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Report Date : |
30.11.2012 |
IDENTIFICATION DETAILS
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Name : |
DRACOUDIS ALUMINIUM CO. LIMITED |
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Registered Office : |
145 Fragklinou Rousvelt, Limassol, 3045 |
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Country : |
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Date of Incorporation : |
16.03.1972 |
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Reg. No.: |
C4215 |
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Legal Form : |
Limited Company |
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Line of Business : |
Import and Trade on a wholesale and retail sale basis of construction
materials and aluminium gates, window frames. |
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No. of Employees : |
Not Available |
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
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Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
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B1 |
B1 |
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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 |
The area of the
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Source : CIA |
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Registered Name |
DRACOUDIS ALUMINIUM CO.
LIMITED |
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English Name |
DRACOUDIS ALUMINIUM CO.
LIMITED |
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Trade Style: |
DA DRACOUDIS |
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Registered Address |
145 Fragklinou Rousvelt, Limassol,
3045, Cyprus |
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Headquarters: |
145 Fragklinou Rousvelt,
Limassol, 3045, PoBox 55522, Cyprus |
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Telephone |
+35725575927 |
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Fax |
+35725571607 |
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E-mail |
dracoudi@spidernet.com.cy |
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Web Site |
Non Retrievable |
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Legal Type |
Limited Company |
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Registration No |
C4215 |
Registration Date |
16/03/1972 |
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Start Date |
16/03/1972 |
Years of Operation: |
40 |
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Last annual report |
31/12/2003 |
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Last return |
27/06/2012 |
Tax Reg No: |
CY10004215R |
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CINFO ID: |
CYC11566229 |
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Employees |
November
2012 |
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Company |
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Total
Number |
Not Available |
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Additional
Info: |
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Legal Advisor: MAKIS PAPAS, 14, Themidos, Famagusta Correspondence: MOUAIMIS
& MOUAIMIS, P.O. Box: 56854, 3310, Limassol, Tel.: 25362233 |
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Assessment: |
Above Average Risk |
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Payment Habits: |
No complaints |
A check against all
available information sources of Mecos Infocredit revealed that no late payment
incidents against Subject Company exist. |
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Commercial morality |
Satisfactory |
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Financial strength |
Unable to comment |
Given the fact that no
recent detailed financial statements were released to us, we feel unable to express
a safe and reliable opinion on their creditability and Financial Strength. |
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Line of Business
The
company in question is involved with the import and trade on a wholesale and retail
sale basis of construction materials and aluminium gates, window frames. The
company provides installation of aluminium gates and also acts as the
distributor of their products.
Business Activities
Trade of construction materials, aluminium gates, window frames
Industry Classifications - NAICS
» All Other Miscellaneous Fabricated Metal Product Manufacturing (NAICS #
332999)
» Other Construction Material Merchant Wholesalers (NAICS # 42339)
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Export to |
Percentage |
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Comments |
Non Retrievable |
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Import from |
Percentage |
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Comments |
Non Retrievable |
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Premises |
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Type |
Hedquarters |
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Address: |
145 Fragklinou Rousvelt,
Limassol, 3045, PoBox 55522, Cyprus |
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Headquarters comprise of |
Offices, Factory |
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Headquarters are |
Rented |
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Banks |
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BANK OF CYPRUS PUBLIC COMPANY LIMITED |
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51 Stasinou, Makedonitissa,
2415, Strovolos, Nicosia, Cyprus |
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ETHNIKI TRAPEZA TIS ELLADOS (KYPROU) LIMITED |
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15 Archiepiskopou Makariou
C' Avenue, Nicosia, 1065, Cyprus |
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Total Number |
Total Amount (EUR) |
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Mortgage |
3 |
131,562.31 |
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TOTAL CHARGES |
3 |
131,562.31 |
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No negative data
MAIN SOURCES OF
INFORMATION
i. Visited Official Companies’ Registry
ii. Interview
with Company / Correspondence
iii. Desk
Research
iv. Search
through Internet Subscription Databases (Business Information)
v. Specialized
Media Search Global & Local
vi. Search
through internet Social Networks
vii. Infocredit
Negative Record Database
viii.
