MIRA
INFORM REPORT
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Report Date : |
07.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MAGHREB TRUCK COMPANY SPA |
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Registered Office : |
4 Rue Victor Hugo, |
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Country : |
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Date of Incorporation : |
2003 |
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Com. Reg. No.: |
02B19205 |
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Legal Form : |
Joint Stock Company |
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Line of Business : |
Manufacturers and assemblers of heavy duty trucks. |
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 50,000,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
COmpany NAME
MAGHREB TRUCK COMPANY SPA
ADDRESS
Street : 4 Rue Victor Hugo
Town :
Country :
Telephone :
(213 21) 747 262
Fax : (213 21) 747 263
E-Mail : contacts@mtc-man.com
Shortform Name
MTC
SENIOR COMPANY
PERSONNEL
Name Position
1. Nabil Salhi Chairman / Managing Director
2. Abdelrahman Salhi Adminsitrative
Manager
3. Mohammed Mellaz Financial
Director
Total Employees
185
PAYMENTS
No complaints have been
heard regarding payments from local suppliers or banks.
We consider it is
acceptable to deal with subject for LARGE amounts, although it is normal
accepted practice for international suppliers to deal on secured terms with
Algerian importers.
Opinion on maximum credit
: AD 50,000,000
Trade risk assessment :
Opinion on the credit
figure of EURO 500,000 :
We consider the above figure
to be within the company's financial capabilities.
TRADE REFERENCES
NAME :
MAN AG
Street :
Ungererstraße 69
Town :
München 80713
Country :
Telephone : (49) 89 36098 / 0
Fax :
(49) 89 36098 / 250
PRINCIPAL BANKERS
NAME :
BNP PARIBAS EL DJAZAIR
Branch :
Hydra
Street :
10, Rue Abou Nouas
Town :
Telephone : (213 21) 603 942 / 603 929
Fax :
(213 21) 603 929
The company also has an
account with the following bank :
Banque Nationale
D'Algerie
Blvd Ernesto Che Guevara
8
Telephone: (213 21) 714
748
Fax :
(213 21) 712 424
FINANCIAL INFORMATION
Balance sheets are not
available. However, the subject interviewed offered the following information :
Sales Turnover : EURO
15,000,000 - 2003 - exact
: EURO
35,000,000 - 2004 - exact
: EURO
35,000,000 - 2005 - approx
: AD 5,400,000,000 - 2006 - exact
Net Profit :
not given - 2003 - 2005
: AD
200,000,000 - 2006 - exact
LEGAL STATUS AND
HISTORY
Date Started : 2003
C.R. No. : 02B19205
Capital : AD 400,000,000
Societe par Actions
(joint stock company) with the following shareholders :
Percentage
1. DBK Box SARL 42 %
2. Sotraco )
Rue D'Alger )
Tizi Ouzou )
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3. AHT SPA )
) 58 %
4. SARL DCS )
)
5. Nabil Salhi )
)
6. Amar Salhi )
)
7. Mourad Salhi )
Affiliated companies of
Maghreb Truck Company SPA :
Associates
Franca Bank El
Djazair (7%)
ACTIVITIES
The Company is involved
in the following activities :
Manufacturers and
assemblers of heavy duty trucks.
Imports components and
spare parts rom
Exclusive distributors of
MAN Nutzfahrzeuge AG.
FACILITIES
The Company has the
following facilities :
Offices and showroom
located at the heading address.
The factory is located
30km away from the offices at Ouad Smar Industrial Zone, Tel: (213 21) 513 336
/ 513 831-33, Fax: (213 21)
513 829-30.
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%)