|
Report Date : |
21.06.2013 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
Gasser Bengashir, Tripoli |
|
|
|
|
Country : |
|
|
|
|
|
Year of Establishments: |
1990 |
|
|
|
|
Com. Reg. No.: |
37 |
|
|
|
|
Legal Form : |
Joint Stock Company |
|
|
|
|
Line of Business : |
Manufacturer of carpets and rugs |
|
|
|
|
No. of Employees : |
169 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
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 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
|
Libya |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Libya ECONOMIC OVERVIEW
Libya''s
economy is structured primarily around the nation''s energy sector, which
generates about 95% of export earnings, 80% of GDP, and 99% of government
income. Substantial revenue from the energy sector coupled with a small
population give Libya one of the highest per capita GDPs in Africa, but Tripoli
largely has not used its significant financial resources to develop national
infrastructure or the economy, leaving many citizens poor. In the final five
years of QADHAFI''s rule, Libya made some progress on economic reform as part
of a broader campaign to reintegrate the country into the international fold.
This effort picked up steam after UN sanctions were lifted in September 2003
and after Libya announced in December 2003 that it would abandon programs to
build weapons of mass destruction. The process of lifting US unilateral
sanctions began in the spring of 2004; all sanctions were removed by June 2006,
helping Libya attract greater foreign direct investment, especially in the
energy and banking sectors. Libyan oil and gas licensing rounds drew high
international interest, but new rounds are unlikely to be successful until
Libya establishes a more permanent government and is able to offer more
attractive financial terms on contracts and increase security. Libya faces a
long road ahead in liberalizing its primarily socialist economy, but the
revolution has unleashed previously restrained entrepreneurial activity and
increased the potential for the evolution of a more market-based economy. The
service and construction sectors, which account for roughly 60% of GDP,
expanded over the past five years and could become a larger share of GDP if
Tripoli prioritizes capital spending on development projects once political and
security uncertainty subside. Climatic conditions and poor soils severely limit
agricultural output, and Libya imports about 80% of its food. Libya''s primary
agricultural water source is the Great Manmade River Project
Source : CIA
TRIPOLI CARPET FACTORY
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: 37
Registration Date: 2007
Legal Form: JOINT STOCK CO
Latest Financials: N/A
Nominal Capital: N/A
Issued Capital: 25,000,000 Libyan Dinar
Turnover: N/A
Net Profit: N/A
Net Worth:
Company Name: TRIPOLI
CARPET FACTORY
Company acronym: TCF
Headquarter Address: Gasser
Bengashir,
Tripoli,
Libya
Postal Address: P.O.Box
84121,
Tripoli
Telephone: +218
215634155
+218 215634156
Fax: +218
215632980
E‑Mail: info@tcf.ly
Web Site: www.tcf.ly
Former Names Date
of Change
Original Company Name: Tripoli
Carpet
Company has been in it's
present legal form since: 2007
Company was originally started
on 1990
Current Legal Form: JOINT STOCK
CO
Registration Number: 37
Registration Date: 2007
Year/Date Company Established: 1990
Registration Town: Tripoli
Currency: Libyan
Dinar
Issued Capital: 25,000,000
Shareholders:
Name/Other Information Shares
Held % of
Voting/Non‑Voting
capital
Trans World Trading Co,
Duabi,
United Arab Emirates
Madinat Elsajad Co,
Libya
Name: Mr Noori
Ahmed Tlala
Position within the company: Chairman
Address: Mobile:
218 91 2122672
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Name: Mr Waleed
Khouri
Position within the company: General Manager
Can fluently speak: English
& Arabic
Education: Graduate
University
Name: Mr Waleed
Noori Ahmed Tlala
Position within the company: Financial Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English
& Arabic
Education: Graduate
University
NACE Codes: 1393 Manufacture
of carpets and rugs
Subject is involved in the
manufacture of carpets.
