MIRA
INFORM REPORT
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Report Date : |
21.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAGHREB INDUSTRIES |
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Registered Office : |
35 Avenue Khalid
Bnou Loualid, Casablanca 20250 |
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Country : |
Morocco |
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Date of Incorporation : |
20.08.1959 |
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Com. Reg. No.: |
27023 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Manufacturer of Cocoa/Chocolate/ Confectionery |
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 : |
EUR 244,102 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name of the company
MAGHREB INDUSTRIES
Registration Briefing
Registration Number: 27023
Registration Date: 20/08/1959
Legal Form: SOCIETE ANONYME
Latest Financials: N/A
Financial
Briefing
Nominal Capital: 10,000,000
Moroccan Dirham
Issued Capital: N/A
Turnover: 117,026,000
Moroccan Dirham
Net Profit: N/A
Net Worth: N/A
Rating Briefing
Current
Recommended Credit: 244,102 EUR
Rating Trend: RATING TRENDS CANNOT
BE CONFIRMED
Payment Record: NO COMPLAINTS
Original Investigation Details
Company Name: MAGHREB
INDUSTREIS SA
Country: MO
Street Name: 35
AVENUE KHALID IBNOU LOUALID
City Code: CASABLANCA
Post Code: POB
2516
Phone Number: 212
22 35 05 96
Fax Number: 212
22 35 45 95
Company Details
Company Name: MAGHREB INDUSTRIES
Headquarter Address: 35 Avenue Khalid Bnou Loualid,
Ain Sebaa,
Casablanca
20250,
Morocco
Postal Address: P.O.Box 2516,
Casablanca
Telephone: +21222
342465
+21222
350596
+21222
355956
Fax: +21222
354595
Web Site: www.maghrebindustries.com
Company was originally
started by Mohamed Marrakchi, Abdelhakim Marrakchi and Mamoun Marrakchi on
18/08/1959
Registration & Legal Details
Current Legal
Form: SOCIETE
ANONYME
Registration
Address: 35
Avenue Khalid Bnou Loualid,
Casablanca
20250
Registration
Number: 27023
Registration Date: 20/08/1959
Year/Date Company
Established: 18/08/1959
Registration Town: Casablanca
Tax Registration
Number: 01640100
Capital
Currency:
Moroccan Dirham
Nominal Capital: 10,000,000
Paid Up Capital: 10,000,000
Shareholders
Shareholders:
Name/Address Shares Held
% of Voting/Non‑Voting capital
100.00% (VOTING)
Marrakchi Family,
Morocco
Principals
Name: Mr
Mohamed Marrakchi
Position within
the company: Chairman
and managing director
Date of Birth: 1952
Country of Birth: Morocco
Nationality: Moroccan
Can fluently
speak: French
Association as Director: Offset Polyplast
Name: Mr
Abdelhakim Marrakchi
Position within
the company: Administration
Director
Date of Birth: 1958
Country of Birth: Morocco
Nationality: Moroccan
Can fluently
speak: English
Education: Degree
in Mathematics and computer sciences.
Name: Mr
Mohammed Rachid Cadi
Position within
the company: Financial
Director
Country of Birth: Morocco
Nationality: Moroccan
Can fluently
speak: French
Education: Degree
in Accounting
Name: Mr
Lahoucine Khaoui
Position within
the company: Commercial
Director
Country of Birth: Morocco
Nationality: Moroccan
Can fluently
speak: English
Name: Mr
Daniel Bajora
Position within
the company: Technical
Director
Other
qualifications include: Ingeneer
Company Activities
NACE Codes:
1584 Mfg cocoa/chocolate/
confectionery
Since its creation in 1959, Maghreb Industries has
specialized in manufacturing of candies and chewing gum.
Local Reporters consider the investigated company
to be LARGE in their field of concern.
Operations
Employees Company Employs:
500
HQ Premises Operates from: Owned Office , Factory, Warehouse
Premises
Size: 12000 square meters
Location: Industrial Area, Side Road
Branches Quartier
Industriel Sidi Brahim,
Fes,
Morocco
Branch
is: Owned
Description
of branch: Warehouse
Branch
premises size: 1,600.00 sq.mtrs.
Boulevard
chefchaouni, Allee des cactus,
Ain
Sebaa,
Casablanca,
Morocco
Branch
is: Rented
Description
of branch: Warehouse
Branch
premises size: 17,000.00 sq.mtrs.
Kenitra,
Morocco
Branch
is: Owned
Description
of branch: Warehouse
Branch
premises size: 1,500.00 sq.mtrs.
Agadir,
Morocco
Branch
is: Owned
Description
of branch: Warehouse
Imports
Imports
Raw Materials
Imports From: U S
A, Europe
Importing Terms: Cash against
documents
Brands: FLASH
‑
Exports
Export % and type
of product: 30%
Exports To: Africa,
Europe
Exporting Terms: bank
transfer
Trading & Selling
Territory: 70%
Nationally, 30% International
Type of Customer: Group Companies,
Supermarkets, Distributors, Wholesalers of sweet.
Vehicles: Total
number of vehicles: 60
Related Companies
Information on Related Companies is not
available/applicable
Bankers
Société Générale,
Branch: Head
office
55 Boulevard Abdelmoumen,
Casablanca 20100,
Morocco
Banque Marocaine
pour le Commerce et l'Industrie,
Branch: Head
office
26 Place des
Nations Unies,
Casablanca 20000,
Morocco
Banque Marocaine
du Commerce Extérieur,
Branch: Head
office
140 Avenue Hassan
II,
Casablanca 20000,
Morocco
Financial Information
Figures are: Official
Figures
Currency: Moroccan
Dirham
Months Sales Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 31/12/2005 117,026,000.00
12 31/12/2003 136,000,000.00
12 31/12/2002 127,759,000.00
12 31/12/2001 130,441,482.00
Payments
Subject's payments reported to be: NO COMPLAINTS
Representation
Auditors: Fidumac
Casablanca
Morocco
Other Comments: Patent N° : 30302430
Interview & Reporter Comments
Name/Title: Mr
Mohamed Rachid Cadi Financial Director
Comment: Latest
Financial Statements are not currently available.
Company
Officials have refused to co‑operate with local reporters in
confirming/providing
information.
Reporter Comment: The Turnover
2005 has been obtained from The Trade and Industry Ministry Web Site.
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 even /
similar in strength to corresponding years.
Age of Business: The company is a long
established family run business.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.71 |
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UK Pound |
1 |
Rs.67.73 |
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Euro |
1 |
Rs.85.11 |
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%)