MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
CORPOTRADE (CYPRUS) LIMITED |
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Registered Office : |
Pyla Area, 1, Kiniras Street, 7081 Larnaca, P. O. Box 42687 - 6501 Larnaca |
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Country : |
Cyprus |
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Date of Incorporation : |
01.01.1990 |
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Com. Reg. No.: |
C38896 Nicosia |
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Legal Form : |
Private Limited Liability Company / International Business Company (IBC) |
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Line of Business : |
Trade of glass and glass related 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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
Correct Registered Name: CORPOTRADE (CYPRUS) LIMITED
Address: Pyla Area, 1,Kiniras Street
7081 Larnaca CYPRUS
P.O.Box: 42687 - 6501 Larnaca
Telephone: +357-24-822833
+357-24-644241
Fax: +357-24-822800
Email: habib@corpotrade.com
Web: www.corpotrade.com
LEGAL STATUS
Legal Form: Private Limited Liability Company / International Business Company (IBC)
Date of foundation: 01.01.1990
Registration number and city: C38896 Nicosia
Registration date: 01.02.1990
Former registration name: S.H. CORPOTRADE (CYPRUS) LIMITED, valid since: 01.02.1990, until:
07.08.1997
National ID
LAR007805
Former company names
S.H. CORPOTRADE
(CYPRUS) LIMITED
PRINCIPALS
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SHAREHOLDERS: |
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Full Name |
Function |
Nationality |
EQUITY |
Address |
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Mr. Habib Hleihel |
Shareholder |
LEBANON |
50.00% |
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Charles Toufic Maalouf |
Shareholder |
LEBANON |
50.00% |
3,Azalia Street,Kkana & Achakar,3rd
Floor, Monte Verde |
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MANAGEMENT: |
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Full Name |
Age |
Function |
Qualification |
Experience |
Address |
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Mr. Habib Hleihel |
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Secretary |
N/A |
Also a director of T.I.T Industrial Technologies Services Limited |
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Charles Toufic Maalouf |
56 |
Director |
N/A |
Also associated with T.I.T Indutrial Technolgies Services Limited |
3,Azalia Street,Kkana & Achakar,3rd Floor, Monte Verde |
ACTIVITIES
Importers &
Exporters
OPERATIONS:
SIC
main activity
5231 Paint, Glass, and Wallpaper Stores (paint and wallpaper)
5039 Construction Materials, NEC (sold via wholesale method)
5072 Hardware (except sold via retail method)
Subject's main activities centre around the trade of glass and glass related
products. Corpotrade offers multiple services, such us: glass service,
machinery service and tools for the glass processing industry, tools and
accessories service for full plant package for glass and alluminium processing
and finaly they provide aftersales service. The agents for glass processing
machines are: Z.Bavelloni-Italy (Pre processing machines and tools) Fratelli
Pezza-Balduzzi/Italy (Sand Blasting Machines) Uniglass-Tampere/Finland
(Tempering Lines) FOREL spa-Italy (Insulting Double Glass) Tekno-Kilns
(Bergamo/Italy) Optima (Italy) More than 1000 machines, furnaces and tempering
lines were delivered to over than 400 customers around the Middle East and
North Africa through warehouses and offices scattered strategically in UAE,
Syria, Egypt, Cyprus with a headquarter located in Lebanon.
IMPORTS
Subject does not import in Cyprus
From: Italy, Germany (machinery), Thailand, Indonesia, India, Malaysia (glass)
Terms: All kinds of terms.
EXPORTS
Subject does not
export from Cyprus
To: Arab Countries (i.e. Egypt, UAE, Lebanon, Saudi Arabia), to Bulgaria, etc.
Terms: All kinds of terms.
AGENCIES
Name Country Product
Z. Bavelloni ITALY Pre processing machines and tools
Fratelli Pezza-Balduzzi ITALY Sand Blasting Machines
Uniglass FINLAND Tempering Lines
Forel Spa ITALY Insulting Double Glass
Tekno-Kilns ITALY
Optima ITALY
NUMBER OF EMPLOYEES
45
WORKFORCE
2007
Total Workforce 45
DESCRIPTION OF PREMISES
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HEADQUARTERS: |
The company is operating from rented offices, which are located at the
address given overleaf. |
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BRANCHES: |
LEBANON |
RELATED COMPANIES
Affiliated Company
CORPOTRADE S.R.L , LEBANON
BANKERS
BANK OF CYPRUS PUBLIC COMPANY LIMITED
25,Kink Paul A' Square,Tel.:357 24844100 Fax:357 24653900
SHARE CAPITAL
Registered
capital: CYP 400,000.00 since 31.12.2001
Number of Ordinary: 400,000
Value per share of Ordinary: CYP 1.00
Issued capital: CYP 400,000.00 since
31.12.2001
Number of Ordinary: 400000
Value per share of Ordinary: CYP 1.00
Paid-up capital: CYP
400,000.00 since 31.12.2001
CHARGES
None in current years
FINANCE
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PAYMENT
No complaints
GOOD FOR AMOUNT & TERMS OF
INQUIRY
Unable to comment
We feel unable to comment on such high amount given in your inquiry
COMMERCIAL MORALITY
Good
FINANCIAL STRENGTH
Good
GENERAL COMMENTS
The present is an
International Business Company, registered in Cyprus for tax purposes. It was
incorporated on 01/02/1990.
They are involved in the trade of glass as well as machinery used for cutting
and processing the glass. Products are purchased from European and Asian
Countries and sold to Arab Countries.
According to Mr Habib the competition in the market is strong and the company
copes with it by providing high quality products at reasonable prices that
satisfy customers.
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Contact Person: |
Mr Habib Hleihel |
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Position: |
Shareholder /Secretary |
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. |
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%)