MIRA INFORM REPORT

 

 

Report Date :           

17.03.2012

 

IDENTIFICATION DETAILS

 

Name :

SAIDAL FILIALE BIOTIC SPA

 

 

Registered Office :

35, Avenue Youcef Khettab El Mouhamadia

 

 

Country :

Algeria

 

 

Date of Incorporation :

11.02.1998

 

 

Com. Reg. No.:

00B0343570

 

 

Legal Form :

Società Per Azioni

 

 

Line of Business :

Subject is engaged in pharmaceutical Products Supplying Company

 

 

No. of Employees :

70

 

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

 

Maximum Credit Limit :

USD 100,000

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 30th, 2011

 

Country Name

Previous Rating

                   (30.06.2011)                  

Current Rating

(30.09.2011)

Algeria

b1

b1

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

SUBJECT'S NAME   

 

Registered Name:                                  SAIDAL FILIALE BIOTIC SPA

Requested Name:                                  SAIDAL FILIALE BIOTIC SPA

Other Names:                                        None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:                                  35, Avenue Youcef Khettab El Mouhamadia

Postal Address:                                     BP 109, Mohammadia El-Harrach

                                                            Alger

Country:                                                Algeria

Phone:                                                  +213-21-53819/828971/538335/530576/820308/

                                                            506042/538971/8213/19

Fax:                                                      +213-21-530576/505268/538661/538970

Email:                                                   f.akacem@saidalgroup.dz

Website:                                               www.saidalgroup.dz

 

 

CREDIT OPINION

 

Financial Index as of December 2011 shows subject firm with a medium risk of credit. However, bank and credit information obtained reveal a history of prompt payments. We recommend Credit of USD 100,000 on 90 days.

 

 

LEGAL

 

Legal Form:                                                    Società Per Azioni

Date Incorporated:                                           11/02/1998

Reg. Number:                                                 00B0343570

Nominal Capital                                               DZD. 10,000,000

Subscribed Capital                                          DZD. 10,000,000

 

Subscribed Capital is Subscribed in the following form:

                                                                     Position                          Shares

Mr. Boumedienne Derkaoui                              President                        

Mr. Tata Youcef                                              Director                           

Mr. David Saidal                                              Director                           

Mr. Ali Aoun                                                   Director                           

Mr. Rachid Zaouani                                         Director                           

Groupe Saidal                                                 Holding Company              100%

 

RELATED COMPANIES  

 

Groupe Saidal                                                 Parent company.

None                                                              Subsidiary company.

SAIDAL ANTIBIOTICAL,

SAIDAL PHARMAL,

SAIDAL SOMEDIAL.                                       Affiliated company.

None                                                              Shareholder of subject firm.

None                                                              Branches of the firm

 

 

OPERATIONS

 

Registered to operate as pharmaceutical products supplying company

Imports:                                                          Europe, Middle East  and Asia

Exports:                                                         None

Trademarks:                                                   None

Terms of sale:                                                 Cash (30%) and 30 days (70%), invoices.

                                                                    

Main Customers:                                             firms and organizations  

Employees:                                                    70 employees.

Vehicles:                                                        Several motor vehicles.

Territory of sales:                                            Algeria

Location:                                                        Owned premises, 5.000 square feet,

 

 

AUDITORS AND INSURANCE   

 

Auditors:                                                        Information not available.

Insurance Brokers:                                          Information not available.

                                                                    

 

FINANCE 

 

Currency Reported:                                         Algerian Dinar (DZD.)

Approx. Ex. Rate:                                           1 US Dollar = 74.61 Algerian Dinar

Fiscal Year End:                                             December 31, 2011

Inflation:                                                         According to information given by independent sources, the

                                                                     inflation at December 31st, 2011 was of 13%.

 

Financial Information not Submitted           

                                                                    

Profit and Loss (expressed in DZD.)

                                                                     2010                        2011

Sales                                                             302,500,000             333,000,000

BANK 

 

Bank Name:                                                   CREDIT POPULAIRE CD'ALGERIE CPA

Branch:                                                          Alger, Algeria

Comments:                                                     None

 

 

TRADE REFERENCES    

 

Experiences:                                                  Good

                                                                    

 

NOTARIAL BONDS   

 

None

 

 

COMMENTS / ADDITIONAL INFORMATION    

 

This information was obtained from outside sources other than the subject company itself and confirmed the above subject.

                                                                    

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.50.31

UK Pound

1

Rs.79.04

Euro

1

Rs.65.82

 

 

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.