MIRA
INFORM REPORT
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Report Date : |
07.10.2011 |
IDENTIFICATION DETAILS
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Name : |
MARAICHAGES DU SAHARA |
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Registered Office : |
Avenue Hassan II, Immeuble Oumlil, Angle Rue Hotel de Ville, Agadir |
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Country : |
Morocco |
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Year of Establishment : |
2002 |
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Com. Reg. No.: |
1531 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Growing of vegetables and melons, roots and tubers |
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 |
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) |
|
Morocco |
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
MARAICHAGES DU SAHARA
Registration Briefing
Registration
Number: 1531
Registration
Date: 2002
Legal
Form: SOCIETE
ANONYME
Latest
Financials: N/A
Financial Briefing
Nominal
Capital: 10,000,000
Moroccan Dirham
Issued
Capital: N/A
Turnover: 200,000,000
Moroccan Dirham
Net
Profit: N/A
Net
Worth: N/A
Company Details
Company
Name: MARAICHAGES
DU SAHARA
Headquarter
Address: Avenue
Hassan II,
Immeuble
Oumlil, Angle Rue Hotel de Ville,
Agadir,
Morocco
Telephone: +212522
473015
+212528
821925
Fax: +212522
473021
+212528
843214
Company
was originally started on 2002
Registration & Legal Details
Current
Legal Form: SOCIETE
ANONYME
Registration
Address: Boulevard
Mohamed V,
Dakhla
Registration
Number: 1531
Registration
Date: 2002
Year/Date
Company Established: 2002
Registration
Town: Dakhla
Tax
Registration Number: 0271550
Capital
Currency: Moroccan
Dirham
Authorized
Capital: 10,000,000
Paid
Up Capital: 10,000,000
Shareholders
Shareholders:
Name/Other
Information Shares Held % of Voting/Non‑Voting capital
Mr.
Hassan Derham 50.00%
(VOTING)
Mr.
Pierrick Puech 50.00%
(VOTING)
Principals
Name: Mr
Hassan Derham
Position
within the company: President
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
Name: Mr
Pierrick Puech
Position
within the company: General
Director
Nationality: French
Can
fluently speak: French
Name: Mr
Mounir Khalil
Position
within the company: Administration
Manager
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
Name: Mr
Rachid Belouchi
Position
within the company: Financial
Manager
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
Name: Mr
Charles Galien
Position
within the company: Import‑export
Manager
Nationality: French
Can
fluently speak: French
Name: Mr
Ahmed Ahnane
Position
within the company: Accountant
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
Company Activities
NACE
Codes: 0113 Growing of vegetables and melons, roots and tubers
Local
Reporters consider the investigated company to be MEDIUM in their field of
concern.
Operations
Employees Company
Employs: 110
HQ Premises Operates
from: Office
Location: Central Business Area
Branches Yousra
Center II,
213
Boulevard la Résistance,
Casablanca
20490,
Morocco
Branch
is: Rented
Description
of branch: Office
Imports
Import
% and type of product: 50% Raw
Materials
Imports
From: Spain,
France, Greece, Switzerland, Lebanon,
Italy
Importing
Terms: Bank
transfer
Additional
Information: Letters of
credit
Bills
of exchange
Exports
Export
% and type of product: 80%
Exports
To: Spain,
France
Exporting
Terms: bank
transfer
Trading & Selling
Territory: 20%
Nationally, 80% International
Type
of Customer: Wholesalers,
Resellers & Supermarkets
Number
of accounts: 10
Related Companies
Subsidiaries
Affiliates
Information
on Related Companies is not available/applicable
Bankers
Société
Générale,
Branch:
Grandes Entreprises
55
Boulevard Abdelmoumen,
Casablanca,
Morocco
Société
Générale,
Branch:
Agadir
Boulevard
Mohamed V,
Agadir,
Morocco
Financial Information
Financial
Interview Date: 05/10/2011
Source: Mr.
Ahmed Ahnane Accountant
Figures
are: Estimates
Currency: Moroccan
Dirham
Months Sales Figures Sales Gross
Profit/Loss Net Profit/Loss
12 31/12/2011 210,000,000 (Projection)
12 31/12/2010 200,000,000
12 31/12/2009 130,000,000
Payments
Subject's
payments reported to be: NO COMPLAINTS
Interview & Reporter Comments
Name/Title: Mr.
Ahmed Ahnane Accountant
Comment: Subject
has confirmed the general details shown in the report.
Latest
Financial Statements are not currently available.
Reporter Comment: Please note that the companies registered
in south of Morocco (Dakhla, Laayoune...) are not obliged to publish their
accounts, therefore, the Latest Financial
Statements
are not available at the Companies Registry.
Note that we have sent a fax to the
Financial Manager in order to get
the accounts 2010 however no reply was
received as of yet.
Conclusions
Local Reputation: The company being investigated is considered by local reporters to be a Fair / Normal
Trade Risk.
General Conclusion: Subject not legally obliged to produce or publish accounts
Owner/Shareholders Comments:All or most of the owners / shareholders have an active participation in the running of the business.
Financial Results Trend: Financial Information indicates that the business activities of the company are showing an upward turn.
Age of Business: The company is long established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.49.19 |
|
|
1 |
Rs.75.92 |
|
Euro |
1 |
Rs.65.44 |
RATING EXPLANATIONS
|
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 |
|
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 |
|
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 |
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-- |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.