Relationship/Directorship Search through Infocredit Database
ix. Search in
VAT Registry
We contacted the
company in question and talked a company official who informed us that there
was no one available to provide us with any information regarding the Subject
and asked for a written questionnaire instead. A written questionnaire was
sent; however there was no response up to now.
The information
provided was obtained from the Official Companies Registrar, through desk
research and from a previous record.
Please note that
no detailed Financial Information became available to us; neither it was released
by the subject at present. Furthermore, no Published Final Accounts were filled
in the company's file kept with the local official companies' registry, as the
law provides for all companies.
A check against
our revealed that no negative payment incidents against Subject Company, such
as unpaid invoices, utility bills, bankruptcies etc exist.
COUNTRY DEVELOPMENTS:
The European Banking
Authority’s final assessment of the capital exercise covering 71 banks showed
that the shortfall for the two Cypriot banks, Bank of Cyprus and Cyprus Popular
Bank reached the amount of €1.885 million.
The shortfall for Bank of
Cyprus stands at €730 million, whereas the corresponding figure for Cyprus
Popular Bank reached the amount of €1.125 million. The shortfall will be
covered by the Euro area member-states through the EFSF/ESM, as part of Cyprus’
application for financial support.
In October 2012 the
unemployment in Cyprus has grown at the third fastest rate in the EU, behind
Greece and Spain, reaching almost 11%, while the percentage of the population
at risk of falling below the poverty line is also on the increase.
The flow of deposits in the
domestic banking system recorded a slight increase during August, according to
data released by the Central Bank of Cyprus. The Central Bank announced on
Thursday that deposits in domestic financial institutions recorded an increase
of 0.5% during August on an annual basis or 837.9 million euro, reaching 70.66
billion euro compared to 69.82 billion in August of 2011.
Based on the quarterly review
carried out by the European Commission for economic and employment, the outlook
for Cyprus remains bleak. It reported that unemployment in Cyprus continues to
increase reaching 10.9% in July 2012 (10.4% for women and 11.4% men).
29 September 2012: Russia
said on Friday it would only grant a bailout loan to Cyprus as part of a
coordinated rescue with the European Union for the Mediterranean island state
that is seeking a total of 20 billion euros ($25.7 billion) in aid.
Regarding the gas deals
Minister of Commerce, Industry and Tourism Neoklis Sylikiotis has said that the
government is going to sign a series of agreements with Houston-based “Noble”
as regards the supply of natural gas to Cyprus and the construction of a terminal
for liquefied gas in Cyprus for export purposes.
He also recalled that the
Cabinet has taken a decision for the beginning of negotiations in order to
reach an interim solution for the supply of natural gas for the local market
before 2017.
The trade deficit decreased
by 15,1% or 325 million in the first half of 2012, compared to the same period
of 2011. According to the monthly report “Intra-Extra E.U Trade Statistics
(Summarised Data)” for June 2012, trade deficit for the period January-June 2012
was 2.151 billion compared to 2.476 billion in the corresponding period of
2011. Cyprus which concluded in 2011 a 2.5 billion EUR with the Russian
Federation, has requested a new loan agreement. Excluded from the international
capital markets as of May 2011, Cyprus on June 25 applied to the EFSF for
financial assistance to bailout its two main banks, Bank of Cyprus and Cyprus
Popular Bank, which have been severely hit by the Greek sovereign debt haircut
and to cover its refinancing need. (End of Country Developments).
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Interview Date: |
28/11/2012 |
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Name: |
Not Available |
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Quality: |
company |
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Title: |
official |
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Couldn't supply |
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Any info |
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A questionnaire was sent - no reply received |
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FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.55.20 |
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1 |
Rs.88.37 |
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Euro |
1 |
Rs.71.47 |
INFORMATION DETAILS
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Report
Prepared by : |
SDA |
RATING EXPLANATIONS
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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.