|
Report Date : |
19.03.2012 |
IDENTIFICATION
DETAILS
|
Name : |
LEONI TUNISIA GROUP |
|
|
|
|
Registered Office : |
Route de Sfax,KM 13, Sousse
4070 |
|
|
|
|
Country : |
Tunisia |
|
|
|
|
Date of Incorporation : |
2007 |
|
|
|
|
Com. Reg. No.: |
B 2487692007 |
|
|
|
|
Legal Form : |
Private Limited Co |
|
|
|
|
Line of Business : |
Manufacture of Other Electronic and Electric Wires and
Cables |
|
|
|
|
No. of Employees : |
13000 |
RATING
& COMMENTS
|
MIRA’s Rating : |
A |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Maximum Credit Limit : |
8,078,500 EUR |
|
Status : |
Good |
|
Payment Behaviour : |
Regular |
|
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 |
LEONI TUNISIA GROUP
Current Recommended Credit: 8,078,500 EUR
Payment Record: REGULAR
Registration Number: B 2487692007
Registration Date: 2007
Legal Form: PRIVATE LIMITED CO
Latest Financials: N/A
Nominal Capital: 50,000 Tunisian Dinar
Issued Capital: N/A
Turnover: 670,568,000 Tunisian Dinar
Net Profit: 6,345,000 Tunisian Dinar
Net Worth: N/A
Company Name: LEONI
TUNISIA GROUP
Company acronym: LTG
Headquarter Address: Route de
Sfax,KM 13,
M'saken,
Sousse
4070,
Tunisia
Telephone: +21673
102000
+21673
102229
+21673
285842
Fax: +21673
323830
E‑Mail: mohamed.rouis@leoni.com / abdallah.ben‑aziz@leoni.com
Web Site: www.leoni.com
Company was originally started on 2007
Registration & Legal Details
Current Legal Form: PRIVATE
LIMITED CO
Registration Address: Route de
Sfax,KM 13,
Sousse
4070
Registration Number: B 2487692007
Registration Date: 2007
Year/Date Company Established: 2007
Registration Town: SOUSSE
Tax Registration Number: 1028804 J/A/M/0
Currency: Tunisian Dinar
Authorized Capital: 50,000
Paid Up Capital: 50,000
Parent Company: LEONI
BORDNETZ‑SYSTEM,
Germany
%
Shares Held: 100.00%
Principals
Name: Mr
Mohammed El Arbi Rouis
Position
within the company: General
manager
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
Name: Mr
Helmut Zehnder
Position
within the company: Manager
Country
of Birth: Germany
Nationality: German
Can
fluently speak: French/English
Name: Mr
Abdallah Ben Aziz
Position
within the company: Financial
Director
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
NACE Codes: 2732 Manufacture
of other electronic and electric wires and cables
The entity is involved in manufacturing
of wires, optical fibers, cables and cable systems as well as related
development services for applications in the automotive business and other
industries. .
These finished goods are destined to be
absorbed exclusively and on a wholesale basis by foreign customers.
Local Reporters consider the
investigated company to be LARGE in their field of concern.
Employees Company
Employs: 13000
HQ Premises Operates
from: Owned Offices , Factory,
Warehouse
Premises
Size: 27000 square meters
Location: Industrial Area, Side Road
Branches GP1 KM
13 ROUTE DE SOUSSE,
BOUM'HAL,
BEN
AROUS 2097,
Tunisia
Description
of branch: Factory
ZONE
INDUSTRIELLE MATEUR,
BIZERTE
7030,
Tunisia
Description
of branch: Factory
ZONE
INDUSTRIELLE ROUTE DE BIZERTE ‑,
MATEUR
7030,
Tunisia
Description
of branch: Factory
ZONE
INDUSTRIELLE MESSADINE,
SOUSSE
4013
Description
of branch: Factory
Imports
Imports Raw Materials, Imports Finished
Goods
Imports From: Germany,
Spain, France
Importing Terms: Bank
transfer
Subject's Suppliers: Company Name: Groupe Chakira
Address: Tunisia
Company
Name: KBE
Address: Sousse,
Tunisia
Company
Name: Schlemmer
Address: Tunisia
Company
Name: LEONI Kabel GmbH
Address: Germany
Exports
Export
% and type of product: 100%
Exports
To: Germany,
Spain, Italy, Romania, Serbia and
Montenegro,
France, Morocco
Exporting
Terms: bank
transfer
Trading & Selling
Territory: 100%
International
Type
of Customer: Group
Companies, DAIMLER‑CHRYSLER,
VOLKSWAGEN,
AUDI
Vehicles: Total
number of vehicles: 14
6 cars
8
industrial vehicles
Related Companies
Subsidiaries
Affiliates
Information on Related Companies is not
available/applicable
UNION INTERNATIONALE
DE BANQUE,
Branch:
BAB JEDID
Sousse,
Tunisia
Account
Number: 812
500 000 325539 031 630
Relationship
with Bank: is
reported to be good
CITIBANK,
Branch:
TUNIS
Tunis,
Tunisia
Account
Number: 75
002 000024 0015 005 75
Relationship
with Bank: is
reported to be good
Financial
Interview Date: 16/03/2012
Source: Abdallah
Ben Aziz Financial Director
Figures
are: Official
Figures
Currency: Tunisian
Dinar
Months Sales Figures Sales Gross Profit/Loss Net
Profit/Loss
12 31/12/2011 670,568,000 6,345,000
Payments
Subject's payments reported to
be: REGULAR
Name/Title: Abdallah
Ben Aziz Financial Director
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. Subject was found
registered and information obtained is as follows:
Registered name/ registration date/
registration number/ registered address/ legal form/ VAT number/ capital .
