MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
CASTIHYGIENE
SARL |
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Registered Office : |
98 Zone Industrielle de
Bou Ismail, Bou Ismail 42415, Tipaza, Algeria |
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Country : |
Algeria |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
98B522138 |
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Legal Form : |
Limited
Liability Company |
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Line of Business : |
Manufacturers
of hygienic products for women and babies. |
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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Maximum Credit Limit : |
AD
5,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
CASTIHYGIENE SARL
(Correct)
CASTIHIGYENNE SARL
(Requested)
ADDRESS
Area : 98 Zone Industrielle de Bou Ismail
Town : Bou Ismail 42415
Province :
Tipaza
Country : Algeria
Telephone :
(213 24) 462 107
Fax : (213 24) 462 147
SENIOR COMPANY PERSONNEL
Name
Position
1. Ali Touati Managing Director
2. Mr Smair Chife Accountant
Total Employees : 100
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
Subject is a well
established family owned business operating since 1988.
We consider it is
acceptable to deal with subject for SMALL amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Algerian importers.
Opinion on maximum credit
: AD 5,500,000
Trade risk assessment : Normal
PRINCIPAL BANKERS
NAME :
BANQUE NATIONALE D'ALGERIE (BNA)
Branch :
Blvd Ernesto Che Guevara 8
Town :
Algiers
Telephone : (213 21) 714748
Fax :
(213 21) 712424
Subject operates with BNA
main branch in Blida.
FINANCIAL INFORMATION
Balance sheets as at 31
December show (latest available) :
Land : AD 600,000
- 2001 - exact
Buildings :
AD 2,335,693 - 2001 - exact
Equipment : AD 840,348 - 2001 - exact
Material and tools :
AD 13,730,299 - 2001 - exact
Transport :
AD 2,933,500 - 2001 - exact
Other fixed assets :
AD 583,800 - 2001 - exact
Stocks :
AD 9,451,439 - 2001 - exact
Due from investments : AD
91,284,868 - 2001 - exact
Due from affiliates : AD
6,803,575 - 2001 - exact
Due from clients :
AD 13,442,725 - 2001 - exact
Cash &
equivalents : AD 50,119,455 - 2001
- exact
Other current assets : AD
1,367,772 - 2001 - exact
Total assets :
AD 193,493,514 - 2001 - exact
LIABILITIES
Total equity :
AD 38,154,250 - 2001 - exact
Due to banks :
AD 27,000,000 - 2001 - exact
Due to other lenders : AD
43,380 - 2001 - exact
Due to shareholders' : AD
18,988,550 - 2001 - exact current accounts
Due to suppliers :
AD 17,964,276 - 2001 - exact
Taxes & charges :
AD 3,816,811 - 2001 - exact
Other liabilities :
AD 5,452,892 - 2001 - exact
Total liabilities :
AD 111,420,172 - 2001 - exact
Profit for the year : AD
82,073,342 - 2001 - exact
Total liab.& equity : AD 193,493,514 - 2001 - exact
INCOME STATEMENT
Sales turnover :
AD 95,746,169 - 2000 - exact
: AD 197,655,785 - 2001 - exact
:
AD 250,000,000 - 2002 - exact
: AD
300,000,000 - 2003 - exact
: not given
- 2004 - 2005
: AD 300,000,000 - 2006 - approx
Net Profit :
AD 34,148,602 - 2000 - exact
: AD
82,063,342 - 2001 - exact
: not given but stated to be
profitable -
2002-2006
LEGAL STATUS AND HISTORY
Date Started : 1988
History : The company was established as a
proprietorship owned by Ali Touati in 1988. In 1998,
it
became a Limited Liability Company and subsequently adopted the present style.
C.R. No. : 98B522138
Tax ID No. : 099842260113430
Paid up Capital : AD 151,000,000 (increased from AD 26,000,000
in June 2006; increased from AD
2,800,000)
Societe a Responsibilite
Limitee (Limited Liability Company) with the following shareholders :
Percentage
1. Ali Touati 34%
2. Mohamed Said
Touati 33%
3. Aliedine Touati 33%
Affiliated companies of Castihygiene Sarl :
Associates
Ayan SARL
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers of hygienic
products for women and babies.
Imports raw materials
mainly from Italy, Spain, Belgium, France, USA and Germany.
Subject plans to start
exporting in the future.
Principal overseas
suppliers :
- Tartas, France
- Cogesie, Spain
- ADMA, Italy
- Tenotese, Italy
FACILITIES
The Company has the following
facilities :
Owned office premises,
factory and storage facilities located at the heading address.
SPECIAL NOTE
You enquired on :
CASTIHIGYENNE SARL
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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