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Report Date : |
22.01.2013 |
IDENTIFICATION DETAILS
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Name : |
MOUALINE NEGOCE SARL |
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Registered Office : |
39 Avenue Lalla Yacout Etage N° 5 Appt D, Casablanca 20050 |
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Country : |
Morocco |
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Date of Incorporation : |
11.11.2011 |
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Com. Reg. No.: |
247863 |
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Legal Form : |
Societe A Responsibilite Limitee |
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Line of Business : |
Wholesale of textiles |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
|
Country Name |
Previous Rating (31.03.2011) |
Current Rating (30.06.2012) |
|
Morocco |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
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 |
MOROCCO - ECONOMIC OVERVIEW
Morocco has capitalized on its proximity to Europe and relatively low labor costs to build a diverse, open, market-oriented economy. In the 1980s Morocco pursued austerity measures and pro-market reforms, overseen by the IMF. Since taking the throne in 1999, King MOHAMMED VI has presided over a stable economy marked by steady growth, low inflation, and generally declining government debt. Industrial development strategies and infrastructure improvements - most visibly illustrated by a new port and free trade zone near Tangier - are improving Morocco's competitiveness. Key sectors of the economy include agriculture, tourism, phosphates, textiles, apparel, and subcomponents. In 2006 Morocco entered into a bilateral Free Trade Agreement with the United States; it remains the only African country to have one. In 2008 Morocco entered into an Advanced Status agreement with the European Union. Despite Morocco's economic progress, the country suffers from high unemployment and poverty. In 2011, high food and fuel prices strained the government's budget and widened the country's current account deficit. Key economic challenges for Morocco include fighting corruption, reducing government spending, reforming the education system and judiciary, addressing socioeconomic disparities, and building more diverse, higher value-added industries.
Source
: CIA
MOUALINE NEGOCE SARL
Definition: INSUFFICIENT
DATA
There
is insufficient information for an adequate credit assessment.
Current
Recommended Credit:
Payment
Record: UNDETERMINED
This
rating is based on available data. In the event of additional information a
possibility for a different rating applies.
Registration
Number: 247863
Registration
Date: 11/11/2011
Legal
Form: SOCIETE
A RESPONSIBILITE LIMITEE
Latest
Financials: N/A
Nominal
Capital: 100,000
Moroccan Dirham
Issued
Capital: N/A
Turnover: N/A
Net
Profit: N/A
Net
Worth: N/A
NB NEW BUSINESS
Subject
is under 18 months old. Monitoring its future progress is recommended.
Company
Name: MOUALINE
NEGOCE SARL
Headquarter
Address: 39
Avenue Lalla Yacout Etage N° 5 Appt D,
Casablanca
20050,
Morocco
Company
was originally started on 11/11/2011
Current
Legal Form: SOCIETE
A RESPONSIBILITE LIMITEE
Registration
Address: 39
Avenue Lalla Yacout Etage N° 5 Appt D,
Casablanca
Registration
Number: 247863
Registration
Date: 11/11/2011
Year/Date
Company Established: 11/11/2011
Registration
Town: Casablanca
Currency: Moroccan
Dirham
Authorized
Capital: 100,000
Paid
Up Capital: 100,000
Number
of Shares: 1,000 Type
of Shares: None Selected
Issued
Shares: 1,000 Value
per share: MDH 100.00 Value
of this type: 100,000.00
Information
on Shareholders is not available/applicable
Name: Mr
Farid Nakir
Position
within the company: Managing
director
Date
of Birth: 15/03/1976
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
Name: Ms
Saida Aoukhayi
Position
within the company: Administrator
Date
of Birth: 01/01/1975
Country
of Birth: Morocco
Nationality: Moroccan
Can
fluently speak: Arabic
& French
NACE
Codes: 4641 Wholesale of textiles
HQ Premises Operates
from: Office
Location: Central Business Area
Subsidiaries
Affiliates
Information
on Related Companies is not available/applicable
Information on Bankers is not available/applicable
Payments
Subject's
payments reported to be: UNDETERMINED
Comment: Latest Financial Statements are not currently available.
We have been unable to contact a company official.
Reporter Comment: Note that the telephone and fax numbers mentioned in the enquiry 0522 449989 / 0522 448932 belong to the company CONSENSUS OMNIUM, which is the forwarding agent of the subject company.
We contacted the said company, they gave us the mobile phone of a person called Mr. Adnani
‑0663 621050‑ who is working for the company, but he refused to cooperate with us.
The company financial statements are not currently available at the Companies Registry.
The above mentioned information was obtained from the Casablanca Commercial Court.
Note that the subject company is registred as : " MOUALINE NEGOCE " not as mentioned in the enquiry.
Local Reputation: Local informants have not adequate information to assess the Subject's local reputation.
General Conclusion: Informants suggest that suppliers monitor this account.
Age of Business: The company is classified as a New Business (under 18 months old), the progress of this company remains to be seen.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.87 |
|
|
1 |
Rs.85.53 |
|
Euro |
1 |
Rs.71.77 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
RATING EXPLANATIONS
|
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 |
|
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 |
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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 |
|
<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.