MIRA INFORM REPORT

 

 

Report Date :

31.01.2012

 

IDENTIFICATION DETAILS

 

Correct Name :

COMMERCE GENERAL ET DE PRODUITS CHIMIQUES

 

 

Registered Office :

Route de Sousse Km 6, Ben Arous 2033

 

 

Country :

Tunisia

 

 

Date of Incorporation :

1998

 

 

Com. Reg. No.:

B 119501998

 

 

Legal Form :

Private Limited Co

 

 

Line of Business :

Wholesale of Chemical Products

 

 

No. of Employees :

17

 

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

 

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 – September 30, 2011

 

Country Name

Previous Rating

(30.06.2011)

Current Rating

(30.09.2011)

Tunisia

A2

A2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

Company name

 

COMMERCE GENERAL ET DE PRODUITS CHIMIQUES

 

 

Registration Briefing

 

Registration Number:                             B 119501998

 

Registration Date:                                  1998

 

Legal Form:                                           PRIVATE LIMITED CO

 

Latest Financials:                                  N/A

 

 

Financial Briefing

 

Nominal Capital:          1,000,000 Tunisian Dinar

 

Issued Capital: N/A

 

Turnover:         N/A

 

Net Profit:        N/A

 

Net Worth:       N/A

 

 

Company Details

 

Rime Reference:            10206253

Company Name:            COMMERCE GENERAL ET DE PRODUITS CHIMIQUES

Company acronym:        COGEPC

Headquarter Address:     Route de Sousse Km 6,

Megrine,

Ben Arous 2033,

Tunisia

 

Telephone:        +21671 434022

+21671 434663

 

Fax:                  +21671 434793

 

 

 

Company was originally started on 16/06/1999

 

 

 

Registration & Legal Details

 

Current Legal Form:                   PRIVATE LIMITED CO

Registration Address:                 Route de Sousse Km 6,

Ben Arous 2033

Registration Number:                  B 119501998

Registration Date:                      1998

Year/Date Company Established:16/06/1999

Registration Town:                     Ben Arous

Tax Registration Number:           023121 M

 

 

Capital

 

Currency:          Tunisian Dinar

Authorized Capital:         1,000,000

Paid Up Capital: 1,000,000

 

 

Shareholders

 

Parent Company:                                     HAMROUNI GROUP,

                                                                Tunisia

                                                                % Shares Held:   100.00%

 

 

Principals

 

Name:                                                       Mr Abdellatif Hamrouni

Position within the company:                      General manager

Country of Birth:                                         Tunisia

Nationality:                                                Tunisian

Can fluently speak:                                    French/english

 

Name:                                                       Mr Abdelkader Hamrouni

Position within the company:                      Manager

Country of Birth:                                         Tunisia

Nationality:                                                Tunisian

Can fluently speak:                                    French

 

Name:                                                       Mr Mehrez Barnoussi

Position within the company:                      Financial Director

Country of Birth:                                         Tunisia

Nationality:                                                Tunisian

Can fluently speak:                                    French/English

 

 

Company Activities

 

NACE Codes:    4675     Wholesale of chemical products

 

The subject is a wholesaler and a retailer of chemicals products, which are re‑sold to the local and foreign clients.

 

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

 

 

Operations

 

 Employees      Company Employs: 17

 

HQ Premises    Operates from:   Owned Office , Warehouse

Location:           Industrial Area, Side Road

 

Branches         Rades Port,

Rades,

Tunisia

Description of branch: Warehouse

 

Imports

 

Import % and type of product:     100% Finished Goods

Imports From:    France, Italy, Spain, Germany

Importing Terms:            60 days credit, letters of credit

 

Exports

 

Export % and type of product:     10%

Exports To:       Central Asia, Libya, Algeria

Exporting Terms:           90 days credit, bank transfer

 

Trading & Selling

 

Territory:           90% Nationally, 10% International

Type of Customer:          Group Companies, wholesalers and industrial companies

 

 

 

Related Companies

 

Subsidiaries

Affiliates

Comptoirs Sfaxiens

Route GP1 Km 12,

Ben Arous,

Tunisia

Start Date: 1932

Operates as: Sale of building materials.

Related through: a common shareholder

 

SOCIETE TUNISIENNE

D’OLEAGINEUX ( SOTUNOL)

RTE DE SOUSSE KM 6,

Ben Arous,

Tunisia

Start Date: 1976

Operates as: A manufature of industrial and construction paints.

Related through: a common shareholder

 

POLYMOUSSE

RTE DE SOUSSE KM 6,

Ben Arous,

Tunisia

Start Date: 1976

Operates as: a chemical industry.

Related through: a common shareholder

 

SOCIETE CHIMICOULEURS

KM 9 RTE DE MORNAG,

Ben Arous,

Tunisia

Start Date: 1989

Operates as: a chemical industry.

 

Related through: common principals and shareholders

 

SOCIETE INDUSTRIELLE DE

RESINES ET DE COLLE

SYNTHESE

RTE DE SOUSSE KM 6,

Ben Arous,

Tunisia

Start Date: 1984

Operates as: a chemical industry.

Related through: common principals and shareholders

 

SYNTHETIC RESINES AND

GLUES RCS

Route de Sousse km 6 Megrine

2033,

Ben Arous,

Tunisia

Operates as: A manufacture of resins

Related through: a common shareholder

 

IMMOBILIERE KHAIRI

32 Route Kamel Ataturk 1001,

Tunis,

Tunisia

Operates as: A real estate company.

Related through: a common shareholder

 

COTUMEX NEGOCE

Route de Sousse road km 6

Megrine 2033,

Ben Arous,

Tunisia

Start Date: 1992

Operates as: International Trading company.

Related through: a common shareholder

 

SOTIPAPIER

Route de Sousse Km 6 Megrine

2033,

Ben Arous,

Tunisia

Start Date: 1981

Operates as: A manufacture of kraft paper.

Related through: a common shareholder

 

 

Bankers

 

Attijari Bank,

Branch: Rades

Tunisia

Tel: 21671 434708

Relationship with Bank:                                is reported to be satisfactory

Additional Information:                                  Date Account Opened 1999.

 

 

Financial Information

 

---

 

 

 

Payments

 

Subject's payments reported to be:        NO COMPLAINTS

 

 

Interview & Reporter Comments

 

Name/Title:        Mehrez Barnoussi Financial Director

Comment:         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 Mr.Mehrez Barnoussi, 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.

 

* PARTIALLY EXPORTING COMPANY:

‑ Enterprises considered as partially exporting are companies that realize less than

80% of their turnover from exporting.

 

* BENEFIT :

‑ Suspension of value added taxes and consumption taxes on equipment, products

and services necessary for the realization of their export operations.

‑ Full exoneration of income and profits from the tax base during the first ten years

of activity and a 50% deduction thereafter.

‑ Relaxation of the temporary admission or bonded warehouse system for

equipment and products imported for use in the production of goods destined for

export.

‑ Reimbursement of customs duties and taxes paid on raw materials and

semi‑finished products destined to be transformed for export.

‑ Reimbursement of customs duties and similar taxes paid on imported equipment,

and not manufactured locally, for the production of goods for export.

 

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 a long established family run business.

 

 

 

                                                                                               


 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.49.50

UK Pound

1

Rs.77.73

Euro

1

Rs.65.18

 

 

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.