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Report Date : |
10.11.2012 |
IDENTIFICATION DETAILS
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Name : |
GULF MARINE COMPANY |
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Registered Office : |
Nouveau port de peche, bloc 13, lot n°5, Sfax 3065 |
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Country : |
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Year of Establishment : |
2008 |
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Com. Reg. No.: |
B 0816902008 |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesaler of other food,
including fish, crustaceans and molluscs |
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No. of Employees : |
12 employees |
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 – June 30th, 2012
|
Country Name |
Previous Rating (31.03.2012) |
Current Rating (30.06.2012) |
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Tunisia |
A2 |
A2 |
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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 |
Tunisia - ECONOMIC OVERVIEW
Tunisia has a diverse, market-oriented economy, with important
agricultural, mining, tourism, and manufacturing sectors but faces an array of
challenges. Following an ill-fated experiment with socialist economic policies
in the 1960s, Tunisia successfully focused on bolstering exports, foreign
investment, and tourism. Key exports now include textiles and apparel, food
products, petroleum products, chemicals, and phosphates, with about 80% going
to the European Union. Tunisia achieved four decades of 4-5% annual GDP growth.
As the presidency wore on, cronyism and corruption under former President Zine
el Abidine BEN ALI (1987-2011) stymied economic performance and unemployment
rose among the university's graduates. In January 2011 BEN ALI was overthrown,
sending Tunisia's economy into a tailspin. The country's newly elected government
faces immediate challenges stabilizing the economy. It must reassure businesses
and investors, bring budget and current account deficits under control, shore
up the country's financial system, bring down high unemployment, and reduce
economic disparities between the more developed coastal region and impoverished
interior.
|
Source : CIA |
GULF MARINE COMPANY
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
0816902008
Registration
Date: 2008
Legal
Form: PRIVATE
LIMITED CO
Latest
Financials: N/A
Nominal Capital: 150,000
Tunisian Dinar
Issued Capital: N/A
Turnover: 1,400,000
Tunisian Dinar
Net Profit: N/A
Net Worth:
Company Name: GULF
MARINE CO GMC
Country: TU
Street Name: NOUVEAU
PORT BLCK N‑13 LOT 5 SFAX 3065
City Code:
Comments: ALWAYS INLUDE LINE
OF BUSINESS ALONGWITH NAMES
OF PRODUCTS MANUFACTURED / TRADED BY THE SUBJ
AS THIS IS RQUIRED BY OUR CLIENT
PLS PROVIDE MAX CR LIMIT
LATEST F/S
Company Name: GULF
MARINE COMPANY
Company acronym: GMC
Headquarter Address: Nouveau port
de peche, bloc 13, lot n°5,
Sfax 3065,
Tunisia
Telephone: +21674
222140
Fax: +21674
223836
+21674 497141
Web Site: gib@tunet.tn
Company was originally started on 2008
Current Legal Form: PRIVATE
LIMITED CO
Additional Information: Customs
ID:833252 F
Registration Address: Nouveau port de
peche,bloc 13, lot n°5,
Sfax 3065
Registration Number: B 0816902008
Registration Date: 2008
Year/Date Company Established: 2008
Registration Town: Sfax
Tax Registration Number: 1042193 P/N/M00
Currency: Tunisian
Dinar
Authorized Capital: 150,000
Paid Up Capital: 150,000
Shareholders:
Name/Other Information Shares
Held % of
Voting/Non‑Voting
capital
Mohamed Belguith, 40.00%
(VOTING)
Tunisia
Skander Belguith, 40.00% (VOTING)
Tunisia
Sami Belguith, 20.00% (VOTING)
Tunisia
Name: Mr Mohamed
Belguith
Position within the company: General manager
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French/English
NACE Codes: 4638 Wholesale
of other food, including fish, crustaceans and molluscs
The subject is involved in wholesaling of fish, sea food and frozen sea food such as: prawns, Karikadi, lobsters, Scampi Cuttle fish, Octopus, Whelk, crabs, cephalopods, pomfret, tuna, Yellow fish tuna.
The subject is also involved in selling of materials and articles of fishing.
These goods are imported then sold to the local and foreign clients.
Local Reporters consider the investigated company to be MEDIUM in their field of concern.
Employees Company
Employs: 12
HQ Premises Operates
from: Rented Office , Warehouse
Location: Suburban
Business Area
Imports
Import % and type of product: 100% Finished Goods
Imports From: India,
China
Importing Terms: Cash
against documents
Subject's Suppliers: Company Name: Deepmala marine export
Address: India
Company Name: keshodwala
Address: India
Company Name: Castlerock
fisheries
Address: India
Company Name: Regent
plus
Address: India
Exports
Export % and type of product: 10%
Exports To: Libya
Exporting Terms: bank
transfer
Trading & Selling
Territory: 90%
Nationally, 10% International
Type of Customer: Wholesalers,
Retailers
Number of accounts:
5
Subsidiaries
Affiliates
LA CORDERIE
Avenue Taieb Mhiri,
Sfax,
Tunisia
Start Date: 1977
Operates as: Sale of fishing articles
Related through: common shareholders
GULF INTERNATIONAL
BUSINESS
Sfax,
Tunisia
Start Date: 1996
Operates as: An International business.
Related through: common shareholders
BANQUE NATIONALE AGRICOLE
Sfax,
Tunisia
Additional Information: Date
Account Opened:2008
BANQUE NATIONALE AGRICOLE
Sfax,
Tunisia
Additional Information: Date
Account Opened:2009
TUNISIAN QUATARI BANK
Sfax,
Tunisia
Additional Information: Date
Account Opened:2012
Source: Mohamed
Belguith General manager
Figures
are: Estimates
Currency: Tunisian
Dinar
Months Sales Figures Sales Gross
Profit/Loss Net
Profit/Loss
12 31/12/2011 1,400,000
12 31/12/2010 1,700,000
12 31/12/2009 1,250,000
Subject's payments reported to
be: NO COMPLAINTS
Name/Title: Mohamed
Belguith General manager
Comment: Subject has
confirmed the general details provided in the report but has declined to
provide any Financial Data.
Reporter Comment Date: 07/11/2012
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 date/ deposit number/ registered address/ legal form/ activities.
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.Mohamed Belguith, he confirmed details shown in this
report, and declined to provide bank account number stating the grounds of the company’s
confidentiality
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.
Owner/Shareholders Comments: Some of the owners / shareholders have an active participation in the ]
` running of the business.
Financial Results Trend: Financial Information indicates that the business activities of the
company are even / similar in strength to corresponding years.
Age of Business: The company has been established for under 5 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.34 |
|
UK Pound |
1 |
Rs.86.97 |
|
Euro |
1 |
Rs.69.43 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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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.