MIRA INFORM REPORT

 

 

Report Date :

13th March, 2007

                                                         

IDENTIFICATION DETAILS

 

Name :

GENERAL DAIRY EURL

 

 

Registered Office :

Rue Boudjemaa Temime No 249, Draria, Algiers, Algeria

 

 

Country :

Algeria

 

 

Date of Incorporation :

2001

 

 

Com. Reg. No.:

02B0020604

 

 

Legal Form :

Single Shareholder Limited Liability Company

 

 

Line of Business :

Importers and wholesalers of dry fruit, vegetables and general foodstuff.

 

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

COMAPNY NAME

 

GENERAL DAIRY EURL

 

 

ADDRESS

 

Street                           :  Rue Boudjemaa Temime No 249

Area                             :  Draria

Town                 :  Algiers

Country             :  Algeria

Telephone         :  (213 21) 354 779 / 6153 1754

Fax                   :  (213 21) 354 779

 

 

SENIOR COMPANY PERSONNEL

 

Name                                        Position

 

Khaled Sidali Aouissi                 Managing Director

 

 

Total Employees : 8

 

 

PAYMENTS

 

No complaints have been heard regarding payments from local suppliers or banks.

 

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.

 

Trade risk assessment : Normal

 

 

PRINCIPAL BANKERS

 

NAME               : BANK AL BARAKA D'ALGERIE

Branch              : Ben Aknoun

Street                           : Hai Bouteldja Houidef, Villa No 1 Rocade Sud

Town                 : Algiers

Telephone         : (213 21) 916 450-55

Fax                   : (213 21) 916 457-58

 

 

FINANCIAL INFORMATION

 

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

 

Sales Turnover               : AD 500,000,000 - 2005 - exact

                                    : AD 750,000,000 - 2006 - exact

                  

Net Profit                       : not given but stated to be 12-15 %

 

Financial year ends 31 December.

 

 

LEGAL STATUS AND HISTORY

 

Date Started      : 2001

 

C.R. No.            : 02B0020604

 

Fiscal ID           : 000216530450748

 

Capital              : AD 20,000,000

 

 

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

 

Khaled Sidali Aouissi

 

 

ACTIVITIES

 

The Company is involved in the following activities :

 

Importers and wholesalers of dry fruit, vegetables and general foodstuff.

 

Imports from Brazil, Mexico, India, Iran, Turkey, South Africa, Ethiopia and Spain.

 

 

FACILITIES

 

The Company has the following facilities :

 

Office premises and warehouse located at the heading address. Subject has four rented warehouses comprising 3,500 sq.m. elsewhere in Algiers.

 

 

 

 

 

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