MIRA
INFORM REPORT
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Report Date : |
21.01.2011 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE CHIMIQUE ALKIMIA |
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Registered Office : |
11 Rue Des Lilas, Cite |
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Country : |
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Financials (as on) : |
31.12.2008 |
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Date of Incorporation : |
March 1996 |
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Com. Reg. No.: |
B 125941996 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
Manufacture of other organic basic chemicals |
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 2,192,800 |
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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
SOCIETE CHIMIQUE ALKIMIA
Rating Briefing
Current Recommended
Credit: 2,192,800 EUR
Payment Record: NO COMPLAINTS
This rating is based on available data. In the event of additional information a possibility for a different rating applies.
Registration Briefing
Registration
Number: B 125941996
Registration Date: 03/1996
Legal Form: PUBLIC LIMITED CO
Latest Financials: N/A
Financial Briefing
Nominal Capital: 19,472,530
Tunisian Dinar
Issued Capital: 19,472,530
Tunisian Dinar
Turnover: 182,018,126
Tunisian Dinar
Net Loss: 2,943,934
Net Worth: 39,045,487,962
Tunisian Dinar
Company Details
Company Name: SOCIETE
CHIMIQUE ALKIMIA
Headquarter
Address: 11
RUE DES LILAS,
CITE
EL MAHRAJENE,
Telephone: +21671
792564
+21671
793562
+21671
846052
+21675
270146
Fax: +21671
787283
+21675
273900
E‑Mail: head.office@alkimia.com.tn
Company was
originally started on 26/09/1972
Registration & Legal Details
Current Legal
Form: PUBLIC
LIMITED CO
Additional Information: Customs ID:
121508
Registration
Address: 11
RUE DES LILAS,
Registration
Number: B
125941996
Registration Date: 03/1996
Year/Date Company
Established: 26/09/1972
Tax Registration
Number: 001716
L/A/M000
Capital
Currency: Tunisian
Dinar
Authorized
Capital: 19,472,530
Issued Capital: 19,472,530
Paid Up Capital: 19,472,530
Start up Capital:
350,000
Shareholders
Shareholders:
Name/Other
Information Shares
Held % of Voting/Non‑Voting
capital
Groupe Chimique
Tunisien 39.00% (VOTING)
Carte Assurance, 9.74% (VOTING)
IMER, 21.92% (VOTING)
STEC, 6.88% (VOTING)
Hotel Marhaba
International, 5.84% (VOTING)
Other
Shareholders, 16.62% (VOTING)
Principals
Name: Mr
Ali Ben Ali
Position within
the company: President
and managing director
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French
Education: Degree
in Engineering
Schools Attended: Ecole des
Mines Clausal
Work Experience and History: Technical Director at
Groupe Chimique Tunisien. Executive President at Arab Chemical Ferilizers
Name: Mr
Habib Hakmouni
Position within
the company: Sales
Director
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French
Name: Mr
Youssef Labiadh
Position within
the company: Technical
Director
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French
Name: Mr
Nader Benzarti
Position within
the company: Administration
& Financial Director
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French
Name: Mr
Mounir Hbaieb
Position within
the company: Plant
Manager
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French
Name: Mr
Sami Sid
Position within
the company: Commercial
Manager
Country of Birth:
Nationality: Tunisian
Can fluently
speak: French/English
Company Activities
NACE Codes: 2014 Manufacture
of other organic basic chemicals
The company is involved in the chemical products
for Industrial use as a producer and distributor of the sodium tripolyphosphate
(STPP; Na5P3O10)which is essentially used in the manufacture of powdered
detergents.
These finished goods are destined to be sold on a
wholesale basis to foreign clients.
Local Reporters consider the investigated company
to be LARGE in their field of concern.
Operations
Employees Company Employs:
310
HQ Premises Operates from: Owned Office
Location: Central Business Area, Side Road
Branches Zone Industrielle
De Ghannouch,
Gabes
6000,
Branch
is: Owned
Description
of branch: Office, Factory, Warehouse
Branch premises size: 128,514.00 sq.mtrs.
110
Rue Habib Chagra,
Gabes
6000,
Description
of branch: Shop
Imports
Import % and type of product: 35%
Raw Materials
Imports From:
Importing Terms: 60
days credit, payment order through bank
Subject's Suppliers: Company
Name: HENKEL
Address:
Company Name: PROCTER& GAMBLE
Company Name: UNILEVER
Exports
Export % and type of product: 100%
Exports To: Africa,
Exporting Terms: 90
days credit, bank transfer
Local Purchases
Purchasing Terms: 45
days bank transfer
Trading &
Selling
Territory: 100%
International
Terms of Sales: 30
days credit, letters of credit at sight
Additional Information: The
company buys 65 % raw materials from local suppliers.
