MIRA
INFORM REPORT
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Report Date : |
02.05.2007 |
IDENTIFICATION
DETAILS
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Name : |
VETERINAIRE ANIMAL MEDICAMENT SARL VETAM |
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Registered Office : |
Bloc B, 54 Rue du 1er Novembre, Promotion Immobiliere Elgunina, P. O. Box 19600 Setif, El Eulma |
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Country : |
Algeria |
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Date of Incorporation : |
October 1994 |
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Com. Reg. No.: |
99B0082942 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Trading as importers and exporters of veterinary products. |
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 7,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
VETERINAIRE ANIMAL
MEDICAMENT SARL VETAM (Correct)
SARL VETAM (Requested)
ADDRESS
Building :
Bloc B
Street : 54 Rue du 1er Novembre
Area : Promotion Immobiliere Elgunina
P.O. Box :
19600 Setif
Town : El Eulma
Country : Algeria
Telephone :
(213 36) 874 545 / 874 466 / (213 70) 983 406 (mobile)
Fax : (213 36) 864 891
Shortform Name
VETAM
SENIOR COMPANY
PERSONNEL
Name Position
1. Khier Djemili Managing
Director
2. Seridi Chafiya Director
Total Employees
20
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.
Opinion on maximum credit
: AD 7,500,000
Trade risk assessment:
Normal
Opinion on the credit
figure of US DLRS 300,000 :
The above figure is
higher than normally seen in one amount, however could prove admissible in a
short series of transactions provided the total indebtedness is strictly
monitored.
PRINCIPAL BANKERS
NAME :
BANQUE DU DEVELOPPEMENT LOCAL SPA
Branch :
Rue Gaci Amar Staqueli 5
Town : Algiers
Telephone : (2) 392820
Fax :
(2) 393766
The company also has an
account with the following bank:
Societe Generale
2 rue Hydra, Villa 1
PO Box : 294
Town : Algiers
Telephone : (2) 594921
Fax : (2) 600487
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : AD 200,000,000 - 2005 - exact
: AD 310,000,000 - 2006 - exact
: AD 400,000,000 - 2007 - projected
Net Profit : not given
LEGAL STATUS AND
HISTORY
Date Started : October 1994
C.R. No. : 99B0082942
Capital : AD 50,000,000
Societe a Responsibilite
Limitee (limited liability company) with the following shareholders :
1. Khier Djemili
2. Seridi Chafiya
(wife of the above)
ACTIVITIES
The Company is involved
in the following activities :
Trading as importers and
exporters of veterinary products.
Imports from Europe.
FACILITIES
The Company has the
following facilities :
Premises comprising
offices and storage facilities located at the heading address.
SPECIAL NOTE
You enquired on : Sarl
Vetam, please note the correct subject's name per heading section.
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%)