MIRA
INFORM REPORT
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Report Date : |
01.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STE TALEB MOUH SAHRAOUI |
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Registered Office : |
Avenue Yacoub El Mansour, Boukar, Marrakech |
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Country : |
Morocco |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
01/2003 |
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Com. Reg. No.: |
9155 |
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Legal Form : |
Societe A Responsibilite Limitee |
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Line of Business : |
Wholesale of agricultural machinery |
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 : |
69,582 EUR |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Registration Briefing
Registration Number: 9155
Registration Date: 01/2003
Legal Form: SOCIETE A RESPONSIBILITE LIMITEE
Latest Financials: December 31, 2006
Financial Briefing
Nominal Capital: 2,900,000 Moroccan Dirham
Issued Capital: N/A
Turnover: 36,694,635 Moroccan Dirham
Net Profit: 426,395 Moroccan Dirham
Net Worth: 3,604,518 Moroccan Dirham
Rating Briefing
Current Recommended Credit: 69,582 EUR
Rating Trend: POSITIVE
Payment Record: NO COMPLAINTS
Original Investigation Details
Company Name: STE TALEB MOUH SAHRAOUI SRI
Country: MO
Street Name: NO 45‑50, MARCHE DE GROS BAB DOOKKALA 4000
City Code:
Post Code: MARRAKECH
Phone Number: 00212 2443 6580
Fax Number: 00212 2443 6587
Company Details
Company Name: STE TALEB MOUH SAHRAOUI
Also trades as: STE TALEB MOUH
Headquarter Address: Avenue Yacoub El Mansour,
Boukar,
Marrakech,
Morocco
Telephone: +21224 436580
Fax: +21224 436597
E‑Mail: stmmorocco@yahoo.fr
Company was originally started on 01/2003
Registration & Legal Details
Current Legal Form: SOCIETE A RESPONSIBILITE LIMITEE
Registration Address: Avenue Yacoub El Mansour,
Marrakech
Registration Number: 9155
Registration Date: 01/2003
Year/Date Company Established: 01/2003
Registration Town: Marrakech
Tax Registration Number: 6502427
Capital
Currency: Moroccan Dirham
Nominal Capital: 2,900,000
Paid Up Capital: 2,900,000
Shareholders
Name/Address Shares Held % of Voting/Non‑Voting capital
Mr Taleb Mouh Sahraoui and Family, 29,000 100.00% (VOTING)
Marrakech,
Morocco
Principals
Name: Mr Taleb Mouh Sahraoui
Position within the company: Managing director
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: French
Name: Ms Latifa Achraf
Position within the company: Assistant to Managing director
Country of Birth: Morocco
Nationality: Moroccan
Can fluently speak: French
Company Activities
NACE Codes: 5166 Wholesale of agricultural machinery
The company activity is centered around wholesaling of agricultural machinery and products. The company imports 100% of these products from India, Denmark, Italy and Turkey. The subject distributes then to the local market mainly to farmers. This company does not export.
Local Reporters consider the investigated company to be MEDIUM in their field of concern.
Operations
Employees Company Employs: 10
HQ Premises
Operates from: Rented Offices, Shop
Location: Central Business Area, Side Road
Branches
45‑50 Marché de Gros Bab Doukkala,
Marrakech 40000,
Morocco
Branch is: Rented
Description of branch: Shop
Imports
Import % and type of product: 100% Finished Goods
Imports From: India, Denmark, Italy, Turkey
Importing Terms: Bank transfer
Exports
Export % and type of product: Subject does not export
Trading & Selling
Territory: 100% Nationally
Type of Customer: Group Companies, Farmers
Related Companies
Information on Related Companies is not available/applicable
Bankers
Banque Marocaine pour le Commerce et l'Industrie,
Branch: Marrakech Mohammed V
Boulevard Mohammed V , Place 16 Novembre,
Marrakech 40000,
Morocco
Financial Information
Figures are: Official Figures
Currency: Moroccan Dirham
Months Sales Figures Sales Gross Profit/Loss Net Profit/Loss
12 31/12/2006 36,694,635.00 658,242 426,395
12 31/12/2005 27,440,928.00 204,814 67,609
Balance Sheet & Profit &
Loss
BALANCE SHEET
Fiscal Year Fiscal
Year
2006 2005
Fixed Assets
Land
& Buildings
Plant
& Machinery
Furniture
& Equipment
32,847
39,741
314,256 197,635
Motor
Vehicles
Misc.
Fixed Assets
347,103 237,376
Total Fixed Assets
Financial Assets
Shares
in Related Companies
Loans
to related companies
Investments
Deposits
8,364
Misc.
Financial Assets
0 8,364
Total Financial Assets
Intangibles
Goodwill
53,806
Organisational
Expenses
Patents
Misc.
