MIRA INFORM
REPORT
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Report Date : |
17.01.2011 |
IDENTIFICATION DETAILS
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Correct Name : |
GROUPE CHIMIQUE TUNISIEN |
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Registered Office : |
7 Rue du Royaume d'Arabie |
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Country : |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
B 133611997 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Wholesaler of Chemical Products |
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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Maximum Credit Limit : |
25,821,000 EUR |
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Status : |
Good |
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Payment
Behaviour : |
No Complaints |
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Litigation : |
Clear |
NOTES :
Any query related to this report can be made
on e-mail : infodept@mirainform.com
while quoting report number, name and date.
ECGC Country Risk Classification List – June 30, 2010
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Country Name |
Previous Rating (01.04.2010) |
Current Rating (30.06.2010) |
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a2 |
a2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low |
A2 |
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Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
Company name
GROUPE CHIMIQUE TUNISIEN
Rating Briefing
Current Recommended Credit: 25,821,000 EUR
Payment Record: NO COMPLAINTS
Registration Briefing
Registration Number: B 133611997
Registration Date: 1997
Legal Form: PUBLIC LIMITED CO
Latest Financials: N/A
Financial Briefing
Nominal Capital: 277,715,704 Tunisian Dinar
Issued Capital: N/A
Turnover: 2,143,300,000 Tunisian Dinar
Net Profit: N/A
Net Worth: N/A
Company Details
Company Name: GROUPE
CHIMIQUE TUNISIEN
Company acronym: GCT
Headquarter Address: 7 Rue du Royaume d'Arabie
Saoudite,
Le
Belvedere,
Telephone: +21671
783822
+21671 784488
+21675 271800
Fax: +21671
783495
+21675
272299
E‑Mail: gct@gct.com.tn
Web Site: www.gct.com.tn
Company was originally started on 31/12/1952
Registration & Legal Details
Current Legal Form: PUBLIC
LIMITED CO
Registration Address: 7
Rue du Royaume d'Arabie Saoudite,
Registration Number: B
133611997
Registration Date: 1997
Year/Date Company Established: 31/12/1952
Tax Registration Number: 003876
L/A/M000
Capital
Currency: Tunisian
Dinar
Authorized Capital: 277,715,704
Paid Up Capital: 277,715,704
Previous Capital amount:
238,042,032
Capital increase on 07/2005
Shareholders
Shareholders:
Name/Other Information
Shares Held %
of Voting/Non‑Voting capital
The Tunisian state
100.00% (VOTING)
Principals
Name: Mr
Mohamed Ridha Ben Mosbah
Position within the company: President and managing
director
Country of Birth:
Nationality: Tunisian
Can fluently speak: French / English
Name: Mr
Moncef Boussen
Position within the company: Managing director
Country of Birth:
Nationality: Tunisian
Can fluently speak: French/English
Name: Mr
Hachemi Ayadi
Position within the company: Commercial Director
Country of Birth:
Nationality: Tunisian
Can fluently speak: French
Name: Mr
Raouf Barouni
Position within the company: Production Director
Country of Birth:
Nationality: Tunisian
Can fluently speak: French
Name: Mr
Mounir Smida
Position within the company: Financial Director
Country of Birth:
Nationality: Tunisian
Can fluently speak: French
Company Activities
NACE Codes: 4675 Wholesale of chemical products
0891 Mining of chemical and fertiliser
minerals
2013 Manufacture of other inorganic basic
chemicals
The subject is involved in manufacturing of Nitrogen fertilizer ‑ Phosphate or potassium fertilizer ‑ Other nitrogen products and fertilizer ‑ Inorganic compounds (acids, bases, salts).
These goods are sold to the local and foreign clients in a wholesale basis.
Local
Reporters consider the investigated company to be LARGE in their field of
concern.
Operations
Employees Company Employs: 4158
HQ Premises Operates from: Owned Office , Warehouse
Location: Central
Business Area, Side Road
Branches 110 Rue Habib Chagra,
Gabes 6000,
Description of branch: Office
Sfax 3000,
Description of branch: Office
Skhira,
Sfax 3000,
Description of branch: Factory
Gafsa 2100,
Description of branch: Factory
Tunis 2016,
Description of branch: Office,
Warehouse
Imports
Import % and type of product: 25% Finished Goods
Imports From:
Importing Terms: 60 days credit, payment order
through bank
Exports
Export % and type of product: 10%
Exports To:
Exporting
Terms: 60 days credit,
bank transfer
Trading & Selling
Territory: 90% Nationally, 10% International
Additional Information: The subject buys 75 % raw materials from local suppliers.
Type of Customer: chemical and fertilizer manufacturers
Related Companies
Subsidiaries
Affiliates
Compagnie de Phosphates de
Gafsa
Start
Date: 1972
Operates as: a producer of the phosphates and
derivates.
Related through: a common shareholder
Bankers
Union Bancaire pour le Commerce et
l'Industrie
Relationship with Bank: is reported to
be good
Additional Information: Date Account
Opened 1960
Financial Information
Source: L'economiste
Maghrebin
Figures are: Estimates
Currency: Tunisian
Dinar
Months Sales
Figures Sales Gross Profit/Loss Net Profit/Loss
12 31/12/2009 2,143,300,000
12 31/12/2008 4,423,000,000
Payments
Subject's payments reported to be: NO
COMPLAINTS
Interview & Reporter Comments
Name/Title: Mounir Smida Financial Director
Comment: Subject has confirmed the general details shown in the report.
Reporter Comment: Please be informed that the financial
details given in this report are provided by the Magazine "L'economiste
Maghrebin" (the Annual classification of the 500 biggest company in
In the interview conducted with Mr. Mounir Smida, he confirmed details shown
in this report and declined to provide financial details and bank account
number stating the grounds of the company’s confidentiality.As per Tunisian
Commercial law companies, except the quoted public limited ones, are not
required to file their financials and are under no obligation to provide such
details to third parties, representatives and or correspondents representing
international and or local clientele.
Conclusions
Local Reputation: The company being investigated is
well known and trusted in the local market and is
considered to be a sound trading partner with
low trade risk associated.
General Conclusion: As a State‑owned concern adequate
resources should be made available.
Age of Business: The company is long established in
the local market.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.45.30 |
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1 |
Rs.71.73 |
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Euro |
1 |
Rs.60.40 |
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 |
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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NB |
New Business |
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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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.