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Report Date : |
13.06.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
TASHARUKIAT AL WALID FOR IMPORTING FOOD STUFF
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Registered Office : |
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Country : |
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Date of Incorporation : |
Not Available |
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Com. Reg. No.: |
Not Available |
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Legal Form : |
Partnership Concern |
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Line of Business : |
Other food service activities |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
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B1 |
B1 |
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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 |
Tasharukiat Al Walid
For Importing Food Stuff
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 Number: N/A
Registration Date: N/A
Legal Form: PARTNERSHIP
Latest Financials: N/A
Nominal Capital: N/A
Issued Capital: N/A
Turnover: N/A
Net Profit: N/A
Net Worth: N/A
Company
Name: Tasharukiat
Al Walid For Importing Food Stuff
Also
trades as: Al
Siham For Importing Foodstuff
Headquarter
Address:
Telephone: +21861
3370588
+21891 3680701
Fax: +21861
3370654
E‑Mail: al.siham@yahoo.com , el_seham.egypt@yahoo.com. al‑walid44@yahoo.com
Current
Legal Form: PARTNERSHIP
Capital is NOT
disclosed.
Information
on Shareholders is not available/applicable
Name: Mr
Foli Faraj
Position within the company: General manager
Country of Birth:
Nationality: Libyan
Can fluently speak: Arabic
& English
Education:
Name: Mr
Adel
Position within the company: Financial Manager
Country of Birth:
Nationality: Libyan
Can fluently speak: Arabic
& English
Education:
Name: Ms
Eman
Position within the company: Secretary to General Manager
Address: Tel:
203 4242432
Nationality: Egyptian
Can fluently speak: English
& Arabic
NACE Codes: 5629 Other food service activities
The
company works in foodstuff (tomato products, green tea, juice, coffee, tuna,
sugar & confectionery, wafer, etc)
·
Wholesalers
Sole Agents
Local
Reporters consider the investigated company to be SMALL in their field of
concern.
HQ Premises Operates from: Office
Location: Central
Business Area
Branches
Description of branch: Office
These premises operate as:
Tel:
00218912189600 / 00218217228310,
Fax:
00218214869691
Alexandria,
Egypt
Description of branch: Office
These premises operate as: Te: 0020 3 4242432
Imports
Import % and type of product: Imports
Raw Materials, 100% Finished Goods
Imports From: Sri Lanka, China, Tunisia, Turkey, Saudi
Arabia,
Egypt
Importing Terms: Cash
Additional Information: CAD, LC
Exports
Exports To: Gulf countries
Additional Information: Exports: products (confectionery), Countries
to
which it exports:
Middle East , Type Of Foreign
Customers: Wholesalers
Type of Customer: wholesalers, retailers
Subsidiaries
Affiliates
Information
on Related Companies is not available/applicable
Gumhouria
Bank,
Branch:
Maidan Branch
Tripoli,
Libya
Payments
Subject's payments reported to be: NO COMPLAINTS
Date: 23/5/2012
Name/Title: Ms. Eman Secretary to General Manager
Comment: Subject has confirmed the general details
provided in the report but has declined to provide any
Financial Data.
Reporter Comment: Registration/ legal and financial
information is not publicly available. Thus all data stated in the report was
obtained directly from the Subject Company and/ or other publicly available
information. Therefore it should be used as a point of reference as it is not
possible to verify such data with official sources.
We have contacted subject company and talked to Ms. Eman, General
Manager's secretary, who asked us to send them a written request for the
information in order to show it to Mr. Foli Faraj, subject's founder and General Manager, but Mr.
Faraj, refused to provide detailed information claiming that subject is
considered one of the biggest companies in Libya and is well known by its
suppliers and clients.
However, the information provided in our report
was gathered from internet, business directories, and through our contacts with
subject company.
It was confirmed that subject's name is
"Tasharukiat Al Walid For Importing Foodstuff?".
It was confirmed that subject's
address is in Benghazi City, and it has branches in Tripoli and
Egypt.
It was confirmed that subject has a
bank account at Gomhouria Bank, Al Maidan Branch ‑
Tripoli, Libya.
Al Walid Co For Importing Foodstuff
Benghazi Libya imports goods from around 65 countries all
over the world. It is sole agent of
over 46 companies and distributes their products inside Libya.
Accounts Comments:
Full
Financial Statements were unavailable to local analysts so a complete and accurate picture of the financial strength of
the company could not be ascertained.
Our assessment and ratings are therefore based on non‑financial
data.
Local Reputation:
The company
being investigated is believed by local reporters to be a Medium Trade Risk.
General Conclusion:
Subject not
legally obliged to produce or publish accounts
Owner/Shareholders Comments:
Some of the
owners / shareholders have an active participation in the running of the
business.
Country Intelligence Information
Country: Libya
Date: 22/05/2012
00:00:00
Source: Economist Intelligence Unit
Economy:
Oil
production nears pre‑war levels at 1.5m b/dApril 1st 2012 Oil production
rose to an average of 1.48m barrels/day (b/d)
in the week from April 6th, just short of pre‑conflict levels, according
to the latest data from the NOC. The figures also show that the country
produced an average of 713.6m cu ft/day of associated gas and 1.5bn cu ft/d of
non‑associated gas during the same period. Condensate production averaged
68,500 b/d.
Exports of
oil by the NOC totalled 90.5m barrels in the first quarter of 2012. Foreign
partners exported another 19.4m, taking total average exports for the period to
1.21m b/d. Meanwhile, local consumption accounted for a total of 13.2m barrels
or 145,463 b/d. Italy topped the list of the NOC's offtakers, accounting for
34.2% of exports, followed by China at 15.9% and France at 8.3%.
Oil
production has been rising steadily since the final quarter of 2011, after
opposition forces gained control of the entire country and international
sanctions were lifted
Risk: April 1st 2012
JSovereign risk
Stable.
Libya is likely to have run up arrears in 2011, owing to the challenging
financial conditions resulting from the conflict. However, renewed access to
its foreign reserves and a recovery in oil revenue mean the country's repayment
capacity will be fully restored in 2012.
Currency risk
Stable. We
expect the dinar to remain pegged to the IMF's special drawing rights over the
forecast period, preventing currency volatility. Large stocks of foreign‑exchange
reserves will provide ample support to the dinar should it come under pressure.
Banking sector risk
Stable.
Rising oil revenue and the lifting of sanctions on the Central Bank of Libya
will enable the bank to increase the supply of foreign exchange to commercial
banks. Deposits will recover in line with growth in oil earnings and foreign
investment.
Political risk
The NTC
appointed a new government in November, but security issues, particularly
tensions between rival militias, will continue to pose a challenge.
Economic structure risk
Libya's
high dependency on oil for fiscal revenue, trade and growth underpins the B
rating. The country is highly vulnerable to commodity price volatility.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.56.05 |
|
UK Pound |
1 |
Rs.86.69 |
|
Euro |
1 |
Rs.69.98 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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 |
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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.