MIRA
INFORM REPORT
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Report Date : |
28.07.2007 |
IDENTIFICATION DETAILS
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Name : |
Y & G CYPRUS LIVESTOCK SERVICES |
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Registered Office : |
78, |
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Country : |
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Date of Incorporation : |
09.05.1997 |
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Com. Reg. No.: |
C85941 |
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Legal Form : |
Private Limited
Liability Company |
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Line of Business : |
Imports and trade of frozen and chilled sperm, ovum, ova
and embryos of mammals. |
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 |
NAME & ADDRESS
Correct Registered
Name: Y & G CYPRUS LIVESTOCK
SERVICES
Address: 78,
2413
P.O.Box: N/A
Telephone: +357-357-22351242
Fax: +357-357-22354574
Email: hcostis@cytanet.com.cy
Web: N/A
LEGAL STATUS
Legal Form: Private Limited
Liability Company
Registration
number and city: C85941 Nicosia
Registration date:
09.05.1997
PRINCIPALS
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SHAREHOLDERS |
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Full Name |
Function |
Nationality |
EQUITY |
Address |
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Mr. George Hadjicosti |
Shareholder |
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50.00% |
78, |
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Mrs. Athenoulla Andrea Hadjicosti |
Shareholder |
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50.00% |
78, |
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MANAGEMENT |
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Full Name |
Age |
Function |
Qualification |
Experience |
Address |
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Mr. George Hadjicosti |
32 |
Director |
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78, Parthenonos Street, Makedonitissa |
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Mr. Andreas Hadjicosti |
60 |
Director / Secretary |
Vet |
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78, Parthenonos Street, Makedonitissa |
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Mrs. Athenoulla Andrea Hadjicosti |
56 |
Director |
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78, Parthenonos Street, Makedonitissa |
ACTIVITIES
Importers &
Services
OPERATIONS :
NACE
8520 Veterinary activities
SIC
0741 Veterinary Services for Livestock
The company was established in order to get involved in the imports (100%) and
trade of frozen and chilled sperm, ovum, ova and embryos of mammals.
Furthermore they import all the equipment and supplies for the application of
artificial insemination and embryos transfer.
The company employs 7 persons, where 4 of them are vets and 2 are working at
the company’s laboratory. They also provide veterinary services for productive
animals (cattle, swine, sheep and goats) and partially to pets (dogs and cats)
as well as horses. The company has more than 50% of the market share in Cyprus.
According to the person interviewed Y & G CYPRUS LIVESTOCK SERVICES LIMITED
is an evolving company.
MOTOR VEHICLES
Not disclosed
IMPORTS
UNITED
Payment terms:
CAD (Cash Against Documents) 30 days
CAD (Cash Against Documents) 120 days
EXPORTS
Payment terms:
CAD (Cash Against Documents) 30 days
AGENCIES
Name Country Product
Alta Genetics UNITED STATES
TRADE SUPPLIERS
Name Country Product
Same as agencies
NUMBER OF EMPLOYEES
7
DESCRIPTION OF
PREMISES
HEADQUARTERS
The company in
question is operating from owned premises that are located at the heading address.
Premises comprised of offices, laboratory and warehouse.
BRANCHES
Not applicable
RELATED COMPANIES
Not disclosed
BANKERS
BANK OF CYPRUS PUBLIC COMPANY LIMITED
(
MARFIN POPULAR BANK PUBLIC CO. LIMITED
35C, 28th October Avenue, Makedonitissa, 2414,
AUDITORS /
ACCOUNTANTS
Company: Not disclosed.
SHARE CAPITAL
Registered capital: CYP 5,000.00 since 09.05.1997
Number of Ordinary: 5,000
Value per share of Ordinary: CYP 1.00
Issued capital: CYP 5,000.00 since 09.05.1997
Number of Ordinary: 5000
Value per share of Ordinary: CYP 1.00
Paid-up capital: CYP 5,000.00 since 09.05.1997
of which paid in cash: CYP 5,000.00
CHARGES
None in current years
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FINANCE
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PAYMENT
No complaints
GOOD FOR AMOUNT & TERMS OF INQUIRY: Too high
Given the fact that no detailed financial information was released by the subject,
we feel unable to express a safe and reliable opinion on their creditability
and payment records. We believe though that the amount of your inquiry is far
too high for the company's capabilities. For that we suggest, that the amount
must be split in several lots and any transactions with them must be carried
out on secured base.
GENERAL COMMENTS
We contacted the company and talked with Mr Andreas Hadjicosti who confirmed all the details in this report. The subject has more than 50% of the market share in this field. Mr Hadjicostis stated that if anyone needs further information concerning the company should contact the company directly.
Please note that no further detailed Financial Information became available to
us; neither it was released by the subject. Further more, no Published Final
Accounts were filled in the company’s file kept with the local official
companies’ registry, as the law provides for all companies.
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%)