MIRA
INFORM REPORT
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Report Date : |
19.05.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL.NI.A KOKKINOS LIMITED |
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Formerly Known As : |
E.N.A.KOKKINOS BROTHERS LIMITED |
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Registered Office : |
Strovolos Industrial Area, 8, Varkizas Street 2033 Nicosia |
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Country : |
Cyprus |
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Financials (as on) : |
2007 |
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Date of Incorporation : |
01.01.1996 |
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Com. Reg. No.: |
C80033 Nicosia |
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Legal Form : |
Private Limited Liability Company |
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Line of Business : |
Importers, Wholesalers, Distributors, Retailers, Exporters and
Tenderers |
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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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
Correct Registered
Name: EL.NI.A KOKKINOS LIMITED
Address: Strovolos
Industrial Area, 8, Varkizas Street
2033 Nicosia CYPRUS
P.O.Box: 22406 - 1521
Nicosia
Telephone: +357-22-449999
Fax: +357-22-514428
Email: info@kokkinos.com
Web: www.elnia.com
LEGAL STATUS
Legal Form: Private Limited
Liability Company
Date of
foundation: 01.01.1996
Registration
number and city: C80033 Nicosia
Registration date:
03.07.1996
Former
registration name: E.N.A.KOKKINOS
BROTHERS LIMITED, valid since: 03.07.1996, until: 28.08.2006
Former company names: E.N.A.KOKKINOS BROTHERS LIMITED
PAYMENT
No complaints
COMMERCIAL
MORALITY: Good
FINANCIAL
STRENGTH: Good
PRINCIPALS
SHAREHOLDERS
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Full Name |
Function |
Nationality |
EQUITY |
Address |
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Mr. Andreas St. Kokkinos |
Shareholder |
CYPRUS |
33.33% |
Strovolos , 5 Ermocleous Street, Acropoli |
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Mr. Nicos St. Kokkinos |
Shareholder |
CYPRUS |
33.34% |
Doryphoros Building, Apt: 401, Aglatzia, 5 Larnacos Avenue |
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Mr. Elias St. Kokkinos |
Shareholder |
CYPRUS |
33.33% |
Strovolos , 5 Ermocleous Street, Acropoli |
MANAGEMENT
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Full Name |
Age |
Function |
Qualification |
Experience |
Address |
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Mr. Nicos St. Kokkinos |
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Director (Managing Director/Financial
Manager) |
N/A |
N/A |
Doryphoros Building, Apt: 401, Aglatzia, 5
Larnacos Avenue |
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Mr. Elias St. Kokkinos |
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Director (General Manager) |
N/A |
N/A |
Strovolos , 5 Ermocleous Street, Acropoli |
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Mrs. Maria St. Kokkinos |
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Director / Secretary |
N/A |
N/A |
Strovolos , 5 Ermocleous Street, Acropoli |
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Mr. Marios Theophanous |
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Manager (Sales & Marketing Manager) |
N/A |
N/A |
N/A |
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Mr. Andreas St. Kokkinos |
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Director (Director) |
N/A |
N/A |
Strovolos , 5 Ermocleous Street, Acropoli |
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Mr. Petros Petrou |
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Manager (Operations Manager) |
N/A |
N/A |
N/A |
ACTIVITIES
Importers &
Wholesalers & Distributors & Retailers & Exporters & Tenderers
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OPERATIONS: |
NACE |
MOTOR VEHICLES
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IMPORTS
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EXPORTS
Not applicable.
AGENCIES
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NUMBER OF
EMPLOYEES
28
DESCRIPTION
OF PREMISES
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Address: |
Strovolos Industrial Area, 8, Varkizas Street |
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Type of premises: |
Premises |
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SIZE: |
3000 Sq. Metres |
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Type of ownership: |
owned |
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Condition: |
Good |
HEADQUARTERS
The company is operating from newly constructed premises, which are
located at the address given overleaf. Premises are owned, comprised of
offices, the showroom and storage facilities.
BRANCHES
Subject has 1 branches/divisions
6 Ermokleous Street, Strovolos, 2003, Nicosia, Cyprus. These are office
premises. Size: 850 square metres
RELATED COMPANIES
"A.E.N.
Kokkinos Estates Ltd” - Sister, estate company. This company involves in the
construction of new premises, which will be used by the subject in question.
"E.N.A. Kokkinos S.A.” – Sister company in Greece.It is based in Athens
city, and started operations in July 2001. The company is involved in the same
line of business as the subject in question, and thus directly imports products
from the same supplier. The management and control of the company is carried
out by the subject in question.
BANKERS
BANK OF CYPRUS PUBLIC COMPANY LIMITED
Corporate Banking 104, Athalassis Ave., 2024 Strovolos, Tel.: 22511910 Fax:
22510256
MARFIN POPULAR BANK PUBLIC LIMITED
Kennedy Branch 114, 89B, John Kennedy Avenue 1077 Nicosia, Tel.: 22379166, Fax:
22379201
AUDITORS / ACCOUNTANTS
Date:
19.05.2008
Financials have been audited
Company: PKF Accountants & Business Advisers, 2 Limassol Avenue, Aluminium
Tower, Floors 3rd & 4th, 2003 Nicosia, Cyprus ,Telephone +357 22 462727
SHARE
CAPITAL
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CHARGES
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25.11.1996 |
Floating Charge on all Company's Assets |
CYP 50,000.00 |
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in f/o:Bank of
Cyprus Public Company Limited |
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25.02.1998 |
Floating Charge on all Company's Assets |
CYP 150,000.00 |
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in f/o:Bank of
Cyprus Public Company Limited |
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16.10.1998 |
Floating Charge on all Company's Assets |
CYP 100,000.00 |
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in f/o:Marfin
Popular Public Bank Limited |
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28.01.2003 |
Floating Charge on all Company's Assets |
CYP 150,000.00 |
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in f/o:Marfin
Popular Public Bank Limited |
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18.05.2005 |
Floating Charge on all Company's Assets |
CYP 50,000.00 |
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in f/o:Marfin
Popular Public Bank (Factors) Limited |
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FINANCE
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RATIOS
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GENERAL COMMENTS
EL.NI.A. was
founded in 1996 by the three sons of the Kokkinos family with the
vision to establish a market-leading, modern and efficient organization in the
distribution of area coverings. The subject has a 30-year long market
experience, and cooperates with leading manufacturers globally such as the
Tarkett Group, the Balta Group and Mondo S.p.A.
In Cyprus subject is considered to be a large concern in this field.
Sells to the general public, group companies, companies and individuals on a
regular basis.
Contact Person: Mr Nicos Kokkinos
Position: Director/Shareholder
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%)