MIRA
INFORM REPORT
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Report Date : |
26.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
SAFRE TRADE
COMPANY |
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Registered Office : |
Al Tahadi Road
Off Airport Road, Tripoli, POB 91948 |
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Country : |
Libya |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
56562 |
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Legal Form : |
Private Joint Stock Company |
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Line of Business : |
Non‑Specialised Wholesale of Food |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME OF THE COMPANY
Safre Trade Company
Registration Briefing
Registration Number: 56562
Registration Date: 1994
Legal Form: PRIVATE JOINT
STOCK CO
Latest Financials: N/A
Financial Briefing
Nominal Capital: 35,000,000 Euros
Issued Capital: All
Turnover: 84,000,000 Libyan
Dinar
Net Profit: 8,400,000 Libyan
Dinar
Net Worth: N/A
Rating Briefing
Current Recommended Credit: 1,148,840 EUR
Former Recommended Credit: N/A
Rating Trend: POSITIVE
Payment Record: NO COMPLAINTS
Original Investigation Details
Company Name: SAFRE
TRADE CO. LTD
Country: LI
Street Name: AL
TAHADI ROAD OFF AIRPORT ROAD
City Code: TRIPOLI
Post Code: POB
91948
Phone Number: 218
21 480 73 88
Fax Number: 218
21 480 03 75
Company Details
Company Name: Safre Trade Company
Also trades as: Safre
Company acronym: STC
Headquarter
Address: Al‑Tahadi
Street, Off Airport Road,
Tripoli,
Libya
Postal Address: P.O.Box
91948,
Tripoli
Telephone: +218
214807388
+218
912129016
Fax: +218
214800375
E‑Mail: safre@lttnet.net,
safare@gmail.com
Company was originally started on 1994
Registration & Legal Details
Current Legal
Form: PRIVATE
JOINT STOCK CO
Registration
Address: Al‑Tahadi
Street, Off Airport Road,
Tripoli
Registration
Number: 56562
Registration Date: 1994
Year/Date Company
Established: 1994
Registration Town: Triploi
Capital
Currency: Euros
Nominal Capital: 35,000,000
Issued Capital: All
Paid Up Capital: All
Shareholders
Shareholders:
Name/Address
Shares Held % of Voting/Non‑Voting
capital
25.00% (VOTING)
Mr. Ali El‑Deeb,
Libya
25.00% (VOTING)
Mr. Kamal El‑Sherif,
Libya
25.00% (VOTING)
Mr. Hakeem El‑Sherif,
Libya
25.00% (VOTING)
Mr. Sami El‑Bakoushi,
Libya
Principals
Name: Mr
Ali El‑Deeb
Position within
the company: Chairman
Country of Birth: Libya
Nationality: Libyan
Can fluently
speak: English
& Arabic
Education: Graduate
University
Name: Mr
Kamal El‑Sherif
Position within
the company: General
manager
Country of Birth: Libya
Nationality: Libyan
Can fluently
speak: English
& Arabic
Education: Graduate
University
Name: Mr
Hakeem El‑Sherif
Position within
the company: Financial
Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently
speak: English
& Arabic
Education: Graduate
University
Name: Mr
Sami El‑Bakoush
Position within
the company: Marketing
Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently
speak: English
& Arabic
Education: Graduate
University
Company Activities
NACE Codes: 5139 Non‑specialised
wholesale of food ‑ 100%
The company deals
in the following
‑ Juice
products.
‑ Dairy
products (cheese, milk, yogurt..etc.).
‑ Other
products related to the field.
The company is an
importer of the fore mentioned products.
The company does
not export.
100% Importer.
100% Wholesaler.
Local Reporters consider
the investigated company to be MEDIUM in their field of concern.
Operations
Employees Company Employs:
70
HQ Premises Operates from: Owned Office , Stores
Location: Central
Business Area, Main Road
Branches
Benghazi,
Libya
Branch is: Owned
Description of
branch: Office, Warehouse
These premises
operate as: a branch, tel: 218‑214807388, Fax: 218‑214800375.
