MIRA
INFORM REPORT
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Report Date : |
22.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
CLAS'VIT SARL |
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Registered Office : |
Oued Smar Industrial Area, P.O. Box BP 59, Algiers 16270 |
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Country : |
Algeria |
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Date of Incorporation : |
20.05.1972 |
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Com. Reg. No.: |
99B7790 |
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Legal Form : |
Limited liability company |
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Line of Business : |
Importers, manufacturers and wholesalers of school articles such as files, folders, notebooks and other office consumables. |
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 5,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COMPANY NAME
CLAS'VIT SARL
ADDRESS
Area : Oued Smar Industrial Area
P.O. Box : BP 59
Town : Algiers 16270
Country : Algeria
Telephone : (213 21) 516 294 / 513 765 / 513 766 / 513 765
Fax : (213 21) 516 029
E-Mail : clas@clasvit.com
SENIOR COMPANY
PERSONNEL
Name Position
1. Salah Ouled Daoud Managing Director
2. Kassem Baouchen Financial Director
3. Mohammed Ouled Daoud General Manager
Total Employees
80
PAYMENTS
No complaints have been heard regarding payments from local suppliers or banks.
The subject company is a well established company operating since 20 May 1972.
We consider it is acceptable to deal with subject for SMALL amounts, although it is normal accepted practice for international suppliers to deal on secured terms with Algerian importers.
Opinion on maximum credit: AD 5,000,000
Trade risk assessment: Normal
Opinion on the credit figure of EURO 50,000:
We consider the above figure to be within the company's financial capabilities.
TRADE REFERENCES
NAME : ESSELTE SAS
Street : 6 Rue Casteres
Town : 92110 Clichy
State : Paris
Country : France
PRINCIPAL BANKERS
NAME : SOCIETE GENERALE
Branch : 2 rue Hydra, Villa 1
PO Box : 294
Town : Algiers
Telephone : (213 21) 594 921
Fax : (213 21) 600 487
The company also has an account with the following banks:
1. Banque Exterieure d'Algerie (BEA)
11 Blvd Colonel Amiroche
Algiers 16000
Telephone: (213 21) 711 252
Fax : (213 21) 233 267
2. Arab Banking Coorporation Algeria (ABC)
54 Avenue des 3 freres
Bouaddou BP 367
Algiers 16005
Tel: (213 21) 541 515
Fax:(213 21) 541 604
FINANCIAL INFORMATION
Balance sheets are not available. However, the subject interviewed offered the following information :
Sales Turnover : AD 120,000,000 - 2005 - exact
: AD 135,000,000 - 2006 - exact
Net Profit : not given - 2005 -
: AD 13,500,000 - 2006 - exact
Financial year ends 31 December.
LEGAL STATUS AND
HISTORY
Date Started : 20 May 1972
C.R. No : 99B7790
Fiscal ID No : 097216159096409
Paid up Capital : AD 20,000,000
Societe a Responsibilite Limitee (limited liability company) with the following shareholders:
1. Mohammed Ouled Daoud
2. Salah Ouled Daoud
(son of the above)
3. Nasser Ouled Daoud
(son of the above)
4. Omar Ouled Daoud
(son of the above)
Affiliated companies of Clas'Vit SARL:
Associates
Societe Al Fares
Khemis Al Kheshna
Algiers
ACTIVITIES
The Company is involved in the following activities
Importers, manufacturers and wholesalers of school articles such as files, folders, notebooks and other office consumables
Imports from Germany, France, Italy and Spain
FACILITIES
The Company has the following facilities
Owned premises comprising administrative offices, factory and storage facilities located at the heading address.
SPECIAL NOTE
Please note that the address Z I OUED SMAR, 16310, provided by you is incorrect.
Please see the correct address at the heading.
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%)