Intangible Assets
0 53,806
Total Intangible Assets
Current Assets
16,077,347 16,554,827
Stock
Stock
& Work in Progress
1,108,600 1,266,736
Trade
Debtors & receivables
Provision
for bad debs
Other
receivables
Due
from related companies
Owed
by shareholders
Prepaid
expenses
80,969 51,120
Cash
1,485,101 1,575,951
Tax
recoverable
Marketable
Securities
447
Misc.
Current Assets
18,752,464 19,448,634
Total Current Assets
19,099,567 19,748,180
Total Assets
Owner's Equity & Liabilities
2,900,000 2,900,000
Issued
and paid up capital
Share
premium account
264,217 199,600
Retained
earnings
426,395 67,608
Net
profit/Loss for the year
Revaluation
reserves
13,906 10,914
Legal
Reserves
Other
reserves
3,604,518 3,178,122
Net
Worth
Deffered
Taxation
Provisions/allowances
Mortgages/Loans
Hire
purchase
Due
to group of companies
Minority
interest
Misc.
deferred liabilities
Total Long Term Liabilities 0 0
Current Liabilities
Creditors 924,413 747,165
Other creditors 297,069 889,892
Accruals 10,805 10,763
Bank overdrafts/Loans 86,289
Misc.
Loans
Directors
accounts
Owing to shareholders 13,857,079 14,783,079
Owing
to related companies
Proposed
dividend
Long
Term‑due 1 year
Hire
Purchase‑under 1 year
Taxation 319,394 139,159
Advance
receipts
Misc.
Current Liabilities
Total Current Liabilities 15,495,049 16,570,058
Owner's Equity & Liabilities 19,099,567 19,748,180
PROFIT & LOSS
Figures are: Figures
are:
01/01/2006 to
31/12/2006 01/01/2005 to 31/12/2005
Total Income/Turnover 36,694,635 27,440,928
Cost
of sales
Gross Profit/(Loss) 36,694,635 27,440,928
Admin/selling expenses 34,085,671 24,554,973
Services 1,096,769 1,806,609
Salaries 670,458 16,695
Auditors Fee 22,564 626,351
Stock
Depreciation
Depreciation 146,657 79,053
Misc.
Operating Expenses
Misc. Operating Income 182
Net Operating Profit/(Loss) 672,516 357,429
Interest
Receivable/Finance Income
Group
related income
Misc. Financial Income 19,021
Total Financial Income 19,021 0
Interest Payable/Finance costs 29,118 45,757
Misc. financial expenses 4,177 106,858
Total Financial Expenses 33,295 152,615
Profit/(Loss) before taxes 658,242 204,814
Income Tax 231,847 137,205
Other
Tax
Profit/(Loss) after taxes 426,395 67,609
Extraordinary
items
Exceptional
items
Misc.
Items
Net Profit/(Loss) 426,395 67,609
Previous
years related earnings
Current years net income 426,395 67,609
Misc.
additions in current year
Current
years net loss
Dividends
in current year
Withdrawals
in current year
Misc.
deductions in current year
Retained earnings at end of 426,395 67,609
financial period
Average
employees
Directors
fee
Earnings
per share
Earnings
per share‑previous year
FINANCIAL RATIOS
Liquidity Ratios
Current Ratio 1.21 1.17
Acid Test Ratio 0.17 0.17
Profitability
Ratios
Gross Profit Ratio (%) 100.00 100.00
Return on Capital Employed (ROCE) 0.18 0.06
Asset Turnover (%) 10.18 8.63
Solvency OR Gearing Ratio 0.00 0.00
Miscellaneous
Ratios
Sales/Working Capital 11.26 9.53
Assets/Sales (%) 52.05 71.97
Shareholders Return (%) 18.26 6.44
Return on Assets (%) 3.45 1.04
Sales/Employees
Profit/Employees
Debt Ratio 0.81 0.84
Interest Coverage Ratio 2.84 1.49
Auditors Comments
Accounts obtained from: Companies registry
Accountants Opinion: The audited financial statement gives a true and fair view of the state of affairs of the subject
Financial Statements have been prepared on an on‑going basis.
Assuming support of: shareholders
Payments
Subject's payments reported to be: NO COMPLAINTS
Representation
Other Comments: patent n°:45304059
Interview & Reporter Comments
Name/Title: Ms Latifa Achraf Assistant to Managing director
Comment: Subject has confirmed the general details shown in the report.
Reporter Comment: The correct fax number is : 212 24 436597 not 212 24 436587.
Conclusions
Local Reputation: The company being investigated is considered by local reporters to be a
Fair / Normal Trade Risk.
General Conclusion: Local informants consider granting of credit to be a fair trade risk.
Owner/Shareholders Comments: Some of the owners / shareholders have an active participation in the
running of the business.
Financial Results Trend: Financial Information indicates that the business activities of the
company are showing an upward turn.
Age of Business: The company has been established for under 5 years.
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%)