MIRA
INFORM REPORT
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Report Date : |
28.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAIDAL
ANTIBIOTICAL SPA |
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Registered Office : |
Route D'el Khemis, Medea
26 000 |
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Country : |
Algeria |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
01.01.1983 |
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Com. Reg. No.: |
00B0342357 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Manufacturers and
Distributors of Antibiotics, and other Pharmaceutical Products etc |
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 : |
USD 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUBJECT'S NAME
Registered Name: SAIDAL ANTIBIOTICAL SPA
Requested Name: Saidal
Antibiotical
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Route D'el Khemis, Medea 26 000
Postal Address: P.o Box 33
Medea
Country: Algeria
Phone: 213-23-255856
Fax: 213-23-255858
Email: r.zaouani@saidalgroup.dz
Website: www.saidalgroup.dz
CREDIT OPINION
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. We recommend Credit of USD 100,000 on 90 days.
LEGAL
Legal Form: Limited Corporation
Date Incorporated: 01/01/1983
Reg. Number: 00B0342357
Nominal Capital DZD. 2,500,000,000
Subscribed Capital DZD. 2,500,000,000
Subscribed
Capital is Subscribed in the following form:
Position Shares
Mr.
Faisal Ababsa Chairman
Mr.
Mohammed Hammouche MD/ CEO
Mr.
Yehya Naser Director
Mr.
Kerboub Housin Director
Mr. Masmoudi
Ahmad Naser Director
Mr.
Benouari Amar Director
Mr.
Aoun Ali Director
Mr.
Hiouani Ammar Director
Groupe
Saidal Holding Company 100%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
Saidal Pharmal
Saidal Biotic Affiliated company.
None Shareholder of subject firm.
4 branches in Algeria Branches of the firm
OPERATIONS
Registered to operate as manufacturers &
Distributors of antibiotics, and other pharmaceutical products etc
Imports: Europe, UAE, Asia
Exports: Neighboring
countries
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: Firms,
Hospitals, pharmacies etc
Employees: 450 employees.
Vehicles: Several
motor vehicles.
Territory of sales: Algeria
Location: Owned
premises, 40.000 square feet,
AUDITORS AND INSURANCE
Auditors: Chouder Mohammed
Insurance Brokers: Information
not available
FINANCE
Currency Reported: Algerian Dinar (DZD.)
Approx. Ex. Rate: 1 US Dollar = 68 Algerian Dinar
Fiscal Year End: December
31, 2007
Inflation: According
to information given by independent sources, the inflation at December
31st, 2007 was of 13%.
Financial Information Not Submitted
Profit and Loss (expressed in DZD.)
2007
Sales 2,500,000,000
Net Profit (Loss) 128,000,000
BANK
Bank Name: Credit Populair D'algerie
Branch: Medea
Comments: None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
COMMENTS / ADDITIONAL INFORMATION
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.49.84 |
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UK Pound |
1 |
Rs.76.81 |
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Euro |
1 |
Rs.64.38 |
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%)