MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE DE TRANSFORMATION DE BOIS SPA |
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Registered Office : |
Rue de |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
8 March 1998 |
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Com. Reg. No.: |
98/B/182256 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturers of interior plywood and composite boards. Timber
processors, wholesalers and retailers. |
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 10,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clar |
COmpany NAME
SOCIETE DE TRANSFORMATION
DE BOIS SPA
ADDRESS
Street : Rue de l'Arriere Port
P.O. Box :
106
Town : 06000 Bejaia
Country :
Telephone :
(213 34) 211 296 / 211 297 / 211 146 / 211 147
Fax : (213 34) 212 537 / 212 525
E-Mail : transboisbejaia@wissal.dz
Trading Styles
Transbois
SENIOR COMPANY
PERSONNEL
Name Position
1. Beza Brouri Managing Director
2. Djilali Mebarki Financial
Director
3. Mourad Ziani Commercial
Director
4. Abdelkarim Sidali Production
Director
Total Employees
400
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
In 2002, 2003, 2004, 2005
subject incurred losses of AD 81,861,031, AD 58,695,323, AD 23,000,000 and AD
33,000,000 respectively. The company returned to profitability in 2006
financial year.
We consider it is
acceptable to deal with subject for MEDIUM amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Algerian importers.
Opinion on maximum credit
: AD 10,000,000 (due attention will be given to above remarks)
Trade risk assessment :
Opinion on the credit
figure of EURO 100,000:
We consider the above
figure to be within the company's financial capabilities.
TRADE REFERENCES
NAME :
FC LASPASADE
Street :
Zone Artibois
Town :
Artiquelouve
State :
64230 Lescar
Country :
NAME :
St CALVET & FILS
Street :
3 Rue Louis Juttt
Town :
State :
Aumoni d'or
Country :
NAME :
BIMEX Ltd
Street :
Avenue Revolution
Town :
18 mACHE
Country :
Setchelles
NAME :
POLISAN TUNISIE
Street :
Zone Industriel
Town :
Ben Arous 2013
Country :
NAME :
SARL MEDIANE
Street :
2 Rue des Lilas
Town :
Aspach Le Bas 68700
Country :
PRINCIPAL BANKERS
NAME :
BANQUE NATIONALE D'ALGERIE No 356
Branch :
4, PI 1er Novembre
Town :
Bejai 06000
Telephone : (213 34) 212 046
Fax :
(213 34) 212 046
FINANCIAL INFORMATION
Balance sheets as 31
December showed:
ASSETS
2006
(in AD)
Land 225,140,000
Equipment 328,749,739
Social Equipment 3,379,231
Total 557,268,970
Stocks 127,092,110
Trade Payable and
Related Accounts 197,512,530
Net Profit 29,862,604
Total Assets 911,736,214
Liabilities and Shareholders Equities
Shareholders Equities
Share Capital 281,250,000
Reserves 100,000
Other Funds 696,536,211
Balance Carried
Forward (324,210,210)
Provisions for loss and 12,411,298
costs
Total 666,087,299
Liabilities
Investment 366,951
Accounts payable 1,539,912
Stock liabilities 121,436,656
Borrowings 56,063,615
Liabilities to
Affiliated Companies 786,876
Operating Liabilities 45,645,596
Financial Liabilities 19,808,309
Accounts Payable
Total 911,736,214
PROFIT AND LOSS ACCOUNT
Sales Turnover : AD 523,382,000 - 2002 - exact
: AD 538,238,000 - 2003 - exact
: AD 650,000,000 - 2004 - exact
: AD 678,000,000 - 2005 - exact
: AD 513,071,531 - 2006 - exact
Loss : AD (81,861,031)- 2002 - exact
: AD (58,695,323)- 2003 - exact
: AD (23,000,000)- 2004 - exact
: AD (33,000,000)- 2005 - exact
Net Profit :
AD 29,862,603 - 2006 - exact
LEGAL STATUS AND
HISTORY
Date Started : 8 March
1998
History : Subject has its
origin in SNLB (National Company of Lieges and Bois) established in 1973 and
split in 1998. The company was
incorporated in
C.R. No. : 98/B/182256
Fiscal ID: 099806010006541
Authorised & Paid up
Capital : AD 281,250,000
Societe par Actions
(joint stock company) with the following sole shareholder :
Group Wood Manufacturing
timber processors
(50% state owned)
ACTIVITIES
The Company is involved in
the following activities :
Manufacturers of interior
plywood and composite boards. Timber processors, wholesalers and retailers.
Imports from
FACILITIES
The Company has the
following facilities :
138,975 sq. m. owned
premises comprising manufacturing plant, warehouses and offices located at the
heading address.
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%)