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. Any other 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.
In the interview conducted with
Mr.Abdallah Ben Aziz,he confirmed details shown in this report and declined to
provide full financial details stating
the grounds of the company’s confidentiality.
N/B: The 3 affiliates LEONI WIRING
SYSTEMS MATEUR SUD, LEONI WIRING SYSTEMS MATEUR NORD and LEONI WIRING SYSTEMS EZZAHRA
used to be owned by the company VALEO, in 2010,the the GROUP LEONI BORDNETZ
SYSTEM has bought them and gave them their current names.
Please be informed that all the
companies of the group: LEONI TUNISIE,LEONI WIRING SYSTEMS MATERUR NORD/MATEUR
SUD and LEONI WIRING SYSTEMS EZZAHRA was absorbed by fusion by LEONI TUNISIA
GROUP which accepts all the assets and liabilities of these companies. the
production sites which used to be the address of these companies became
branches and all of them are under the management of LEONI TUNISIA GROUP.
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.
STATISTICAL DATA OF THE WIRES,
INSULATED CABLES AND CABLE BUNDLES
INDUSTRY (March 2012) :
‑ 69 registered industrial
companies with more than 10 employees.
‑ 9 distribute more than 20 % of
their finished goods on local buyers.
‑ 60 are totally exporting
entities.
Local Reputation: The
company being investigated is well known and trusted in the local market and is
considered to be a sound trading partner with low trade risk associated.
General
Conclusion: A
leading concern in this line, well known principals, considered good.
Financial
Results Trend: Financial
Information indicates that the business activities of the company are
showing
an upward turn.
Age of
Business: The
company is long established in the local market.
Date: 24/12/2011
Source: TUNISIAN
OFFICIAL JOURNAL
LEONI
TUNISIE and LEONI WIRING SYSTEMS MATEUR NORD are absorbed by fusion by LEONI
TUNISIA GROUP.
LEONI TUNISIA
GROUP acceptes all the assets and liabilities of the companies absorbed.
Date: 11/01/2011
Source: TUNISIAN
OFFICIAL JOURNAL
LEONI
SYSTEMS EZZAHRA is absorbed by fusion by LEONI WIRING SYSTEMS MATEUR NORD
LEONI
WIRING SYSTEMS MATEUR NORD accepts all the assets and liabilities of LEONI
WIRING SYSTEMS EZZAHRA.
Country: Tunisia
Date: 21/02/2012 00:00:00
Source: Economist Intelligence
Unit
Economy: The
current‑account deficit reaches 6.5% of GDP
January
17th 2012
Export earnings grew by 6.7% in 2011
despite the domestic economic disruption caused by the political turmoil and
the economic crisis in the euro zone. Food exports rose by 38% to TD2.6bn
(US$1.9bn), textile exports by 5.6% to TD6.4bn and mechanical and electrical
goods exports by 15% to TD9.3bn; exports of phosphates and fertilisers fell by
48% to TD1.3bn, reflecting the disruption caused to the sector by strikes and
sit‑ins. Import costs rose by 5.9% as agricultural imports rose by 27% to
TD4bn and energy imports by 26% to TD4.8bn; imports of mechanical and
electrical goods fell by 2.7% to TD14.2bn as capital investment by business
fell. The net result was a modest widening of the trade deficit to TD8.6bn.
The impact of the merchandise trade
deficit on the current account is usually offset by income from tourism and
remittances from Tunisians working abroad. However, tourism receipts in 2011
slumped by around one‑third to some TD2.3bn and remittances by 4% to
TD2.2bn. According to official figures, the current‑account deficit
reached 6.5% of GDP in the first 11 months of 2011, and this together with a
deteriorating capital account (foreign direct investment fell by 36% year on
year in the first 11 months of the year, to TD1.4bn) has required the
government to draw down heavily on its foreign reserves.
Risk: February 13th 2012
Sovereign
risk
Negative. Tunisia's public debt stock
has risen steadily since 2009 and is forecast to continue to rise in 2012‑13.
Large budget and current‑account deficits will make it more challenging
to meet external debt obligations. However, Tunisia will receive substantial
foreign aid in 2012‑13. The G8 group of major economies has promised to
almost double aid to North Africa to US$38bn.
Currency risk
Negative. We believe that the
likelihood of a break‑up of the euro area has increased (to 40%). Such a
break‑up would put considerable 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 EU in
2012. This will lead to an increase in non‑performing loans. The new
government also needs to tackle 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
the 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 possibility of a
break‑up of the euro zone.
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.