MIRA INFORM REPORT

 

 

Report Date :           

31.05.2011

 

IDENTIFICATION DETAILS

 

Correct Name :

SOCIETE CENTRAX SA

 

 

Registered Office :

Zone Industrielle Kalaâ Sghira, Kalaâ Sghira, Sousse 4021

 

 

Country :

Tunisia

 

 

Date of Incorporation :

01.12.1993

 

 

Com. Reg. No.:

B 111361999

 

 

Legal Form :

Public Limited Company

 

 

Line of Business :

Manufacturer of other parts and accessories for motor vehicles

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

90,500 EUR

Status :

Satisfactory

Payment Behaviour :

No Complaints

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 – March 31st, 2011

 

Country Name

Previous Rating

                   (31.12.2010)                  

Current Rating

(31.03.2011)

Tunisia 

a2

a2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 Bottom of Form

 

 

Company name

 

SOCIETE CENTRAX SA

 

 

Rating Briefing

 

Current Recommended Credit:              90,500 EUR

 

 

 

Registration Briefing

 

Registration Number:                             B 111361999

 

Registration Date:                                  1999

 

Legal Form:                                           PUBLIC LIMITED CO

 

Latest Financials:                                  N/A

 

 

Financial Briefing

 

Nominal Capital:                                    1,450,000 Tunisian Dinar

 

Issued Capital:                                       N/A

 

Turnover:                                               8,263,692 Tunisian Dinar

 

Net Profit:                                               578,458 Tunisian Dinar

 

Net Worth:

 

 

Company Details

 

Company Name:                                          SOCIETE CENTRAX SA

 

Headquarter Address:                                   Zone Industrielle Kalaâ Sghira,

Kalaâ Sghira,

Sousse 4021,

Tunisia

 

Telephone:                                                  +21673 249037

                                                                  +21673 249466

 

Fax:                                                            +21673 249036

E‑Mail:                                                        centrax@topnet.tn

 

Web Site:                                                    www.centrax.com.tn

 

Company was originally started on 01/12/1993

 

 

Registration & Legal Details

 

Current Legal Form:                                   PUBLIC LIMITED CO

 

Additional Information:                                Deposit Numbers: D 9117699.

 

Registration Address:                                 Zone Industrielle Kalaâ Sghira,

                                                                Sousse 4021

Registration Number:                                  B 111361999

 

Registration Date:                                      1999

 

Year/Date Company Established:                01/12/1993

 

Registration Town:                                     Sousse

 

Tax Registration Number:                           437654 H/A/M000

 

 

Capital

 

Currency:                                                                      Tunisian Dinar

Authorized Capital:                                                               1,450,000

Paid Up Capital:                                                                   1,450,000

 

 

Shareholders

 

Shareholders:

 

Name/Other Information                                                    Shares Held    % of Voting/Non‑Voting capital

Faycal Achour (Principal Shareholder),

Tunisia

 

 

Principals

 

Name:                                                       Mr Faycal Achour

Position within the company:                      President and managing director

Country of Birth:                                         Tunisia

Nationality:                                                Tunisian

Can fluently speak:                                    French/English

 

Name:                                                       Ms Habiba Kreede

Position within the company:                      Principal

Country of Birth:                                         Tunisia

Nationality:                                                Tunisian

Can fluently speak:                                    French

 

 

Company Activities

 

NACE Codes:          2932           Manufacture of other parts and accessories for motor vehicles

 

The subject is involved in manufacturing of Diverse works from metal ‑ Automobile equipment as Rims and wheels ‑ Water pump ‑ Other boiler works ‑ Vehicle reservoirs ‑Brake fluid, made from the imported raw materials then sold in the local and  foreign clients on a wholesale basis.

 

Local Reporters consider the investigated company to be MEDIUM in their field of concern.

 

Operations

 

Employees                                               Company Employs: 55

 

HQ Premises                                            Operates from:     Rented Office , Factory, Warehouse

Location:                                                   Industrial Area, Main Road

 

Imports

 

Import % and type of product:                   100% Raw Materials

Imports From:                                          Belgium, Morocco, India, France, Turkey

Importing Terms:                                      60 days credit, letters of credit

 

Exports

 

Export % and type of product:                   40%

Exports To:                                              France, Algeria, Libya

Exporting Terms:                                      90 days credit, bank transfer

 

 

Trading & Selling

 

Territory:                                                  60% Nationally, 40% International

Terms of Sales:                                        30 days credit, irrevocable letters of credit

Type of Customer:                                    Group Companies, Automobile's wholesalers and retailers

 

 

Related Companies

 

Subsidiaries

Affiliates

Information on Related Companies is not available/applicable

 

 

Bankers

 

AMEN BANK,

Branch: Kalaa Sghira

Sousse 4021,

Tunisia

1999

Relationship with Bank:                                is reported to be satisfactory

 

BANQUE DE TUNISIE

Sousse,

Tunisia

2000

Relationship with Bank:                                is reported to be satisfactory

 

 

Financial Information

 

Source:                                                     The local tax office

Figures are:                                               Estimates

Currency:                                                  Tunisian Dinar

 

Months   Sales Figures                             Sales        Gross Profit/Loss                           Net Profit/Loss

               12                31/12/2009              8,263,692                                                                   578,458

               12                31/12/2008              7,995,100                                                                   559,657

               12                31/12/2007              7,867,035                                                                   550,692

 

 

 

 

 

 

Payments

 

Subject's payments reported to be:        NO COMPLAINTS

 

 

Interview & Reporter Comments

 

Name/Title:                                                Habiba Kreede Principal

 

Comment:                                                 Latest Financial Statements are not currently available.

Subject has confirmed the general details provided in the report but has declined to provide any Financial Data.

 

Reporter Comment:                                    In the interview conducted with Ms.Habiba Kreede, she 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.

 

Please be informed that the given financial data were obtained from the local tax office as estimated figures for this entity as the full and official ones are not divulgable.

 

THE STATISTICAL DATA OF THE Diverse works from metal ‑ Automobile  equipment (May2011)

 

            ‑01  Registered industrial companies with more than 10 employees.

            ‑01  are partially exporting companies

 

            • SOLVENCY:

 

            ‑ Banking appreciation: SATISFACTORY

            ‑ Payments: NO COMPLAINT

            ‑ Business or commercial morality: Local.

            ‑ Registered incidents: NONE

 

            Our general evaluation is:

 

            ? MEDIUM Size Company.

 

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.

 

Age of Business:           The company is long established in the local market.

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.45.10

UK Pound

1

Rs.74.27

Euro

1

Rs.64.35

 

 

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

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

----

NB

New Business

----

 

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%)

 

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.