MIRA INFORM REPORT

 

 

Report Date :

20.07.2012

 

IDENTIFICATION DETAILS

 

Name :

P.I.K. DOOEL

 

 

Registered Office :

MK- 1000 Skopje; St. Franklin Ruzvelt 5a-2/1

 

 

Country :

Macedonia

 

 

Financials (as on) :

31.12.2011

 

 

Year of Establishment :

2002

 

 

Legal Form :

Limited Company

 

 

Line of Business :

Wholesale of food, eggs etc. 

 

 

No. of Employees :

Not Available

 

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 – March 31st, 2012

 

Country Name

Previous Rating

(31.12.2011)

Current Rating

(31.03.2012)

Macedonia

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

Company name and address

 

Full original Company name:

Society for the trade and services P.I.K. Who DOOEL export-import Skopje

 

Shortly name:                P.I.K. DOOEL

 

Address                          MK- 1000 Skopje; St. Franklin Ruzvelt 5a-2/1

Tel:                                 00389 2/3060 081

Fax                                00389 2/3060 083

Email:                           pic_co_mac@on.net.mk                                    

Web Site                       www.pic-co.com.mk

 

 

Summary

 

 Legal form:                     Ltd. Company              IDN 05520916                Tax No.; MK4030001413628

 

Establishment:              2002

 

Registration                   with Central Register in Skopje;

 

 

Shareholders                 P.I.C. Co, Sofia, Bulgaria

 

Management:                Director Mrs. Victoria Sotarovska

                                               

Activity                          wholesale of food, eggs…..

 

The raw materials and functional ingredients we offer are used in a wide range of productions: foods, beverages, alcoholic drinks, cosmetics, pharmaceuticals, animal feed, textile, detergents, miscellaneous other applications. We are pleased to present you our product portfolio and application areas.

 

“….The company P.I.C. Co. was established in 1992 in Sofia, Bulgaria, with the major objective to offer to the food industry new raw materials and additives so as to diversify the production and to create quality products similar to those offered to the world market. Today, despite the fact that we are one of the leading suppliers in Bulgaria, the company P.I.C. Co. has so far opened branch offices in Serbia, Romania, Macedonia and Kosovo, and we have aspirations to open new branch offices throughout the Balkan countries.

 

In Macedonia, P.I.C. Co. was established in 2002 and has so far actively been engaged in selling raw materials and functional ingredients in all sectors of the food industry: confectionary, production of cans, meat-processing, dairy industry and production of dairy desserts and ice-cream, milling and bakery, dry blends, beverages and alcoholic drinks, sports and healthy foods. Throughout the years we have expanded the range into other fields such as: animal feed and pet food, cosmetics, paper and textile industry, pharmaceutical industry, leather industry. As of the end of 2006 we have expanded our activities in the area of hygienic and microbiologic protection of every production with the most renowned tests used in world-famous accredited laboratories. The certificate ISO 9001:2000 as well as the implementation of HACCP, namely ISO 22000:2005, prove the quality of our service and raw materials.

 

 

As a representative of the leading world manufacturers of raw materials and functional ingredients for Macedonia, we constantly follow the new lines of products and technologies so as to offer them to our clients.

 

 

Apart from offering premium quality raw materials, our objective is to offer professional support and useful advice for solving the specific technological problems, as well as to introduce new products. In order to achieve this, we have created a team of employees with excellent knowledge and experience in technology for every specific production for serving clients in the Republic of Macedonia. Apart from this, our team of employees takes into account the needs of the clients in Kosovo….”

 

 

Employees:                   2009.19-;                       2010-20;            2011-20;                       (official data)

           

Turnover                        Included/

Assets/Liabilities           Included

Bankers:                       000280000000012579 Alfa banka AD

           

 

Mode of payment           we have no record about payment delay

                                   

 

Financial data

(official information)

 

 

BALANCE SHEET

December 31,2009

December 31,2010

December 31,2011

 

In MKD

In MKD

In MKD

 

1€=61.5 MKD

1€=61.5 MKD

1€=61.5 MKD

 

 

 

 

Fixed assets :                                                                  

21.632.152

 17.688.524

12,381,654

Current assets :                                                

105.730.469

132.370.811

178,110,882

-stock

23.535.820

 19.675.592

29,853,658

Total assets :                                                                                                                

127.362.621

 150.059.335

190,492,536

 

 

 

 

Shareholders funds :                              

4.617.844

5.071.972

7.050.745

-capital:                                                    

156.150

156.150

156.150

Non current liabilities:                                

0

0

0

Current Liabilities:                                   

122.744.777

 144.987.363

183,441,791

 

Liabilities:                                               

127.362.621

 150.059.335

190,492,536

 

 

P& L ACCOUNT

 

 

 

 

 

 

 

Total revenue:                                                                                

214.637.881

 329.055.858

450,380,364

Total expenses:                                       

214.390.321

 328.563.695

447,802,419

Profit                                            

213.929

454.127

1,978,773

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.55.38

UK Pound

1

Rs.86.75

Euro

1

Rs.68.06

 

 

INFORMATION DETAILS

 

Report Prepared by :

PRL

 

 

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.