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Report Date : |
24.06.2013 |
IDENTIFICATION DETAILS
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Name : |
REMEDE PHARMA SARL |
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Registered Office : |
Hai Djillali Villa N 44 Staoulei 16000 Alger |
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Country : |
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Date of Incorporation : |
01.011.2004 |
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Com. Reg. No.: |
04B0966257 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Importers and exporters of pharmaceuticals, Medical Products |
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No. of Employees : |
30 employees. |
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 – March 31st, 2013
|
Country Name |
Previous Rating (31.12.2012) |
Current Rating (31.03.2013) |
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Algeria |
A2 |
A2 |
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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. Strong revenues from
hydrocarbon exports have brought Algeria relative macroeconomic stability, with
foreign currency reserves approaching $200 billion and a large budget
stabilization fund available for tapping. In addition, Algeria''s external debt
is extremely low at about 2% of GDP. However, Algeria has struggled to develop
non-hydrocarbon industries because of heavy regulation and an emphasis on
state-driven growth. The government''s efforts 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, moves which continue to weigh on public finances. Long-term economic
challenges include diversifying the economy away from its reliance on
hydrocarbon exports, bolstering the private sector, attracting foreign
investment, and providing adequate jobs for younger Algerians.
Source
: CIA
Registered Name: REMEDE PHARMA SARL
Requested Name: REMEDE
PHARMA SARL
Other Names: REMEDE
PHARMA
Physical Address: Hai Djillali Villa N 44 Staoulei
16000 Alger
Postal Address: Residence chabani bloc g1 val
d'hydra, El biar, Algeria
Algiers
Country: Algeria
Phone: +213
21 603971/ 603972/ 772285/9
Fax: +213
21 609373
Email: remed_pharma@hotmail.com
Website: www.remedepharma-dz.com
Financial Index as of December 2012 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments. We recommend Credit of USD 100,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 01/11/2004
Reg. Number: 04B0966257
Algeria
Nominal Capital DZD. 90,000,000
Subscribed Capital DZD. 90,000,000
Subscribed Capital is Subscribed in the
following form:
Position Shares
Mr Fahima
Bousteila Director
Mr Mohamed Lamine
Bousteila Director
Mr Mohamed Ghezali Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
8 rue captaine
azouz hussein dey, el biar, Algiers Branches of the firm
Registered to operate as importers and exporters of pharmaceuticals,
Medical Products
Imports: Europe,
Middle East
Exports: Africa
Trademarks: None
Terms of sale: Cash
(40%) and 30 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Algeria
Location: Rented
premises, 5,500 square feet,
Auditors: Information not available.
Insurance Brokers: Information not available.
Currency Reported: Algerian Dinar (DZD.)
Approx. Ex. Rate: 1 US Dollar = 79 Algerian Dinar
Fiscal Year End: December
31, 2012
Inflation:
According
to information given by independent sources, the inflation at December
31st, 2012 was of 13%.
Financial Information not Submitted
Profit and Loss (expressed in DZD.)
2012
Sales 452,000,000
Bank Name: BNP PARIBAS
Branch: Algeirs
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.59.35 |
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|
1 |
Rs.92.11 |
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Euro |
1 |
Rs.78.59 |
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.