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Report Date : |
26.09.2012 |
IDENTIFICATION DETAILS
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Name : |
GROUPE SPLENDID |
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Registered Office : |
Route de L'Ecole Grand Cheraga, BP N° 36 Alger |
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Country : |
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Year of Establishment : |
2002 |
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Com. Reg. No.: |
02B0020351 Algeria |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Dealers of cosmetics, perfumes, beauty soaps, bleaching and cleaning soaps, and other related products |
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No. of Employees : |
43 employees. |
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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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Algeria |
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 |
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: GROUPE SPLENDID
Requested Name: GROUPE
SPLENDID
Other Names: SPLENDID
EURL
Physical Address: Route de L'Ecole Grand Cheraga,
Alger
Postal Address: BP N° 36
Alger
Country: Algeria
Phone: 213-21-381173/382843/2
Cell: 213-772465790/661514574/550512389
Fax: 213-21-371174/382841`
Email: contact@splendid-dz.com/
splendid74@splendid-dz.com
Website: www.splendid-dz.com
Financial Index as of December 2011 shows subject firm
with a medium risk of credit. However, bank and credit information obtained
reveal a history of prompt payments.
Legal Form: Limited Corporation
Date Incorporated: 2002
Reg. Number: 02B0020351
Algeria
Nominal Capital DZD. 19,000,000
Subscribed Capital DZD. 19,000,000
Subscribed Capital
is Subscribed in the following form:
Position Shares
Mr. Rachid Zergui MD/CEO
Mr. Idriss Zergui Director
Mr. Abdelatif Zergui Director
Mr. Abdallah Zergui Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers of cosmetics,
perfumes, beauty soaps, bleaching and cleaning soaps, and other related
products
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: Cash
(30%) and 25-90 days (70%), invoices.
Main Customers: Local
agencies, stores, outlets etc
Employees: 43
employees.
Vehicles: Several
motor vehicles.
Territory of sales: Algeria
Location: Leased
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 = 78.96 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.)
2010 2011
Sales 420,000,000 462,000,000
Bank Name: Société Générale Algérie
Branch: Algeria
Comments: None
Experiences: Good
None
This information was obtained from outside sources
other than the subject company itself and confirmed the above subject.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.53.53 |
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1 |
Rs.86.82 |
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Euro |
1 |
Rs.69.03 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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 |
-- |
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.