|
Report Date : |
12.09.2012 |
IDENTIFICATION DETAILS
|
Name : |
MORANCE SOUDURE ALGERIE |
|
|
|
|
Registered Office : |
Usine
Zac Ben M'Hidi Lot No. 5 |
|
|
|
|
Country : |
Algeria |
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|
|
|
Date of Incorporation : |
2003 |
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|
|
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Com. Reg. No.: |
03B0682523 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
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Line of Business : |
Industrial welding engineers
dealing with plastic and rubber products for graphics, printing and packaging
industry |
|
|
|
|
No. of Employees : |
200 |
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 – March 31st, 2012
|
Country Name |
Previous Rating (31.12.2011) |
Current Rating (31.03.2012) |
|
Algeria |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
ALGERIA - ECONOMIC OVERVIEW
Algeria's economy remains dominated by the state, a legacy of the
country''s socialist post-independence development model. In recent years the
Algerian Government has halted the privatization of state-owned industries and
imposed restrictions on imports and foreign involvement in its economy.
Hydrocarbons have long been the backbone of the economy, accounting for roughly
60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria
has the 10th-largest reserves of natural gas in the world and is the
sixth-largest gas exporter. It ranks 16th in oil reserves. Thanks to strong
hydrocarbon revenues, Algeria has a cushion of $173 billion in foreign currency
reserves and a large hydrocarbon stabilization fund. In addition, Algeria''s
external debt is extremely low at about 2% of GDP. Algeria has struggled to
develop industries outside of hydrocarbons in part because of high costs and an
inert state bureaucracy. The government''s efforts to diversify the economy by
attracting foreign and domestic investment outside the energy sector have done
little to reduce high youth unemployment rates or to address housing shortages.
A wave of economic protests in February and March 2011 prompted the Algerian
Government to offer more than $23 billion in public grants and retroactive
salary and benefit increases. Public spending has increased by 27% annually
during the past five years. Long-term economic challenges include
diversification from hydrocarbons, relaxing state control of the economy, and
providing adequate jobs for younger Algerians.
Source : CIA
|
Registered Name: |
MORANCE SOUDURE
ALGERIE |
|
Requested Name: |
MORANCE SOUDURE ALGERIE |
|
Other Names: |
None |
|
|
|
|
Physical Address: |
Usine
Zac Ben M'Hidi Lot No. 5 |
|
Postal Address: |
BP
B19 |
|
|
El
Tarf-Algeria, |
|
Country: |
Democratic
People’s Republic of Algeria |
|
Phone: |
213-38693038/30890628/9 |
|
Fax: |
213-38693037 |
|
Email: |
info@spa-msa.com/dg@spa-msa.com/ infographie@spa-msa.com |
|
Website: |
www.morancesoudure-dz.com |
|
|
|
|
Legal Form: |
Limited Corporation |
|
|
Date Incorporated: |
2003 |
|
|
Reg. Number: |
03B0682523 |
|
|
Nominal Capital |
DZD.
30,000,000 |
|
|
Subscribed Capital |
DZD.
30,000,000 |
|
|
Subscribed Capital is Subscribed in the following form: |
||
|
|
Position |
Shares |
|
Mr. Bara Abdelnacer Rezak |
Director |
|
|
|
|
|
|
None |
Parent company. |
|
None |
Subsidiary company. |
|
None |
Affiliated company. |
|
None |
Shareholder of subject
firm. |
|
None |
Branches of the firm |
|
|
|
|
Registered to operate as
industrial welding engineers dealing with plastic and rubber products for graphics,
printing and packaging industry |
|
|
Imports: |
Europe |
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Exports: |
None |
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Trademarks: |
None |
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|
|
|
|
Main Customers: |
Industries, firms and organizations |
|
Employees: |
200 employees. |
|
Vehicles: |
Several motor vehicles. |
|
Territory of sales: |
Algeria |
|
Location: |
Owned premises, 10,000 square feet, |
|
_______________________________________________________________________ |
|
|
Auditors: |
Information not
available. |
|
Insurance Brokers: |
Information not
available. |
|
|
|
|
_______________________________________________________________________ |
|
|
Currency Reported: |
Algerian Dinar (DZD.) |
|
|
Approx. Ex. Rate: |
1 US Dollar = 79.70
Algerian Dinar |
|
|
Fiscal Year End: |
December 31, 2011 |
|
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2011 was of 13%. |
|
|
|
||
|
Financial Information not
Submitted |
|
|
|
|
|
|
|
|
|
|
|
Profit and Loss
(expressed in DZD.) |
||
|
|
|
2011 |
|
Sales |
|
420,000,000 |
|
_______________________________________________________________________ |
||
|
Bank Name: |
Société
Générale Algérie |
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Branch: |
Algeria |
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Comments: |
None |
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|
|
|
_______________________________________________________________________ |
|
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Experiences: |
Good |
|
|
|
|
|
|
__________ |
||
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NOTARIAL BONDS |
None |
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|
|
||
|
COMMENTS / ADDITIONAL INFORMATION |
|
|
|
This information was
obtained from outside sources other than the subject company itself and
confirmed the above subject. |
||
|
|
|
|
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.55.52 |
|
|
1 |
Rs.88.84 |
|
Euro |
1 |
Rs.70.85 |
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%)
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.