MIRA INFORM REPORT

 

 

Report Date :

26.10.2012

 

IDENTIFICATION DETAILS

 

Name :

DAMEX DOO

 

 

Registered Office :

MK- 1000 Skopje; St. s. Vizbegovo bb

 

 

Country :

Macedonia

 

 

Financials (as on) :

2011

 

 

Date of Incorporation :

1992

 

 

Legal Form :

Ltd. Company   

 

 

Line of Business :

Manufacture of different kind of bread and other similar products

 

 

No. of Employees :

17

 

 

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

 

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 – June 30th, 2012

 

Country Name

Previous Rating

(31.03.2012)

Current Rating

(30.06.2012)

Macedonia

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

MACEDONIA - ECONOMIC OVERVIEW

 

Macedonia is vulnerable to economic developments in Europe - due to strong banking and trade ties - and dependent on regional integration and progress toward EU membership for continued economic growth. At independence in September 1991, Macedonia was the least developed of the Yugoslav republics, producing a mere 5% of the total federal output of goods and services. The collapse of the Socialist Federal Republic of Yugoslavia ended transfer payments from the central government and eliminated advantages from inclusion in a de facto free trade area. An absence of infrastructure, UN sanctions on the downsized Yugoslavia, and a Greek economic embargo over a dispute about the country's constitutional name and flag hindered economic growth until 1996. Since then, Macedonia has maintained macroeconomic stability with low inflation, but it has so far lagged the region in attracting foreign investment and creating jobs, despite making extensive fiscal and business sector reforms. Official unemployment remains high at 29.1%, but may be overstated based on the existence of an extensive gray market, estimated to be between 20% and 45% of GDP, that is not captured by official statistics. In the wake of the global economic downturn, Macedonia has experienced decreased foreign direct investment, lowered credit availability, and a large trade deficit. However, as a result of conservative fiscal policies and a sound financial system, in 2010 the country credit rating improved slightly to BB+ and was kept at that level in 2011. Macroeconomic stability has been maintained by a prudent monetary policy, which keeps the domestic currency pegged against the euro. As a result, GDP growth was modest, but positive, in 2010 and 2011, and inflation was under control

Source : CIA

Company name

 

DAMEX DOO

 

Address                         

MK- 1000 Skopje; St. s. Vizbegovo bb

 

Tel/Fax:

+389 2 2650 334

+389 2 2650 337

 

damex.mk@gmail.com              

http://www.damex.com.mk/

 

Legal form:        Ltd. Company               

IDN                   4458923                       

Tax No.:            MK4030992198649

 

Establishment:              1992

 

Registration                   with Central Register in Skopje;

 

Shareholders                 Main Shareholder Mr. Mircevski

 

Management:                Director Mr. Mircevski

 

Activity  NACE 5046 manufacture of different kind of bread and other similar products

 

Employees:      

2008-18

2009-19

2010-17

2011-17 (official data)

 

Turnover            Included/

Assets/Liabilities           Included

Bankers:           000530010100102478Ohridska Banka AD

 

Mode of payment                       we have no record about payment delay

 

 

Financial data

 

(official information)

 

 

BALANCE SHEET

2008

2009

2010

2011

 

In MKD

In MKD

In MKD

In MKD

 

1€=61.5 MKD

1€=61.5 MKD

1€=61.5 MKD

1€=61.5 MKD

 

 

 

 

 

Fixed assets :

34.584.760

33.412.435

30.427.100

28.576.801

Current assets :

68.185.233

64.482.408

67.096.175

59.603.942

-stock

12.445.081

12.141.925

10.868.379

10.852.183

Total assets :

102.769.993

97.894.843

97.523.275

88.180.743

 

 

 

 

 

Shareholders funds :

92.948.045

89.600.328

91.315.157

79.203.160

-capital:

19.553.616

19.553.616

19.553.616

19.553.616

Non current liabilities:

0

0

0

0

Current Liabilities:

9.821.948

8.294.515

6.208.118

8.977.583

Liabilities:

102.769.993

97.894.843

97.523.275

88.180.743

 

P& L ACCOUNT

 

 

 

 

 

 

 

 

 

Total revenue:

157.720.786

122.250.871

133.261.688

140.970.110

Total expenses:

145.799.281

116.852.238

130.996.124

135.407.727

Profit

10.558.315

5.102.283

1.714.829

5.388.003

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.53.63

UK Pound

1

Rs.86.17

Euro

1

Rs.69.74

 

 

INFORMATION DETAILS

 

Report Prepared by :

PDT

 

 

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%)

 

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.