Al‑Tahadi
street, off airport road,
Tripoli,
Libya
Branch is: Owned
Description of
branch: Factory
Branch premises
size: 10,000.00 sq.mtrs.
These premises
operate as: a branch
Imports
Import % and type
of product: 100%
Finished Goods
Imports From: United
Kingdom, Germany, France, Netherlands, Italy, Malta, Tunisia
Importing Terms: Letters
of credit
Additional
Information: Importer
of foodstuffs and other products related to the field.
Brands: BARMLAT
‑ Juice & Biscuits
BONDEUELLE ‑
Food cans
ZOTT ‑
Yogurt
PRESIDENT ‑
Cheese
FRICO ‑
Cheese
Exports
Export % and type of product: Subject does not export
Trading & Selling
Territory: 100%
Nationally
Type of Customer: Traders,
Wholesalers, Retailers
Related Companies
Subsidiaries
Al‑Rawasi
Company
Tripoli, Owned
80% by subject
Libya
Start date: 2000
Operates as: The
company deals in stationery products.
Tel: 218‑214807388,
Fax: 218‑214800375
Al‑Fath
Company
Tripoli, Owned
80% by subject
Libya
Operates as: The
company deals in detergents and other products related to the field.
Tel: 218‑214807388,
Fax: 218‑214800375
Entissar for Oil
Services
Tripoli, Owned
80% by subject
Libya
Start
date: 2004
Operates as: The company deals in oil services.
Tel: 218‑214807388,
Fax: 218‑214800375
Al‑Sharq
Company
Tripoli, Owned
80% by subject
Libya
Start date: 2004
Operates as: The
company deals in medical equipment and other products related to the field.
Tel: 218‑214807388,
Fax: 218‑214800375
Karama for Cooling
& Air
Tripoli, Owned
80% by subject
Libya
Start date: 1999
Operates as: The
company deals in air condition products.
Tel: 218‑214807388, Fax: 218‑214800375
Bankers
Sahari Bank,
Branch: Tripoli
Tripoli,
Libya
Account Number: 5133
Currency: Libyan
Dinar
Sahari Bank,
Branch: Tripoli
Tripoli,
Libya
Account Number: 51021
Currency: Libyan
Dinar
Bank of Valletta
p.l.c.,
Branch: Main
BOV Centre, High
Street,
Sliema SLM 16,
Malta
Account Number: 40014421392
Currency: Euros
Additional
Information: Phone
: +356 21333041
Fax : +356 21333180
Financial Information
Source: Mr.
Ali El‑Deeb Chairman
Figures are: Estimates
Currency: Libyan
Dinar
Months Sales Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 31/12/2007 84,000,000.00 8,400,000
12 31/12/2006 70,000,000.00 7,000,000
12 31/12/2005 60,000,000.00 6,000,000
12 31/12/2004 55,000,000.00 5,500,000
Payments
Subject's payments reported to be: NO COMPLAINTS
Interview & Reporter Comments
Name/Title: Mr.
Ali El‑Deeb Chairman
Comment: Subject
has offered brief financial data only and refused to provide full
financial
information.
Reporter Comment: The
registered company name is "Safre Trade Company".
The registered
company address is "Al‑Tahadi Street, Off Airport Road, Tripoli,
Libya".
It
was reported that the company is an importer of the following brands:
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Barmlat from Italy.
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Bondeuelle from France.
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Zott from Germany.
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President from France.
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Frico from Netherlands.
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Other products from different countries.
In the
interview conducted with Mr. Ali El‑Deeb, chairman, he declined
further financial information citing
the grounds of company confidentiality. Company's shares are not freely
transferable and are not bought and sold on the stock market. Local company’s registry is inaccessible to inspect
subject's file, therefore, all the
information shown in the report is through a direct contact with the
subject you are investigating.
Conclusions
Accounts
Comments:
Only Brief Financial data has been obtained
by the subject, our assessment and ratings are therefore based on the
reliability of the data obtained.
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:
All or most 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 is long established in the local
market.
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%)