|
Report Date : |
24.01.2013 |
IDENTIFICATION DETAILS
|
Name : |
TUNISIAN
INDIAN FERTILIZERS SA |
|
|
|
|
Registered Office : |
8 Rue de
Niger Tunis 1002 |
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|
|
|
Country : |
Tunisia |
|
|
|
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Year of Incorporation : |
2006 |
|
|
|
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Com. Reg. No.: |
B
2451662006 |
|
|
|
|
Legal Form : |
Public
Limited Company |
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|
|
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Line of Business : |
Mining of chemical and fertiliser minerals |
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|
|
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No. of Employees : |
350 |
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 (31.03.2011) |
Current Rating (30.06.2012) |
|
Tunisia |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
TUNISIA- ECONOMIC OVERVIEW
Tunisia has a diverse, market-oriented economy, with important agricultural, mining, tourism, and manufacturing sectors but faces an array of challenges. Following an ill-fated experiment with socialist economic policies in the 1960s, Tunisia successfully focused on bolstering exports, foreign investment, and tourism. Key exports now include textiles and apparel, food products, petroleum products, chemicals, and phosphates, with about 80% going to the European Union. Tunisia achieved four decades of 4-5% annual GDP growth. As the presidency wore on, cronyism and corruption under former President Zine el Abidine BEN ALI (1987-2011) stymied economic performance and unemployment rose among the university's graduates. In January 2011 BEN ALI was overthrown, sending Tunisia's economy into a tailspin. The country's newly elected government faces immediate challenges stabilizing the economy. It must reassure businesses and investors, bring budget and current account deficits under control, shore up the country's financial system, bring down high unemployment, and reduce economic disparities between the more developed coastal region and impoverished interior.
Source
: CIA
TUNISIAN INDIAN FERTILIZERS SA
Definition: FAIR
CREDIT QUALITY
Payment Record: NO COMPLAINTS
This rating is based on available
data. In the event of additional information a possibility for a different
rating applies.
Registration Number: B 2451662006
Registration Date: 2006
Legal Form: PUBLIC
LIMITED CO
Latest Financials: N/A
Nominal Capital: 225,000
Tunisian Dinar
Issued Capital: N/A
Turnover: N/A
Net Profit: N/A
Net Worth:
Company Name: TUNISIAN INDIAN FERTILIZERS SA
Company acronym: TIFERT
Headquarter Address: 8 Rue de Niger,
Tunis
1002,
Tunisia
Telephone: +21671
908072
+21671
908073
+21671
908074
+21674
667089
+21674
667091
Fax: +21671
667090
+21671
908107
Company was originally started on
2006
Current Legal Form: PUBLIC LIMITED CO
Additional Information: Deposit Number: D
2413352006
Registration Address: 8 Rue de Niger,
Tunis
1002
Registration Number: B 2451662006
Registration Date: 2006
Year/Date Company Established: 2006
Registration Town: Tunis
Tax Registration Number: 975908 G/A/M000
Currency: Tunisian
Dinar
Authorized Capital: 225,000
Paid Up Capital: 225,000
Shareholders:
Name/Other Information Shares
Held % of Voting/Non‑Voting
capital
COMPAGNIE DES
PHOSPHATES DE 35.00%
(VOTING)
GAFSA,
Tunisia
GROUPE CHIMIQUE
TUNISIEN, 35.00%
(VOTING)
Tunisia
COROMANDEL
FERTILIZERS, 15.00%
(VOTING)
India
GUJARAT STATE
FERTILIZERS AND 15.00%
(VOTING)
CHEMICALS,
India
Name: Mr
Tahar Khouaja
Position within the
company: President and
managing director
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French/English
Name: Mr
Hedi Fakhfakh
Position within the
company: General manager
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French/English
Name: Ms
Houda Majdoubi
Position within the
company: Assistant to General
manager
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French/English
NACE Codes: 0891 Mining
of chemical and fertiliser minerals
2059 Manufacture of other chemical
products n.e.c.
The subject is involved in manufacturing
of phosphoric acid and intermediate products.
These goods are totally sold to the
indian market.
Local Reporters consider the
investigated company to be MEDIUM in their field of concern.
Employees Company
Employs: 350
HQ Premises Operates
from: Rented Office
Location: Central Business Area
Branches Zone
Industrielle Skhira,
Sfax,
Tunisia
Description
of branch: Factory
7
Rue de l'Arabie Saoudite,
Tunis
1002,
Tunisia
Description
of branch: Office
These
premises operate as: The company's head office
Exports
Export
% and type of product: 100%
Exports
To: India
Exporting
Terms: special
agreements
Trading & Selling
Territory: 100%
International
Type
of Customer: indian
industrial companies
Subsidiaries
Affiliates
Information on
Related Companies is not available/applicable
BANQUE DE L'HABITAT,
Branch: Main
Tunis,
Tunisia
Relationship with Bank: is reported to be good
Additional Information: Date Account Opened:2006
Subject's payments reported
to be: NO COMPLAINTS
Name/Title: Houda Majdoubi Assistant to General manager
Comment: Subject has confirmed the general details provided in the
report but has declined to
provide any Financial Data.
Reporter Comment: All legal
forms in Tunisia are obliged by law to be registered with the Registry office
(a dept. of the Court) which is not publicly available.
Some of the companies can also be
found listed in the Tunisian Official Gazette which is
publicly available. Subject was
found registered and information obtained is as follows:
Registered name/ registration
date/ deposit number/ registered
address/ legal form/ VAT
number/ activities/ capital.
According to the Tunisian Commercial
Law, only the listed companies in the Tunisian Stock
Exchange are obliged to publish
their financial accounts. Financial information on other legal
forms can only be obtained from the
Companies directly.
Any other data stated in the report
was obtained directly from the Subject Company and/ or
other publicly available
information. Therefore it should be used as a point of reference as it is
not possible to verify such data
with official sources.
In the interview conducted with Ms.Houda Majdoubi, she confirmed details
shown in this report
and reported that the General
direction has refused to provide the financial information,they
prefer that the applicant contact
them directly to get such information without our
intermediation.
As per Tunisian Commercial law
companies, except the quoted public limited ones, are not
required to file their financials
and are under no obligation to provide such details to third parties,
representatives and or
correspondents representing international and or local clientele.
Local Reputation: The
company being investigated is considered by local reporters to be a Fair /
Normal
Trade Risk.
General Conclusion: Local informants consider granting of
credit to be a fair trade risk.
Age of Business: The company has been established for
under 5 years.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.53.77 |
|
|
1 |
Rs.85.13 |
|
Euro |
1 |
Rs.71.57 |
INFORMATION DETAILS
|
Report
Prepared by : |
PRL |
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.