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Report Date : |
14.06.2012 |
IDENTIFICATION DETAILS
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Name : |
DAR FESTIVAL BEN MLOUKA |
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Registered Office : |
76 Rue Sidi Mahrez, |
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Country : |
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Year of Establishment : |
2011 |
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Com. Reg. No.: |
B 1182662011 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale of textiles |
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No. of Employees : |
5 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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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) |
|
Tunisia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
DAR FESTIVAL BEN MLOUKA
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: B
1182662011
Registration
Date: 2011
Legal
Form: PRIVATE
LIMITED CO
Latest
Financials: N/A
Nominal
Capital: 350,000
Tunisian Dinar
Issued
Capital: N/A
Turnover: N/A
Net
Profit: N/A
Net
Worth:
NB NEW
BUSINESS
Subject is under 18 months old. Monitoring its future progress is recommended.
Company
Name: DAR
FESTIVAL BEN MLOUKA
Headquarter
Address: 76
Rue Sidi Mahrez,
Tunis
1006,
Tunisia
Telephone: +21671
560054
Fax: +21671
574904
E‑Mail: festivalbm@yahoo.com
Company
was originally started on 05/2012
Current
Legal Form: PRIVATE
LIMITED CO
Additional
Information: Customs
ID: 1219448 W
Registration
Address: 76 Rue
Sidi Mahrez,
Tunis
1006
Registration
Number: B
1182662011
Registration
Date: 2011
Year/Date
Company Established: 05/2012
Registration
Town: Tunis
Tax
Registration Number: 1219448
W/A/M00
Currency: Tunisian
Dinar
Authorized
Capital: 350,000
Paid
Up Capital: 350,000
Shareholders:
Name/Other
Information Shares
Held % of Voting/Non‑Voting
capital
Ben
Mouka Family, 100.00%
(VOTING)
Tunisia
Name: Mr
Fathi Ben Mlouka
Position
within the company: General
manager
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
NACE
Codes: 4641 Wholesale of textiles
The subject
is involved in trade of textiles for furniture and decor.
These
goods are imported and local purchased then sold to the local clients in a
retail basis.
Local
Reporters consider the investigated company to be MEDIUM in their field of
concern.
Employees Company
Employs: 5
Group
employs: 38 staff
HQ Premises Operates
from: Rented Office , Shop
Location: Central Business Area
Imports
Import
% and type of product: 80% Finished
Goods
Imports
From: Europe,
India
Importing
Terms: Letters of
credit
Additional
Information: The other
payment method is cash against document.
Exports Export % and type of product: Subject does not export
Trading & Selling
Territory: 100%
Nationally
Type
of Customer: General
Public, Retailers
Subsidiaries
Affiliates
FESTIVAL BEN MLOUKA
4,Rue
de Bone,1000,
Tunis,
Tunisia
Start
Date: 1970
Operates
as: A wholesaler of textiles.
Related
through: common shareholders
BANQUE
DE TUNISIE
Rue de
Rome,
Tunis
1001,
Tunisia
Additional
Information: Date
Account Opened : 2011
Payments
Subject's
payments reported to be: NO COMPLAINTS
Name/Title: Fathi Ben Mlouka General manager
Comment: Subject has confirmed the general details shown in the report.
Reporter Comment: All legal forms in Tunisia are obliged by law to be registered with the Registry office (a dept. of
the Court) which is not publicly available.
Some of the companies can also be found listed in the Tunisian Official Gazette which is
publicly available. However we could not find any information on the Subject company
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.
According to the Tunisian Commercial Law, only the listed companies in the Tunisian Stock
Exchange are obliged to publish their financial accounts. Financial information on other legal
forms can only be obtained from the Companies directly.
In the interview conducted with Mr. Fathi Ben Mlouka, he confirmed details shown in this report
and declined to provide bank account number and the names of shareholders stating the
grounds of the company’s confidentiality.
Please be informed that the address and contact details provided with your enquiry belong to
the company FESTIVAL BEN MLOUKA, the subject's contact detail and address are given in
this report.
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.
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.
Age of Business: The company is classified as a New Business (under 18 months old), the progress of this company remains to be seen.
Country: Tunisia
Date: 22/05/2012 00:00:00
Source: Economist Intelligence Unit
Economy: Signs of economic recovery appearApril 1st 2012
Several promising indicators in the first quarter suggest that the economy has begun to grow again
following the economic contraction in 2011. The value of exports in the first three months rose by
9.1% year on year, to TD6.4bn (US$4.4bn), on the back of strong exports of manufactured goods.
However, the import bill surged by 21.6% to TD9.1bn, partly because of a sharp rise in the cost of
energy imports as global oil prices rose, but also as a result of robust growth in imports of capital
equipment and industrial raw materials, which indicates stronger investment in manufacturing inputs.
Investment in industry rose by 15.4% year on year to TD541m (US$375m) in the first two months of
2012. Tourist arrivals were 46% higher at 660,000 in the first three months of 2012 than in the same
period of 2011 (although still 16% lower than in the same period of 2010). Tourism receipts were 33%
higher at TD524m and remittances from Tunisians working abroad 18% higher at TD445m in the
same period. Tourism contributes around 7% of GDP and accounts for 450,000 jobs. The recovery of
the stockmarket, the Bourse de Tunis, initially sluggish, has gathered pace, reflecting growing
investor confidence. The TunIndex reached 5,002.1 on April 10th, a rise of 4.8% from the start of the
year and only 2.2% below its level at the end of 2010.
Nevertheless, economic recovery is being held back by continuing social unrest and a lack of
business confidence in future economic policy. The economy remains fragile and vulnerable to any
increase in social unrest or instability that might arise out of the difficult debates over the country's
political future. The contraction of growth in the euro zone in 2012 will also slow the pace of Tunisia's
recovery, given the strong links in terms of trade, tourism, remittances and investment.
Risk
Sovereign risk
Negative. The government will find it challenging to meet its external debt obligations given the large
and rising budget and current‑account deficits. The public debt stock has risen steadily since 2009
and is forecast to continue to rise in 2012‑13. However, Tunisia will receive substantial foreign aid.
The G8 countries have promised to almost double aid to North Africa to US$38bn.
Currency risk
Negative. The likelihood of a break‑up of the euro area has declined although it remains high in spite
of a liquidity injection into euro zone banks in December 2011 and February 2012. A break‑up would
put pressure on the dinar, which is pegged to a basket of currencies, of which the euro accounts for
two‑thirds.
Banking sector risk
Stable. Economic growth in Tunisia is forecast to be moderate in 2012‑13 owing to a contraction in
the euro zone and domestic unrest. This will lead to an increase in non‑performing loans. The new
government also needs to decide what to do with the stakes in banks held by relatives of the former
president.
Political risk
The new government should bring some stability to the economy, but the risk of an escalation of
protests is high if economic conditions do not improve.
Economic structure risk
Tunisia's dependence on the EU for trade, remittances and tourism is a great concern given the
expected economic contraction in the euro zone.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.85 |
|
|
1 |
Rs.86.88 |
|
Euro |
1 |
Rs.69.88 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.