MIRA
INFORM REPORT
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Report Date : |
10.12.2008 |
IDENTIFICATION
DETAILS
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Name : |
AGROMEC EURL |
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Registered Office : |
Cite 2001 Logis Bt No 21 Rouiba 16012 |
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Country : |
Algeria |
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Date of Incorporation : |
07.03.1998 |
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Com. Reg. No.: |
98B3295 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Dealers in Agricultural
Machinery and Equipment such as Tractors |
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: AGROMEC EURL
Requested Name: AGROMEC
EURL
Other Names: None found.
ADDRESS AND TELECOMMUNICATION
Physical Address: Cite
2001 Logis Bt No 21 Rouiba 16012
Postal Address: Cite 200 Logements, Batiment C4
No. 21, Inforba,
16907
Rouiba
Country: Algeria
Phone: 213-21-817090/854623
Fax: 213-770-938332/-774-547454
Email: sisaidagromec@hotmail.fr
Website: none
CREDIT OPINION & RISK RATING
ASSESSMENT
Financial Index as of December 2007 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments. We recommend Credit of USD 100,000 on 90
days.
LEGAL
Legal Form: Sole Proprietorship
Date Incorporated: 7-March-1998
Reg. Number: 98B3295
Nominal Capital DZD 30,000,000
Subscribed Capital DZD 30,000,000
Paid Up Capital DZD 30,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr.
SI Said Anouar MD/ CEO 100%
RELATED COMPANIES
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
OPERATIONS
Registered to operate as dealers in agricultural
machinery and equipment such as tractors
Imports: Tractors from
China
Exports: Uganda and
Tanzania (10%)
Trademarks: None
Terms of sale: Cash (40%) and
25-90 days (60%), invoices.
The subject has
about 800 customers, 95% from the private sector and 5% from government sector.
Main Customers: Farmers,
distributors etc
Employees: 6
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Algerian
Location: Rented/
Owned premises, 52.000 square feet,
AUDITORS AND INSURANCE
Auditors: Information not available.
Insurance Brokers: Information not available.
FINANCE
Currency Reported: Algerian Dinars (DZD)
Approx. Ex. Rate: 1 US Dollar = 72.86 Algerian Dinars
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
BANK
Bank Name: BNP Paribas
Branch: El Djazair Agence De Rouba Lotissment Caddat No
90 Rouiba
Comments: Overdraft None, Promissory notes- None
TRADE
REFERENCES
Experiences: Good
NOTARIAL BONDS None
CHECK
INSOLVENCIES
The checks have been
made on: The company
and owner
PROTESTS
AND NEGATIVE ELEMENTS
The company and the following officer Mr. SI Said Anouar, has been checked at
the Registries of companies and with the judicial local facilities.
PROTESTS RECORDED
No protests in the name of the company and its
officers, No protests on the associated concerns, No protests on
shareholders/partners, Check on Prejudicial Events as per Commercial Court
office
NEGATIVE ELEMENTS
Researches effected
concerning possible prejudicial events
in the name of the company
revealed: No negative elements since 01/01/2000
Date of the check on protests and prejudicial events:
09/12/2008
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.49.12 |
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UK Pound |
1 |
Rs.72.59 |
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Euro |
1 |
Rs.63.52 |
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%)