Type of Customer: manufacturers
of detergents
Number of accounts:
500
Related Companies
Subsidiaries
Affiliates
GROUPE
DOGHRI
Operates
as: a holding companies operating in the financial and industrial fields
Related
through: common principals and shareholders
Bankers
BANQUE
INTERNATIONALE ARABE DE TUNISIE,
Branch:
Relationship with
Bank: is
reported to be good
Additional
Information: Date
Account Opened 1992
UNION BANCAIRE
POUR LE COMMERCE ET L'INDUSTRIE,
Branch:
Relationship with
Bank: is
reported to be good
Additional
Information: Date
Account Opened 1994
ARAB BANK
CORPORATION,
Branch:
Les Berges Du Lac,
Rue de Lac
d'Annecy,
Relationship with
Bank: is
reported to be good
Financial Information
Source: The
Tunisian stock exchange
Figures are: Official
Figures
Currency: Tunisian
Dinar
Months Sales Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 30/06/2008 182,018,126 (2,943,934)
12 31/12/2007 122,322,360 954,411
Brief Financials Data
Date Obtained: 10/02/2010
Date of Figures: 31/12/2008
Figures are: Official
Figures
Currency: Tunisian
Dinar
Issued Capital
19,472,530,000
Reserves
22,507,253,000
Retained Earnings
9,639,488
Net Worth
39,045,487,962
Long Term
Liabilities
2,809,582,876
Trade Creditors
64,927,493,793
Bank Overdraft
1,203,696,666
Misc. Current
Liabilities
1,858,255,113
Total Current
Liabilities
67,989,445,572
Total Liabilities
70,799,028,448
Fixed Assets
27,982,795,219
Intangibles
1,420,289,402
Stock 24,903,344,554
Trade Debtors
21,486,613,650
Cash 22,571,983,651
Misc. Current
Assets
12,749,129,893
Total Current
Assets
81,861,721,191
Total Assets
109,844,516,410
Payments
Subject's payments
reported to be: NO COMPLAINTS
No record has been
found of protested bills against the subject.
Representation
Auditors: AMC,ERNEST&YOUNG,
IFC
Interview & Reporter Comments
Name/Title: Sami
Essid Commercial Director
Comment: Subject
has confirmed the general details shown in the report.
Expansion Plans: The subject has an expansion
plan abroad which is the installation of a production
unity
of STTP with Al Zawel Group in Saoudi Arabia,then the purchase of 55% of shares
of the Algerian company KIMIAL.
The
subject startes the exploitation of Sabkhet Lakhyalet (tataouine/Tunisia) to
extract
the sulfate of sodium.
Reporter Comment
Date: 20/01/2011
Reporter Comment: In the interview conducted with
Mr.Sami Essid , he confirmed details shown in this report.
Please
be informed that the company address provided by the client and shown on
the
report is right.
The
company is certified in ISO 9002.
STATISTICAL
DATA OF THE CHEMICAL INDUSTRY:
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470 registered industrial companies with more than 10 employees
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390 are partially exporting entities
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80 sell more than 80 % of their finished goods to foreign end users.
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TOTALLY EXPORTING COMPANY :
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Whose at least 80 % of its production is entirely destined for export
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Whose services are rendered abroad or in
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That works exclusively with the enterprises aforementioned or in the free zones
or
with non?resident financial establishments
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Wholly exporting enterprises are subject to the free zone system.
*
BENEFIT :
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Full exoneration of income and profits from the tax base during the first ten
years
of activity and a 50% deduction thereafter.
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Extension of the period for the total deduction of income and profit from
export
operations,
the appropriate law article :
Article
29 of the finance law for the year 2003
Remaining
in application is the total deduction of income and profit from export
operations
for exporting companies within the framework of current fiscal
legalization
and for which the duration of the total deduction of their income and
profit resulting from export operations expires before 2007, and for
income and
profit
realized through to December 31, 2007.
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Tax relief on profits or income reinvested in the initial capital or increase
in
capitalization
subject to the minimum tax base.
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Tax relief on profits reinvested back into the company subject to the minimum
tax
base.
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The liberty to import free of customs duties and taxes the equipment necessary
for
production
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Total exoneration from registration fees, stamp duty and value added taxes on
the
activities of the enterprise.
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Possibility to recruit up to 4 foreign management employees.
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: A
leading concern in this line, well known principals, considered good.
Owner/Shareholders Comments: All or most of the owners /
shareholders have an active participation in the running of the business.
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.45.58 |
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1 |
Rs.72.73 |
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Euro |
1 |
Rs.61.45 |
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.