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Report Date : |
16.05.2012 |
IDENTIFICATION DETAILS
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Correct Name : |
SOCIETE BSB .SA |
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Registered Office : |
Zone Industrielle Sidi Daoud,Route
Nationale N° 9, |
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Country : |
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Year of Establishment : |
1997 |
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Com. Reg. No.: |
B 1138121997 |
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Legal Form : |
Public Limited Company |
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Line of Business : |
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No. of Employees : |
172 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 |
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Risk Category |
ECGC Classification |
|
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 |
SOCIETE BSB .SA
Payment
Record: REGULAR
This rating
is based on available data. In the event of additional information a
possibility for a different rating applies.
Registration
Number: B
1138121997
Registration
Date: 1997
Legal
Form: PUBLIC
LIMITED CO
Latest
Financials: N/A
Nominal
Capital: 6,696,000
Tunisian Dinar
Issued
Capital: N/A
Turnover: 61,000,000
Tunisian Dinar
Net
Profit: N/A
Net
Worth: N/A
Company Name: BSB
AUTOMOBILES
Country: TU
Street Name: BSB
GROUP SIEGE SOCIAL: ZONE INDUSTRIELLE ROUTE
DE
City Code: TUNIS
Post Code: LA
MARSA TUN
Phone Number: +21671777000
Fax Number: +21671777001
Comments: HEAD QUARTER: 11 RUE
KAMEL ATATURK‑1001,
TUNIS‑TUNISIA
TEL: +21671205599
FAX: +21671205426
CONTACT PERSON: MR. AREF BELKHIRIA, EXECUTIVE
PRESIDENT/ NACEF BELKHIRIA, EXECUTIVE VICE
PRESIDENT
Company Name: SOCIETE
BSB .SA
Company acronym: BSB
Headquarter Address: Zone
Industrielle Sidi Daoud,Route Nationale N° 9,
La Marsa,
TUNIS 2076,
Tunisia
Telephone: +21671
205599
+21671 854854
+21673 320330
Fax: +21671
205426
+21671 854019
+21673 320443
E‑Mail: toyota@toyota.com.tn
Web Site: www.toyota.com.tn
Company was originally started on 1997
Current Legal Form: PUBLIC
LIMITED CO
Registration Address: Zone
Industrielle Sidi Daoud,Route Nationale N° 9,
TUNIS 2076
Registration Number: B 1138121997
Registration Date: 1997
Year/Date Company Established: 1997
Registration Town: TUNIS
Tax Registration Number: 033319 B/A/M000
Currency: Tunisian
Dinar
Authorized Capital: 6,696,000
Paid Up Capital: 6,696,000
Parent Company: BELKHIRIA
GROUP,
RUE KAMEL ATATURK,
TUNIS,
Tunisia
% Shares Held: 100.00%
Name: Mr Moez
Belkhiria
Position
within the company: President
and managing director
Town
of Birth: Tunis
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
Name: Mr
Ghaleb Belkhiria
Position
within the company: Vice
President and managing director
Town
of Birth: Tunis
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
Name: Ms
Zohra Boukhris
Position
within the company: Assistant
to President and managing director
Country
of Birth: Tunisia
Nationality: Tunisian
Can
fluently speak: French/English
NACE Codes: 4511 Sale
of cars and light motor vehicles
The company is involved in the sale
trade of vehicles, it's the TOYOTA's
dealership in Tunisia.
These vehicles are destined to be sold
to the local clients.
Local Reporters consider the
investigated company to be LARGE in their field of concern.
Employees Company
Employs: 172
HQ Premises Operates
from: Owned Office , Showroom
Premises Size: 22500
square meters site
Location: Main
Road
Branches Route
de Monastir,
Sidi Abdelhamid,
SOUSSE 4000,
Tunisia
Description of branch: Showroom
Rue 8612,Zone Industrielle Charguia 1,
Tunis Carthage 2035,
Tunisia
Description of branch: Showroom
Imports
Import % and type of product: 100% Finished Goods
Imports From: Japan
Importing Terms: Bank
transfer
Agencies:
TOYOTA Japan CARS
Exports
Export % and type of product: Subject does not export
Trading & Selling
Territory: 100%
Nationally
Type of Customer: General
Public, Group Companies
Subsidiaries
Affiliates
BELKHIRIA IMMOBILIERE
RUE KAMEL ATATURK,
TUNIS,
Tunisia
Operates as: a real estate promotion company
Related through: common principals and shareholders
DOMOTECH
AVENUE DAG HAMMARSKJOLD,
TUNIS,
Tunisia
Operates as: a distributor of the air‑conditioners.
Related through: common principals and shareholders
NETWAY BSB
50,Avenue Taher Ben
Achour, Mutuelleville,
Tunis,
Tunisia
Operates as: distribution of computer hardware
Related through: a common shareholder
BSB DISTRIBUTION
11,Rue Kamel Attaturk,
Tunis,
Tunisia
Operates as: wholesaler of office equipments and machines.
Related through: a common shareholder
BANQUE
INTERNATIONALE ARABE DE TUNISIE,
Branch:
MAIN
70‑72
AVENUE HABIB BOURGUIBA,
TUNIS
1001,
Tunisia
Relationship
with Bank: is
reported to be good
ARAB
TUNISIAN BANK,
Branch:
MAIN
9 RUE
HEDI NOUIRA,
TUNIS
1001,
Tunisia
Relationship
with Bank: is
reported to be good
Source: The magasine
l'ECONOMISTE MAGHREBIN
Figures are: Estimates
Currency: Tunisian Dinar
Months Sales Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 31/12/2010 61,000,000
12 31/12/2009 64,000,000
Subject's payments reported to
be: REGULAR
Auditors: Bassem Charfeddine
Name/Title: Zohra
Boukhris Assistant to President and managing director
Comment: Subject has
confirmed the general details provided in the report but
has
declined to provide any Financial Data.
Reporter Comment Date: 14/05/2012
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 number/
registered address/ legal form/ VAT number/ Shareholders / principals/ 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 Ms.Zohra Boukhris, she confirmed details
shown in this report and declined to provide financial details and bank account
number stating the grounds of the company’s confidentiality.
Please note that the right company name
is given in this report as it was found in the Tunisian Official Journal and it
was confirmed by Ms.Zohra Boukhris.
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.
The members of the administrative
council are the followings: Ms. Halima Belkhiria, Ghaleb Belkhiria, Aref
Belkhiria, Moez Belkhiria,Skander Belkhiria, Nacef Belkhiria, Adel Belkhiria,
Touraya Belkhiria Ben Henda,Donia Belkhiria Boudagga.
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.
Owner/Shareholders
Comments: Some of the owners / shareholders have an
active participation in the running
of the business.
Age of Business: The
company is a long established family run business.
Date: 01/01/2012
Source: l'ECONOMISTE
MAGHREBAIN
The subject ranks 122 th among the 500
biggest companies in Tunisia according to the annual classification.
Country: Tunisia
Date: 26/04/2012 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: April 17th 2012
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.53.84 |
|
UK Pound |
1 |
Rs.86.72 |
|
Euro |
1 |
Rs.69.17 |
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 |
|
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 |
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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 |
|
<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.