Subject factory has the
following plants:
BCF PLANT
CABLING
HEAT SETTING
LATEX PLANT
TUFTERS
DEPARTMENTS:
PRODUCTION DEPARTMENT
QUALITY CONTROL DEPARTMENT
SAMPLING DEPARTMENT
SALES & MARKETING
DEPARTMENT
WAREHOUSES & SHIPPING
DEPARTMENT
DESIGN & DEVELOPMENT
DEPARTMENT
MAINTENANCE DEPARTMENT
PURCHASE MANAGEMENT
TYPE OF PRODUCTS:
LOOP
Plain Loop Tufted Carpet
Pile Weight 300Grs/m2
26 Attractive Colors
Value Product
Super Loop
Heavy Loop
Naja & Rainbow
GRAPHICS LOOP
Graphics Loop Tufted Carpet
Pile Weight 400 Grs/m2
40 Attractive Graphic Designs
Colorful Product
Different Color Options
Available
SCROLL
Multi‑Pile Height Tufted
Carpet
Pile Weight 450 Grs/m2
20 Attractive Designs
Luxury Range
CUT PILE GRAPHICS
Cut Pile Graphics Tufted
Carpet
Pile Weight 1400Grs/m2
Attractive Designs
Top of The Range
FRISE
Frise Cut Pile Tufted Carpets
Pile Weight 700‑2000
Grs/m2
32 Colors
Luxury at a magnificient Price
MULTI ROLLER
Multi‑Pile Tufted
Carpets
Pile Weight 500 Grs/m2
Luxury range
CUT LOOP
Local Reporters consider the
investigated company to be LARGE in their field of concern.
Employees Company Employs: 169
HQ Premises Operates from: Owned Offices , Factory, Warehouses
Premises Size: 33300
square meters
Location: Main
Road
Other Branches
Subject has numerous other
branches nationally.
Number of Branches: 6
Additional Information: Bengahzi ,
Misurata, Khoms, Sabrata,
Tabruk and Baida.
Imports
Import % and type of product: 100% Raw Materials
Imports From: Germany,
United Kingdom, Saudi Arabia
Importing Terms: Letters of
credit
Additional Information: CAD
Subject's Suppliers: Company Name: Probex Fabric GmbH
Address: Germany
Company Name: Saudi
Company For MFG carpet materials
Address: Saudi
Arabia
Company Name: Ineos
commercial Services
Address: United
Kingdom
Company Name: National
Petrochemical Industrial Co
Address: Saudi
Arabia
Company Name: Synthomer
Deutschland GmbH
Address: Germany
Exports
Export % and type of product: 10%
Exports To: Tunisia,
Egypt, Jordan, Mauritania
Exporting Terms: letters of
credit
Additional Information: CAD, Cash
Trading & Selling
Territory: 90%
Nationally, 10% International
Terms of Sales: open
account
Type of Customer: Agents
Number of accounts: 7
Subsidiaries
Affiliates
Information on Related Companies is not
available/applicable
Gumhouria Bank,
Branch: Gasser Bengashir
Branch
Tripoli,
Libya
Account Number: 29207000570
Payments
Subject's payments reported to be: NO COMPLAINTS
Name/Title: Mr. Noori Tlala Chairman
Comment: Subject has confirmed the general details provided in the report but has declined
to provide any
Financial Data.
Expansion Plans: Subject is going to participate in Hanover Exhibition, and they have plans to
increase their
exports.
Reporter Comment Date: 19/6/2013
Reporter Comment: Registration/ legal and financial information is not publicly available. Thus all 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 Mr. Noori
Ahmed Tlala, Chairman, he provided us with all information shown in report and
declined financial information citing the ground of company's confidentiality.
Tripoli Carpet Factory TCF started as TC, a
Libyan Carpet Retail Company in 1990.
Later in 2007, they founded subject's factory and started to manufacture superior quality carpets with competitive pricing to meet the requirements of the Libyan & Export markets.
Subject's factory was equipped with the
best & most advanced plant & machinery in tufted carpets industry.
Information on subject's plants,
departments and type of products was obtained from subject's website.
Accounts Comments: Full Financial Statements were unavailable
to local analysts so a complete and
accurate picture of the financial strength of the company could not be ascertained.
Our assessment and ratings are therefore
based on non‑financial data.
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 is long established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.70 |
|
UK Pound |
1 |
Rs.92.22 |
|
Euro |
1 |
Rs.79.19 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.