MIRA INFORM REPORT

 

 

Report Date :

7TH March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

EURL MOKHLISSE IMPORT EXPORT

 

 

Registered Office :

2 Cite Annasr, Ain Yagout, Batna, Algeria

 

 

Country :

Algeria

 

 

Date of Incorporation :

1998

 

 

Com. Reg. No.:

06B0223506

 

 

Legal Form :

Single Shareholder Limited Liability Company

 

 

Line of Business :

Importers, wholesalers and retailers of home furniture and truck spare parts.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

C

 

RATING

STATUS

PROPOSED CREDIT LINE

<10

C

Absolute credit risk exists. Caution needed to be exercised

Credit not recommended

 

Status :

Moderate

 

 

Payment Behaviour :

Unknown

 

 

Litigation :

Clear

 

 

 

 COMPANY NAME

 

EURL MOKHLISSE IMPORT EXPORT

 

 

ADDRESS

 

Street                           :  2 Cite Annasr

Area                             :  Ain Yagout

Town                 :  Batna

Country             :  Algeria

Telephone         :  (213 32) 450 205 / 7225 7559

Fax                   :  (213 32) 450 205

E-Mail               :  harketnabil@yahoo.com

 

 

SENIOR COMPANY PERSONNEL

 

   Name                                     Position

 

1. Nabil Harket                                       Managing Director

 

2. Hasni Harket                          General Manager

 

 

Total Employees : 12

 

 

PAYMENTS

 

Current trade experience of payments has not been traced.

 

The company has declined to provide financial information or to reveal any details relative to the extent of their operations.

 

Opinion on maximum credit : In the circumstances we recommend international suppliers deal on a strictly cash or prepaid basis.

 

Trade risk assessment : High

 

It is normal accepted practice for international suppliers to deal on secured terms with Algerian importers.

 

 

PRINCIPAL BANKERS

 

NAME               : BANQUE AL BARAKA ALGERIE

Branch              : 39 Avenue Boukhrissa Said

Town                 : Setif 19000

Telephone         : (213 36) 912 007

Fax                   : (213 36) 910 300

Acc No.            : 4012200107948

 

 

FINANCIAL INFORMATION

 

Balance sheets are not available. However, the subject interviewed offered the following information :

 

Sales Turnover               : AD 68,000,000 - 2005 - exact

                                    : AD 75,000,000 - 2006 - projected

 

Net Profit                       : not given but stated to be profitable

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started                  : 1998

 

C.R. No.                        : 06B0223506

 

Paid up Capital              : AD 20,000,000

 

 

Entreprise Unipersonnelle a Responsabilite Limitee (single shareholder limited liability company) with the following sole shareholder :

 

Allali Boukhriss

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers, wholesalers and retailers of home furniture and truck spare parts.

 

Imports from France, China and UAE (Dubai).

 

 

FACILITIES

 

The Company has the following facilities :

 

Offices premises located at the heading address.

 

The subject company operates 5 wholesale and retail outlets throughout the country.

 

 

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/normal.

 

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%)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions