MIRA
INFORM REPORT
|
Report Date : |
05.09.2008 |
IDENTIFICATION
DETAILS
|
Name : |
ORPHANDIES PUBLIC COMPANY LTD |
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|
|
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Formerly Known as : |
CHRIS ORPHANIDES STORES |
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|
|
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Registered Office : |
20-22 Yiannou Kranidioti Avenue, 6046 Larnaca |
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Country : |
Cyprus |
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Financials (as on) : |
30.06.2008 |
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Date of Incorporation : |
29.11.1986 |
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Com. Reg. No.: |
C28310 Nicosia |
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Legal Form : |
Public Limited Liability Company |
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Line of Business : |
Grocery Stores |
RATING &
COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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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Maximum Credit Limit : |
EUR 2,906,292.00 |
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|
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Status : |
Very Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
NAME & ADDRESS
Correct Registered
Name: ORPHANIDES PUBLIC COMPANY
LIMITED
Other Trading
name: ORPHANIDES
Address: 20-22
Yiannou Kranidioti Avenue
6046 Larnaca CYPRUS
P.O.Box: 42131 - 6531
Telephone: +357-24846000
+357-24638444
Fax: +357-24638449
Email: contact_us@orphanides.com.cy
orphanides@cytanet.com.cy
Web: www.orphanides.com.cy
MAXIMUM CREDIT: EUR 2,906,292.00
PAYMENT
No complaints
GOOD FOR AMOUNT & TERMS OF INQUIRY:
Too high
Suggested maximum credit: 2906292 Euro.
COMMERCIAL MORALITY:
Very good
FINANCIAL STRENGTH:
Very good
RATIOS
|
LEGAL STATUS
|
Legal Form: |
Public Limited Liability Company
|
Registration
number and city: C28310 Nicosia
Registration date:
29.11.1986
Present Style
Adopted on: 09.07.1998
Former registration name: LAIKI YPERAGORA ORPHANIDES LIMITED, valid since:
04.12.1987, until: 13.08.2004
CHRIS ORPHANIDES STORES, valid since: 29.11.1986, until: 04.12.1987
Former company names: LAIKI YPERAGORA ORPHANIDES LIMITED
CHRIS ORPHANIDES STORES
Registration status: 1986 - registered company
Activity status: 1986 - active company
PRINCIPALS
|
SHAREHOLDERS: |
|
Full Name |
Personal ID |
Function |
Nationality |
EQUITY |
Address |
|
Mr. George Chatzimichael |
|
Shareholder |
CYPRUS |
0.03% |
CYPRUS |
|
Mr. Simos Kyriakides |
|
Shareholder |
CYPRUS |
0.19% |
CYPRUS |
|
JUPITER PORTOFOLIO INVESTMENTS LIMITED |
|
Shareholder |
|
1.73% |
|
|
Mr. Christos Orphanides |
448387 |
Shareholder |
CYPRUS |
60.52% |
20-22 Stratigou Timagia Street |
|
MICHAEL P. MICHAELIDES LIMITED |
|
Shareholder |
|
1.73% |
11, Digenis Akritas Avenue |
|
Ms. Chariklia Orphanidou |
|
Shareholder |
CYPRUS |
2.22% |
20-22 Stratigou Timagia Street |
|
ATHENA CYPRUS PUBLIC COMPANY LIMITED |
|
Shareholder |
|
1.36% |
|
|
OTHERS |
|
Shareholder |
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32.22% |
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MANAGEMENT
|
Full Name |
Personal ID |
Age |
Function |
Nationality |
Qualification |
Experience |
Address |
|
OMNIUM SECRETARIAL LIMITED |
|
|
Secretary |
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|
|
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Mr. Ntinos Lefkaritis |
NIC0481038020 |
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Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
CYPRUS |
|
Mr. Michalis Petsas |
NIC047705104 |
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Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
Nicosia |
|
Mr. Christos Fylactou |
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Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
CYPRUS |
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Mr. Polis Kourousides |
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Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
CYPRUS |
|
Mr. Marios Antoniades |
277633 |
70 |
Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
24,Aristidou Street |
|
Mr. Simos Kyriakides |
559352 |
50 |
Member of the Board of Directors |
CYPRUS |
Not Disclosed |
Not Disclosed |
40,Gregori Afxentiou Street |
|
Mr. Christos Orphanides |
448387 |
58 |
Group Managing Director / Group Chairman |
CYPRUS |
Has a Degree in Business Studies from Middlessex University. Educated
at Institute of Financial Accountants & Institute of Commercial Mgt.Also
associated with Cyprus Supermarkets Association (Chairman). |
Founder of the company. |
20-22 Stratigou Timagia Street |
|
Mr. Georgios Hadjimichael |
485880 |
58 |
Member of the Board of Directors |
CYPRUS |
Has a Degree in Business Administration and Accounting |
Was a member of the Board of Directors of the
Cyprus Electricity Authority. Also associated with Member of the Chartered
Association of Certified Accountants and the Association of Cyprus
Accountants. |
9, Agamemnonos Street, Drosia |
|
Mr. George Kallinikou |
LAR00500511429 |
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Financial Controller |
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ACTIVITIES
Importers &
Manufacturers & Retailers & Local Purchasers
OPERATIONS:
SIC
main activity
5411 Grocery Stores (except convenience stores and grocery stores
with substantial general merchandise)
5499 Miscellaneous Food Stores (poultry and poultry products)
5719 Miscellaneous Homefurnishings Stores (blinds and shades)
5722 Household Appliance Stores
Importers & Local Purchasers.
Manufacturers of their own Label Brand: “Orphanides Quality” brand name.
Retailers (100%).
The company in question was established in order to get involved in the operation
of shopping malls, hypermarkets and supermarkets, the rental and sale of shops
and apartments.
The company runs 13 hypermarkets located around Cyprus and 3 Shopping Mall
which are located in the three major cities of Cyprus (Nicosia, Limassol &
Paphos). The company sells on a retail basis of foodstuff, alcoholic drinks and
beverage kitchen-ware articles, giftware articles, glassware articles, clothing
products for men, women and children, toys, stationery products, household
appliances, and many other related products.
The company also maintains its own Private label products. Within Orphanides
Supermarkets most of their private label range are sold under the 'Orphanides
Quality' brand name.
Business Activities
Supermarkets
Industry Classifications - NAICS
» Supermarkets and Other Grocery (except Convenience) Stores
Supermarkets and Other Grocery (except Convenience) Stores
NAICS # 44511 | This industry comprises establishments generally known as
supermarkets and grocery stores primarily engaged in retailing a general line
of food, such as canned and frozen foods; fresh fruits and vegetables; and
fresh and prepared meats, fish, and poultry. Included in this industry are
delicatessen-type establishments primarily engaged in retailing a general line
of food. Retailing automotive fuels in combination with a convenience store or
food mart--are classified in Industry 447110, Gasoline Stations with
Convenience Stores; Retailing a limited line of goods, known as convenience
stores or food marts (except those with fuel pumps),--are classified in
Industry 445120, Convenience Stores; Retailing frozen food and freezer plans
via direct sales to residential customers--are classified in Industry 454390,
Other Direct Selling Establishments; Providing food services in
delicatessen-type establishments--are classified in U.S. Industry 722211,
Limited-Service Restaurants; and Retailing fresh meat in delicatessen-type
establishments--are classified in Industry 445210, Meat Markets.
IMPORTS
UNITED KINGDOM,
ITALY, CHINA, FRANCE, GREECE, GERMANY, UNITED STATES, POLAND, HONG KONG,
THAILAND
Payment terms:
L/C Base (Letter of Credit)
EXPORTS
The subject does
not engage in any export activities.
TRADE SUPPLIERS
Name Country Product
Tesco UNITED
KINGDOM
Booker UNITED
KINGDOM
Itex ICELAND,
UNITED KINGDOM
ELKS UNITED
KINGDOM
Delifrance FRANCE
Interche Mall POLAND
NUMBER OF EMPLOYEES
1,000
DESCRIPTION OF PREMISES
|
Address: |
20-22 Yiannou Kranidioti Avenue |
|
Type of premises: |
Premises |
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SIZE: |
6000 Sq. Metres |
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Type of ownership: |
owned |
HEADQUARTERS
Premises comprise
offices, shops, warehouses and is a 3-storey building.
BRANCHES
Subject has 15
branches/divisions
'ORPHANIDES SUPERMARKET' 20 Katsantoneon street, Kato Polemidia, 4154,
Limassol, Cyprus. These are owned shop premises. Size: 19000 square metres.
Operates as Hypermarket and Shopping Mall (16 Shops & 1300 parking spaces).
'ORPHANIDES SUPERMARKET' Troodos Avenue, Strovolos, 2045, Nicosia, Cyprus.
These are owned shop premises. Size: 9500 square metres.
Operates as Hypermarket and Shopping Mall (50 Shops & 1300 parking spaces).
'ORPHANIDES SUPERMARKET' 37 Athinon Avenue, 8035, Paphos, Cyprus. These are
owned shop premises. Operates as Hypermarket. (2 storey building).
'ORPHANIDES SUPERMARKET' Sunwaves Center, Block A,Adamantiou Korai Avenue,
8046, Paphos, Cyprus. These are owned shop premises. Operates as Hypermarket.
'ORPHANIDES SUPERMARKET' 212 Protara Avenue,, Paralimni, 5291, Famagusta,
Cyprus. These are owned shop premises. Size: 3000 square metres. Operates as
Hypermarket.
'ORPHANIDES SUPERMARKET' Franklin Roosevelt Avenue, Zakaki, 3046, Limassol,
Cyprus. These are owned shop premises. Operates as Hypermarket. Size: 6500
square metrs.
'ORPHANIDES SUPERMARKET' 20-22 General Timayia Avenue, 6064, Larnaca, Cyprus.
These are rented shop premises. Operates as Supermarket. Size: 6000 square
metres. (3 storey building with spacius parking space).
'ORPHANIDES SUPERMARKET' 28 Thesallonikis Avenue, 6035, Larnaca, Cyprus. These
are rented shop premises. Operates as Supermarket.
'ORPHANIDES SUPERMARKET' 25 Corner Ioanni Polemi Street & Peter&Paul
Street,
Limassol, Cyprus. These are rented shop premises.
Operates as Supermarket.
'ORPHANIDES SUPERMARKET' Ormidia Village, Larnaca, Cyprus. These are owned
shop premises.
'ORPHANIDES SUPERMARKET' 94 Ayiou Georgiou Street, Anthoupoli, Nicosia,
Cyprus. These are rented shop premises. Operates as supermarket.
'ORPHANIDES SUPERMARKET' Geri Village, Nicosia, Cyprus. These are shop
premises.
'ORPHANIDES SUPERMARKET' Limassol, Cyprus. These are shop premises.
'ORPHANIDES SUPERMARKET' Nicosia, Cyprus. These are shop premises.
'ORPHANIDES SUPERMARKET' Paphos, Cyprus. Operates as hypermarket and shopping
mall. Size: 30000 square meters. (10 shops, a coffee shop & 1000 parking
spaces). The "Paphos Mall" was inaugurated officially on 26/07/2008.
RELATED COMPANIES
Subsidiary Company
A. ANTONESCOS DEVELOPPER LIMITED , CYPRUS
Subsidiary Company
ASTA SUPERMARKET LIMITED , CYPRUS , National ID: NIC012401
Subsidiary Company
BOSALICA LIMITED , CYPRUS
Subsidiary Company
GOGLIO INVESTMENTS LIMITED , CYPRUS
Subsidiary Company
GRANGOWOOD TRADING LIMITED , CYPRUS
Subsidiary Company
KLITOS SUPERMARKET LIMITED , CYPRUS , National ID: LAR003201
“Grangowood Trading Limited” – 100% subsidiary company that is acting as an
investment company on land & premises.
“A.Antonescos Developper Limited” – 100% subsidiary company (Business Name
Antonescos Hypermarket) that is involved with rending properties.
“Klitos Supermarket Limited” – 100% subsidiary company that is involved with
trading activities on a retail sale basis of foodstuff and other grocery
products.
“Asta Supermarket Limited” – 100% subsidiary company that is involved with
trading activities on a retail sale basis of foodstuff and other grocery
products.
“Bosalica Limited” – 100% subsidiary company that is involved with rending
properties
“Goglio Investments Limited” – 100% subsidiary company that is newly
established company and is involved with general trading activities.
BANKERS
BANK OF CYPRUS
PUBLIC COMPANY LIMITED
25,Kink Paul A' Square,Tel.:357 24844100 Fax:357 24653900
BNP PARIBAS (CYPRUS) LIMITED
3600 Limassol, 319, 28th October, Kaniak Business Center
COOPERATIVE CREDIT SOCIETY OF MAKRASYKA
6532 Larnaca, 68, Griva Digheni Avenue
MARFIN POPULAR BANK PUBLIC CO. LIMITED
33, Lord Byron Street, 6023 Larnaca. Tel.:+357 24814500, Fax: +357 24814111
PIRAEUS BANK (CYPRUS) LIMITED
6, Gregori Afxentiou street, 6023 Larnaca. Tel.:+357 24828800, Fax.:+357
24625087
Account numbers are not disclosed.
PRESS
02.03.2007,
http://www.stockwatch.com.cy/nqcontent.cfm?a_name=
Within the framework of the Company’s three-year strategic plan, we wish to
announce that on February 28, 2007 the Company signed an agreement for the
acquisition of activities and assets of N.K.K Froutaria Delux Ltd, which runs a
supermarket in Geri, Nicosia. The fair value of the assets to be acquired will
be set within the period of 30 days.
The Company also signed an agreement for the long-term lease of the buildings
that host the supermarket above.
The duration of the lease has been determined for 15 years, starting from March
1, 2007 to February 28, 2022 with a renewal right for 15 years more.
The main business reasons for the acquisition are the following:
1. Expansion of the Group and enforcement of its strategic plan for the opening
of smaller supermarkets.
2. Increase in the Group’s turnover.
3. Increase in the Group’s purchasing power.
4. Increase in the Group’s profitability
The acquisition was examined and evaluated by the Board of Directors of
Orphanides Public Company Limited headed by its Executive Chairman, Christos
Orphanides.
06.03.2007, http://www.stockwatch.com.cy/nqcontent.cfm?a_name=
Within the framework of the three-year strategic plan, we wish to inform you
that on March 3, 2007 the Company signed an agreement with Costas Petrou
Construction & Development Limited from Nicosia for the acquisition of a
super market, which is under construction in Dali. The acquisition price has
been set at £950,000 plus VAT.
According to the agreement, Costas Petrou Construction & Development
Limited will deliver the building by 30/10/2007.
The business reasons for the acquisition are the following:
1. Expansion of the Group and enforcement of the strategic plan via the opening
of smaller super markets.
2. Increase in the Group’s turnover.
3. Increase in the Group’s purchasing power.
4. Increase in the Group’s profitability.
The acquisition was examined and evaluated by the Board of Directors of
Orphanides Public Company Limited, headed by its Executive Chairman, Christos
Orphanides.
20.04.2007, http://www.stockwatch.com.cy/nqcontent.cfm?a_name=
Within the framework of the three-year strategic plan, we wish to inform you
that the Company signed an agreement on April 17, 2007 for the acquisition of
the activities and assets of Fthino Kalathi Limited, which operates as a super
market in Larnaca. The sale price has been set at £710,000 plus the value of
the existing stocks at the date of delivery. The date of delivery has been set
for May 1, 2007.
The Company also signed the following agreements:
a) Purchase of shares of Bosalica Limited, owner company of the plots that
house Fthino Kalathi. Following the completion of the procedures, Bosalica
Limited will be subsidiary of our Company. The amount that will be paid with
the completion of the relevant procedures stands at £610,000.
b) Purchase of plot in Poubartes area, Ayios Nicolaos, Larnaca, which will
serve the operation of the super market above. The acquisition price has been
set at £130,000.
The main business reasons for the acquisition above are:
1. Expansion of the Group and enforcement of the strategic plan, which provides
for smaller super markets.
2. Increase in the Group’s turnover.
3. Increase in the Group’s purchasing power.
4. Increase in the Group’s profitability.
The acquisition was examined and evaluated by the Board of Directors of
Orphanides Public Company Ltd, headed by Executive Chairman, Christos
Orphanides.
24.01.2008, http://www.stockwatch.com.cy/nqcontent.cfm?a_name=
Pursuant to the CSE and SEC Regulations and in order to fully inform the
shareholders and the investing public in general, the Board of Directors of
Orphanides Public Company Limited announces that:
Within the framework of its strategic plan, the Company signed an agreement on
January 15, 2008 for the acquisition of the activities and assets of Mebius
Trading Ltd, which runs a super market in Ayios Dometios, Nicosia.
The Company also signed a long term lease agreement of the buildings that host
the supermarket, which belong to Mihalco Trading Ltd.
The main term of the lease agreement is its duration, which is of 15 years
starting from January 27, 2008 and expiring on March 31, 2008. It reserves the
right to renew it for 15 years more.
The business reasons for the acquisition are the following:
1. Expansion of the Group and enforcement of its strategic plan for the opening
of smaller super markets.
2. Increase in the Group’s turnover.
3. Increase in the Group’s purchasing power.
4. Increase in the Group’s profitability.
07.08.2008, http://www.cyprussunhomes.com/index.php?option=com
“Paphos Mall” Opens. The multi-million-euro “ Paphos Mall” will be officially
inaugurated by House President Marios Karoyian on June the 26th. The 22million
euro shopping centre houses the 20th Orphanides supermarket on the island
covering 5000sq m and a range of other retail shops, including fashion and
cosmetics such as Eye Deal, Germanos, Beautyline, Ssholl, Bondon, Kappa Kids,
No Limits, Calzendonia and Charles & Keith. The “Paphos Mall” also hosts
the seventh Costa Coffee outlet and it has been planned to cover the needs of
the entire family and as a destination for a family outing. The 30,000sq m
project aims to attract local and foreign shoppers and visitors. “Paphos Mall”,
a private investment of 22million euros, is expected to make a major
contribution to the economy of the wider Paphos region, with the creation of
300 new job positions in its shops and other sectors. The “Paphos Mall” is
sited on Demokratias Avenue, at the entrance of the town.
AUDITORS / ACCOUNTANTS
Date: 31.12.2007
Financials have been audited
Company: KPMG CYPRUS, 10 Mnasiadou Street,1065 Nicosia ,P.O. Box 21121 -1502
Nicosia,Telephone: +357 22209000 Telefax: +357 22678200
SHARE CAPITAL
|
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CHARGES
|
02.12.1986 |
Mortgage |
CYP 50,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
16.05.1994 |
Mortgage |
CYP 600,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
19.09.1994 |
Floating Charge on all Company's Assets |
CYP 1,500,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
07.10.1994 |
Mortgage |
CYP 500,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
04.01.1995 |
Floating Charge on all Company's Assets |
CYP 140,000.00 |
|
in f/o:Cyprus Development Bank Limited |
|
13.01.1995 |
Mortgage |
CYP 3,750,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
13.01.1995 |
Mortgage |
CYP 1,000,000.00 |
|
in f/o:Cyprus Development Bank Limited |
|
04.01.1995 |
Floating Charge on all Company's Assets |
CYP 610,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
17.04.1995 |
Floating Charge on all Company's Assets |
CYP 300,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
03.10.1995 |
Floating Charge on all Company's Assets |
CYP 500,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
04.10.1995 |
Mortgage |
CYP 500,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
09.11.1998 |
Mortgage |
CYP 800,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
09.11.1998 |
Mortgage |
CYP 4,000,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
21.07.1999 |
Mortgage |
CYP 1,755,000.00 |
|
in f/o:Cyprus Development Bank Limited |
|
28.06.2000 |
Mortgage |
CYP 707,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
19.09.2000 |
Mortgage |
CYP 2,700,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
08.07.2002 |
Floating Charge on all Company's Assets |
CYP 4,000,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
15.07.2002 |
Mortgage |
CYP 2,000,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
25.02.2000 |
Mortgage |
CYP 1,000,000.00 |
|
in f/o:Marfin Popular Public Bank Limited |
|
27.03.2005 |
Assignment of Rights on Income |
CYP 540,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
14.06.2005 |
Mortgage |
CYP 600,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
28.09.2005 |
Floating Charge on all Company's Assets |
CYP 500,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
29.11.2005 |
Mortgage |
CYP 160,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
29.11.2005 |
Floating Charge on all Company's Assets |
CYP 3,000,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
01.12.2005 |
Mortgage |
CYP 330,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
16.12.2005 |
Mortgage |
CYP 650,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
16.12.2005 |
Mortgage |
CYP 150,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
23.12.2005 |
Mortgage |
CYP 170,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
22.08.2006 |
Mortgage |
CYP 1,140,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
03.04.2007 |
Mortgage |
CYP 770,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
03.04.2007 |
Mortgage |
CYP 800,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
05.04.2007 |
Mortgage |
CYP 1,300,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
04.05.2007 |
Mortgage |
CYP 1,650,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
04.05.2007 |
Mortgage |
CYP 350,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
09.05.2007 |
Mortgage |
CYP 340,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
31.05.2007 |
Mortgage |
CYP 1,372,000.00 |
|
in f/o:BNP Paribas (Cyprus) Limited |
|
14.06.2007 |
Mortgage |
CYP 200,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
06.08.2007 |
Mortgage |
CYP 1,832,000.00 |
|
in f/o:Cyprus Development Bank Limited |
|
31.08.2007 |
Mortgage |
CYP 700,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
26.09.2007 |
Mortgage |
CYP 440,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
26.09.2007 |
Mortgage |
CYP 625,000.00 |
|
in f/o:Marfin Popular Bank Public Company Limited |
|
26.09.2007 |
Mortgage |
CYP 1,000,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
09.10.2007 |
Mortgage |
EUR 3,104,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
09.10.2007 |
Mortgage |
EUR 1,380,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
11.10.2007 |
Floating Charge on all Company's Assets |
CYP 2,500,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
15.10.2007 |
Mortgage |
CYP 2,350,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
17.10.2007 |
Mortgage |
CYP 80,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
26.10.2007 |
Mortgage |
CYP 200,000.00 |
|
in f/o:Marfin Popular Bank Public Company
Limited |
|
01.02.2007 |
Floating Charge on all Company's Assets |
CYP 2,000,000.00 |
|
in f/o:Bank of Cyprus Public Company
Limited |
|
29.11.2007 |
Mortgage |
CYP 270,000.00 |
|
in f/o:Cooperative Credit Society
Makrasykas |
|
13.12.2007 |
Mortgage |
CYP 230,000.00 |
|
in f/o:Cooperative Credit Society
Makrasykas |
FINANCE
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RATIOS:
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GENERAL COMMENTS
The company in question
was registered on 29.11.1986 and since then is involved with the operation of
shopping malls, hypermarkets and supermarkets.
At present, the subject operates 13 hypermarkets and 3 Shopping Malls which are
located in all the major cities of Cyprus. The subject sells on retail sale
basis products such as foodstuff, alcoholic drinks and beverage kitchen-ware
articles, giftware, articles, glassware articles, clothing products for men,
women and children, toys, stationery products, household appliances, etc.
The company also maintains its own Private label products. Within Orphanides
Supermarkets most of their private label range are sold under the 'Orphanides
Quality' brand name.
They have been accredited with the H.A.C.C.P certification. Hazard Analysis of
Critical Control Points (H.A.C.C.P) is an international standard which enhances
the company’s food management system.
In Cyprus, subject is considered to be a large concern in this field.
|
Contact Person: |
Company Official |
|
Contact Tel.No.: |
+357 24846000 |
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Contact information: |
|
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CYPRUS-FACTS AND
FIGURES
|
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.44.37 |
|
UK Pound |
1 |
Rs.78.09 |
|
Euro |
1 |
Rs.63.41 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)