MIRA INFORM REPORT

 

 

Report Date :

04.12.2013

 

IDENTIFICATION DETAILS

 

Name :

ORIONAS A.E.B.E.

 

 

Registered Office :

Thessalonikis - Kilkis (12TH KM), 57008 Ionia, Thessaloniki

 

 

Country :

Greece

 

 

Date of Incorporation :

01.07.2013

 

 

Legal Form :

Societe Anonyme                                                 

 

 

Line of Business :

Wholesales Piece Goods and Notions                              

 

 

No. of Employees :

Not Available

 

RATING & COMMENTS

 

MIRA’s Rating :

NB

 

RATING

STATUS

PROPOSED CREDIT LINE

----

NB

New Business

----

 

Status :

New Business

 

 

Payment Behaviour :

Unknown

 

 

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, 2013

 

Country Name

Previous Rating

(31.12.2012)

Current Rating

(31.03.2013)

Greece

B2

B2

 

Risk Category

ECGC Classification

Insignificant

 

A1

Low

 

A2

Moderate

 

B1

High

 

B2

Very High

 

C1

Restricted

 

C2

Off-credit

 

D

 

 

GREECE - ECONOMIC OVERVIEW

 

Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, 6.9% in 2011, and 6.0% in 2012. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to about 8% in 2012. Deteriorating public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies to downgrade Greece's international debt rating in late 2009, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, overhauling the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Euro-Zone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.

 

Source : CIA

 

IDENTIFICATION DETAILS

 

Name                                        ORIONAS A.E.B.E.

ADDRESS:                               THESSALONIKIS - KILKIS (12TH KM)                         

57008 IONIA                                              

THESSALONIKI                                             

GREECE                                                  

TELEPHONE:                            30  2310784656                                           

30  2310784662                                           

TELEFAX:                                 30  2310784920                                           

 

 

FURTHER INFORMATION

 

ANY AMOUNTS HEREAFTER ARE IN EURO UNLESS OTHERWISE STATED

 

 

 

STARTED:                    2013                                                            

 

 

YEAR INC:                    2013                                                            

 

 

LEGAL FORM:              SOCIETE ANONYME                                                  

 

 

GOVT GAZ NO: 03972 / 2013                                                    

 

 

EMPLOYS:                   UNKNOWN                                                         

 

 

SIC:                              5131 5199                                                        

 

 

ACTIVITY:                     WHOLESALES PIECE GOODS AND NOTIONS                              

 

 

PRINCIPALS

 

Nikolaos Iordanis Fostiropoulos

 

             chairman

 

             shareholder

 

 

Moschos Konstantinos Moschopoulos

 

             vice-chairman

 

             shareholder

 

 

Nikolaos Iordanis Fostiropoulos

 

             chief executive

 

            shareholder

 

 

Harikleia Fotios Kavakopoulou

 

             member

 

PAYMENTS REPORTED

 

Informants report that subject's payments are prompt.

 

 

HISTORY

 

   PRINCIPALS ANTECEDENTS                                                    

 

 

 

     NAME: Nikolaos Iordanis Fostiropoulos

 

 

 

     Also a director of ARKTOS S.A..

 

 

 

     Also associated with ARKTOS S.A..

 

 

 

              

              NAME: Nikolaos Iordanis Fostiropoulos

 

 

 

     Also a director of ARKTOS S.A..

 

 

 

     Also associated with ARKTOS S.A..

 

 

 

           

               BACKGROUND

 

 

 

     Business started Jul 1, 2013.

 

 

                         

               LEGAL FORM

 

 

 

     Societe anonyme registered on Jul 1, 2013 for a period ending Dec 31, 2063.

 

 

 

     Government Gazette Number: 03972 / 2013

 

 

 

     Tax Registration Number: 800503270

 

 

SHAREHOLDERS

 

    Nikolaos Fostiropoulos holds 70.00% of the voting capital.

 

   Moschos Moschopoulos holds 30.00% of the voting capital.

 

 

SHARE CAPITAL

 

Not available.

 

 

AFFILIATES

 

      The following are related through principal(s) and/or financial

 

 

 

     interest(s):

 

 

 

     ARKTOS S.A. Societe Anonyme, Ionia, Greece 

 

 

 

     Year started: 2004.

 

 

 

     This concern is related through common shareholders.

 

 

 

     FOSTIROPOULOS NIKOLAOS 'ARKTOS' Sole Proprietorship, Efkarpia, Greece

 

 

               

               This is a dormant concern.

 

 

 

     Year started: 1992.

 

 

 

     This concern is related through common shareholders.

 

 

BANKING DETAILS

 

This information is not available.

 

 

OPERATIONS

 

              Local Activity Code:                 4641                                          

 

            Local Activity Code Type:           STAKOD                                        

 

            Equivalent to:                             NACE 1                                        

 

                

 

                 Wholesales piece goods and notions

 

                 Wholesales nondurable goods

 

                 Wholesale trade of upholstery fabrics and furniture making materials

 

                 (foam) , Details regarding subject's clientele are not available.

 

                 Subject does not export.

 

                

 

                 Subject does not import.

 

                

 

                 EMPLOYS: Unknown including 0 part-time staff.

 

                 The number of employees peaks to 0.

 

                

 

                 Operates from unknown warehouse, at heading address.

 

                

 

                 REGISTERED OFFICE: At heading address.

 

 

FINANCIAL INFORMATION

 

Given the fact that the company is newly established, no financial statements are audited yet.

 

 

GENERAL COMMENTS

 

Please note that the information provided in this report was obtained from official and publicly available sources.

 

Further information was not available.

 

 

 

 

 

 

 

FOREIGN EXCHANGE RATES

 

Currency
Unit

Indian Rupees

US Dollar

1

Rs.62.34

UK Pound

1

Rs.102.06

Euro

1

Rs.84.46

 

 

INFORMATION DETAILS

 

Report Prepared by :

NNA

 

 

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%)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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