MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Tacharoukiet El Naseem for Ice Cream & Dairy Foods |
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Registered Office : |
Kasr Ahmed KM 6, Misurata |
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Country : |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
7249 |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacture of dry, condensed and evaporated dairy
products |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
Registration Briefing
Registration Number: 7249
Registration Date: 1994
Legal Form: GENERAL PARTNERSHIP
Latest Financials: N/A
Financial Briefing
Nominal Capital: 20,000 Libyan Dinar
Issued Capital: N/A
Turnover: 30,000,000 Libyan Dinar
Net Profit: 3,000,000 Libyan Dinar
Net Worth: N/A
Rating Briefing
Current Recommended Credit: 410,300 EUR
Former Recommended Credit: N/A
Rating Trend: POSITIVE
Payment Record: NO COMPLAINTS
Original
Investigation Details
Company Name: TACHAROUKIET EL NASEEM CO
Country: LI
Street Name: KASR AHMED KH 5
City Code: MISURATA
Phone Number: 21851722003
Company Details
Company Name: Tacharoukiet El Naseem for Ice Cream & Dairy Foods
Also trades as: El Naseem
Headquarter Address: Kasr Ahmed KM 6,
Misurata,
Telephone: +21851 2723722
+21891 2105907
Fax: +21851 2721891
E‑Mail: info@alnaseemdairy.com
Web Site: www.alnaseemdairy.com
Company was originally started on 1994
Registration &
Legal Details
Current Legal Form: GENERAL PARTNERSHIP
Registration Address: Kasr Ahmed KM 6,
Misurata
Registration Number: 7249
Registration Date: 1994
Year/Date Company Established: 1994
Capital
Currency: Libyan Dinar
Partnership Capital: 20,000
Shareholders
Information on Shareholders is not available/applicable
Principals
Name: Mr Moustafa Abdel Karim El‑Reaidy
Position within the company: Partner & General manager
Country of Birth:
Nationality: Libyan
Can fluently speak: English & Arabic
Education:
Family Connections with: Mr. El‑Reaidy Family ( Brother of )
Name: Mr Mohamed Abdel Karim El‑Reaidy
Position within the company: Partner & General manager
Country of Birth:
Nationality: Libyan
Can fluently speak: English & Arabic
Education:
Family Connections with: Mr. El‑Reaidy Family ( Brother of )
Name: Mr Abdel Wakeel Abdel Karim El‑Reaidy
Position within the company: Administration Manager
Country of Birth:
Nationality: Libyan
Can fluently speak: English and Arabic
Education:
Family Connections with: Mr. El‑Reaidy Family ( Brother of )
Name: Mr Jebreel Abdel Karim El‑Reaidy
Position within the company: Import Manager
Country of Birth:
Nationality: Libyan
Can fluently speak: English and Arabic
Education:
Family Connections with: Mr. El‑Reaidy Family ( Brother of )
Company Activities
Sic Codes: 2023 Manufacture of dry, condensed, and evaporated dairy products ‑ 100%
The company deals in the following:
‑ Ice cream.
‑ Yoghourt.
‑ Milk.
‑ Other dairy products.
The company is an
importer of all production requisites from
The company doesn't export.
100% Importer.
100% Manufacturer.
100% Wholesaler.
Local Reporters consider the investigated company to be LARGE in their field of concern.
Operations
Employees Company Employs: 400
HQ Premises Operates from: Owned Office , Factory, Coldstore
Location: Industrial Area,
Branches El Zawya,
Branch is: Owned
Description of branch: Office, Warehouse
Souk El Gomaa,
Branch is: Owned
Description of branch: Warehouse
Imports
Import % and type of product: 100% Raw Materials
Imports From: United Kingdom,
Importing Terms: Letters of credit
Additional Information: Cash.
Importer of all production requisites.
Exports
Export % and type of product: Subject does not export
Trading & Selling
Territory: 100% Nationally
Type of Customer: General Public, Wholesalers, Retailers, Traders
Related Companies
Affiliates
Al Naseem Company for Food
Industries
Misurata,
Start Date: 2007
Operates as: The company is a private limited company, and all the affiliates companies will be merged with it.
Related through: common principals
Al Zahera for Food
Kasr Ahmed,
Misurata,
Start Date: 2000
Operates as: The company is an importer for foodstuff products( cheese ).
Related through: common principals
Al Zahera for Cleaning products
Misurata,
Start Date: 2006
Operates as: The company is an importer of cleaning requisites.
Related through: common principals
Al Takadom for import Industrial Equipments
Misurata,
Start Date: 2006
Related through: common principals
Asila
Kasr Ahmed Km 5,
Misurata,
Start Date: 2001
Operates as: The company is a manufacturer of sweets.
Related through: common principals
Other information: Tel. :218 51 2722003
Bankers
Al Goumhorya Bank,
Branch: Misurata
Misurata,
Commerce and Development Bank,
Branch: Misurata
Misurata,
L ibya
Financial Information
Source: Mr. Abdel Wakeel Abdel Karim El‑Reaidy Administration Manager
Figures are: Estimates
Currency: Libyan Dinar
Months Sales Figures Sales Gross Profit/Loss Net Profit/Loss
12 31/12/2007 50,000,000 (Projection) 5,000,000 (Projection)
12 31/12/2006 30,000,000.00 3,000,000
12 31/12/2005 10,000,000.00 1,000,000
12 31/12/2004 5,000,000.00 500,000
Payments
Subject's payments reported to be: NO COMPLAINTS
Interview &
Reporter Comments
Name/Title: Mr. Abdel Wakeel Abdel Karim El‑Reaidy Administration Manager
Comment: Subject has offered brief financial data only and refused to provide full financial
information.
Reporter Comment Date: 02/07/2007
Reporter Comment: It was reported that the company's full name was " Tacharoukiet El Naseem for
Ice Cream & Dairy Foods ", and traded as " El Naseem " .
It was reported that the company's address was " Kasr Ahmed Km 6, Misurata,
It was reported that the supplied telephone number within the original query was
for the affiliate company " Asila ".
The company is considered an old family business.
It was reported that there was a new company " El Nassem for Food Industries ",
this company is a private limited company, and all the owned companies will
merged in this company by the end of 2007.
It was reported that the increase of the sales depends on the increase of the
production capacity.
In the interview conducted with Mr. Abdel Wakeel Abdel Karim El‑Reaidy,
Administration manager, he declined banks account number and further financial
information citing the grounds of company confidentiality.
The business is owned & run by a small group of individual. Mr. Mohamed Abdel
Karim El‑Reaidy and Mr. Moustafa Abdel Karim El‑Reaidy share the liability of
the partnership. They share the authorization to sign & administrate.
Local company’s registry is inaccessible to inspect subject's file, therefore, all the
information shown in the report is through a direct contact with the subject you
are investigating.
Conclusions
Accounts Comments: Only Brief Financial data has been obtained by the subject, our
assessment and ratings are therefore based on the reliability of the data
obtained.
Local Reputation: The company being investigated is considered by local reporters to be a
Fair /
General Conclusion: Subject not legally obliged to produce or publish accounts
Owner/Shareholders Comments: All or most of the owners / shareholders have an active participation in
the running of the business.
Financial Results Trend: Financial Information indicates that the business activities of the
company are showing an upward turn.
Age of Business: The company is a long established family run business.
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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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%)