EQUITY |
Address |
|
Mr. Andreas Prodromou |
Shareholder |
CYPRUS |
100.00% |
23, Korinthiakou Street |
|
MANAGEMENT: |
|
Full Name |
Age |
Function |
Qualification |
Experience |
Address |
|
Mr. Andreas Prodromou |
47 |
Managing Director |
N/A |
N/A |
23, Korinthiakou Street |
|
Ms. Anna Prodromou |
46 |
Secretary |
N/A |
N/A |
23, Korinthiakou Street |
ACTIVITIES
Importers &
Distributors & Retailers & Wholesalers
OPERATIONS
NACE
main activity
5242 Retail sale of clothing
5141 Wholesale of textiles
SIC
main activity
5137 Women's, Children's, and Infants' Clothing and Accessories
5023 Homefurnishings (except homefurnishings sold via retail method)
Analysis:Imports (100%)
Distributors
Retailers, Wholesalers: Women and children clothing, dowry goods(Sheets,
towels, Blankets, Curtains, textiles etc.)
MOTOR VEHICLES
2007
Number of vans owned: 2
Total number of vehicles 2
IMPORTS
CHINA, INDIA, PAKISTAN
Payment terms:
Credit Facilities 90 days
CAD (Cash Against Documents)
EXPORTS
Not Applicable
AGENCIES
Name Country Product
Hussein Textiles PAKISTAN Textiles
Actina Corporation INDIA
Mustafa Industries PAKISTAN
TRADE SUPPLIERS
Name Country Product
Not Disclosed
NUMBER OF EMPLOYEES
8
WORKFORCE
2007
Total Workforce 8
DESCRIPTION OF PREMISES
HEADQUARTERS: The Company operates from rented premises which are located at the address given overleaf. Premises comprised of offices, shop and a large warehouse, covering approximately 500 Sq. meters.
BRANCHES
Subject maintains 3 branches / divisions:
a) Episkopi Area, Limassol.These are rented premises.Operate as
retail/wholesale shop and storage space.
b) Aglantzia Area, Nicosia.These are rented premises.Operate as
retail/wholesale shop and storage space.
c) Astromeritis Area, Nicosia.These are rented premises.Operate as
retail/wholesale shop and storage space.
RELATED COMPANIES
Sister Company
LELIKA LTD , CYPRUS , National ID: NIC041901
Sister Company
ROUCHOMANIA LIMITED , CYPRUS
"LELIKA LIMITED" - Sister Company which is currently DORMANT.
"ROUCHOMANIA LIMITED" - Sister Company which is currently DORMANT.
BANKERS
HELLENIC BANK LIMITED
173 Athalassas Avenue, Strovolos, 2025, Nicosia Tel:+357 22501813 Fax:+357 22501991
businessathalassa@hellenicbank.com
SHARE CAPITAL
Registered capital: CYP
5,000.00 since 08.10.2002
Number of Ordinary: 5,000
Value per share of Ordinary: CYP 1.00
Issued capital: CYP 5,000.00 since 08.10.2002
Number of Ordinary: 5000
Value per share of Ordinary:
CYP 1.00
Paid-up capital: CYP 5,000.00 since 08.10.2002
of which paid in cash: CYP
5,000.00
CHARGES
21.05.2003 Floating Charge on all Company's Assets CYP 30,000.00 in
f/o:Hellenic Bank (Factors) Limited
05.04.2006 Floating Charge on all Company's Assets CYP 30,000.00 in
f/o:Hellenic Bank Limited
PAYMENT
No complaints
GOOD FOR AMOUNT & TERMS OF
INQUIRY
Unable to comment
Due to the fact that no detailed financial information was released, we cannot
comment on such a high amount given in your inquiry.
COMMERCIAL MORALITY
Good
FINANCIAL STRENGTH
Moderate
GENERAL COMMENTS
The present
Limited Liability Company was established on 08/10/2002 by Mr Andreas
Prodromou, who is the owner and the Managing Director of the subject.
Company's activities centered around the import, mainly from China, India and
Pakistan, and trade on a wholesale and retail base of women and children wear,
as well as dowry goods.
Please note that Mr Prodromou kindly denied to release any further detailed
Financial Information regarding the Company in question.
Contact Person: Mr Andreas Prodromou
Position: Managing Director
Contact Tel.No.: +357 99639068
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 |
|
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%)