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Report Date : |
28.03.2013 |
IDENTIFICATION DETAILS
|
Name : |
ASSAWAED
ASSAMRAA FOR IMPORTING BUILDING MATERIALS |
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|
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Formerly Known As : |
TASHARUKIAT
ASSAWAED |
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|
|
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Registered Office : |
Industrial Zone, Near by
Alnoury Mosque, Misurata |
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|
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Country : |
Libya |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
08804 |
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Legal Form : |
Limited Liability Company |
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|
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Line of Business : |
Subject is involved in
the import and selling of building materials. |
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No. of Employees : |
30 |
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 |
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Payment Behaviour : |
Usually Correct |
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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 (31.03.2012) |
Current Rating (30.06.2012) |
|
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 revenue. Substantial income 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 increased security and more attractive financial terms on contracts.
Libya's production of crude oil, at roughly 500,000 bbl/day, is far below the
2012 target of 3 million bbl/day set by the The National Oil Corporation (NOC).
Libya faces a long road ahead in liberalizing its primarily socialist economy,
but the revolution probably 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 20% of
GDP, expanded over the past five years and could expand further if Tripoli
prioritizes capital spending on development projects once political uncertainty
subsides. Climatic conditions and poor soils severely limit agricultural
output, and Libya imports about 80% of its food. Libya's primary agricultural
water source remains the Great Manmade River Project.
|
Source
: CIA |
ASSAWAED ASSAMRAA FOR
IMPORTING BUILDING MATERIALS
RATING BRIEFING
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 BRIEFING
Registration Number: 08804
Registration Date: 3/12/2008
Legal Form: LIMITED LIABILITY COMPANY
Latest Financials: N/A
FINANCIAL BRIEFING
Nominal Capital: N/A
Issued Capital: 20,000,000 Libyan Dinar
Turnover: 75,000,000 Libyan Dinar
Net Profit: N/A
Net Worth: N/A
Investigation Number: 182944
Company Name: ASSAWAED ASSAMRAA COMPANY
Country: LI
Street Name:
City Code: MISURATA
Phone Number: 00218912129940
Fax Number: 00218512712930
Comments: BANKERS: GUMHOURIA BANK,
AHMED AL‑SHIREED
BRANCH, POB 102, MISURATA‑LIBYA
NOTES: EMAIL: assawaed2006@yahoo.com
web: www.assawaed.com
Company Name: Assawaed Assamraa For Importing
Building Materials
Also trades as: Assawaed Assamraa Company
Headquarter Address: Industrial Zone, Near by Alnoury Mosque,
Misurata,
Libya
Telephone: +218 512720397
+218 912129940
Fax: +218 512712930
E‑Mail: assawaed2006@yahoo.com
Web Site: www.assawaed.com
Former Names Date of Change
Original Company Name:
Tasharukiat Assawaed
Company was originally
started on 1997
Current Legal Form: LIMITED LIABILITY
COMPANY
Registration Number: 08804
Registration Date: 3/12/2008
Year/Date Company
Established: 1997
Registration Town: Misurata
Currency: Libyan Dinar
Issued Capital: 20,000,000
Shareholders:
Name/Other Information Shares Held %
of Voting/Non‑Voting capital
Ahmed Eltaher Khader
(Principal Shareholder), Libya
Name: Mr
Ahmed Eltaher Khader
Position within the
company: General Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
NACE Codes: 4613 Agents
involved in the sale of timber and building materials
Subject is involved in the
import and selling of building materials.
Business is based on
imports 100%
The company doesn't expot
any goods
Local Reporters consider
the investigated company to be LARGE in their field of concern.
Employees Company Employs: 30
HQ Premises Operates from: Owned
Offices , Warehouses
Premises Size: 40000 square meters
Other Description: Management and Warehouses
Location: Industrial
Area
Branches East Entrance ‑ Tajura, Tripoli, Liberia
Description of branch: Office
Imports
Import % and type of
product: 100% Finished Goods
Imports From: China, Canada,
Turkey, Italy, Austria, Gabon, USA, Finland, India
Additional Information: Deferred LC
Exports
Export % and type of
product: Subject does not export
Territory: 100% Nationally
Terms of Sales: cash
Type of Customer: wholesalers and distributors
Number of accounts: 100
Subsidiaries Affiliates
Information on Related
Companies is not available/applicable
Jumhouria Bank,
Branch: Ahmad Al Sharif
Branch
Misurata,
Libya
Account Number: 207‑3506
Additional
Information: Tel/Fax: 218 51 2613920
Financial Interview Date: 26/3/2013
Source: Mr. Ahmed
Khader General manager
Currency: Libyan Dinar
Months Sales Figures Sales Gross
Profit/Loss Net Profit/Loss
12 31/12/2013 90,000,000
(Projection)
12 31/12/2012
75,000,000
12 31/12/2010 100,000,000
Date Obtained: 26/3/2013
Date of Figures: 31/12/2013
Currency: Libyan Dinar
Issued Capital 20,000,000
Total Current Liabilities 15,000,000
Fixed Assets 8,000,000
Subject's payments reported
to be: NO COMPLAINTS
Date: 26/3/2013
Name/Title: Mr. Ahmed Khader
General Manager
Comment: Subject has
confirmed the general details shown in the report.
Subject has offered
brief financial data only and refused to provide full financial information.
Reporter Comment Date: 26/3/2013
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. Ahmed Khader, General Manager, he provided us with all
information shown in report and declined full financial information citing the
ground of company's confidentiality.
According to Mr.
Ahmed, subject’s sales turnover in 2011 is not available due to the Libyan
crises in 2011.
The correct address
of subject's bank is as shown in report.
Accounts Comments: Only
Brief Financial data has been obtained by the subject, our assessment and
ratings are therefore based on the reliability of the data obtained.
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.
Owner/Shareholders
Comments: All or most of the owners / shareholders have an active participation
in the
running of the business.
Financial Results Trend: Financial Information indicates that the business activities
of the company are even / similar in strength to corresponding years.
Age of Business: The company is long
established in the local market.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.27 |
|
|
1 |
Rs.82.49 |
|
Euro |
1 |
Rs.69.88 |
INFORMATION DETAILS
|
Report Prepared
by : |
SDA |
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.