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Report Date : |
30.03.2013 |
IDENTIFICATION DETAILS
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Name : |
KOUVALAKIDIS, J., & SON O.E. |
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Registered Office : |
Komotinis - Alexandroupolis Rd (3rd Km), 69100 Komotini, Rodopi |
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Country : |
Greece |
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Date of Incorporation : |
15.03.1980 |
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Legal Form : |
General partnership |
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Line of Business : |
Wholesales fresh fruits and vegetables |
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No. of Employees : |
05 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but Correct |
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Litigation : |
--- |
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) |
|
Greece |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
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High |
B2 |
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Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
D |
greece - ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector accounting for about 40% of GDP and with per capita GDP about two-thirds that of the leading euro-zone economies. Tourism provides 15% of GDP. Immigrants make up nearly one-fifth of the work force, mainly in agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of annual GDP. The Greek economy grew by nearly 4% per year between 2003 and 2007, due partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. But the economy went into recession in 2009 as a result of the world financial crisis, tightening credit conditions, and Athens' failure to address a growing budget deficit. The economy contracted by 2.3% in 2009, 3.5% in 2010, and 6.0% in 2011. Greece violated the EU's Growth and Stability Pact budget deficit criterion of no more than 3% of GDP from 2001 to 2006, but finally met that criterion in 2007-08, before exceeding it again in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the deficit to 11% of GDP in 2010 and about 9% in 2011. Eroding public finances, inaccurate and misreported statistics, and consistent underperformance on reforms prompted major credit rating agencies in late 2009 to downgrade Greece's international debt rating, and has led the country into a financial crisis. Under intense pressure from the EU and international market participants, the government adopted a medium-term austerity program that includes cutting government spending, decreasing tax evasion, reworking the health-care and pension systems, and reforming the labor and product markets. Athens, however, faces long-term challenges to push through unpopular reforms in the face of widespread unrest from the country's powerful labor unions and the general public. In April 2010 a leading credit agency assigned Greek debt its lowest possible credit rating; in May 2010, the International Monetary Fund and Eurozone governments provided Greece emergency short- and medium-term loans worth $147 billion so that the country could make debt repayments to creditors. In exchange for the largest bailout ever assembled, the government announced combined spending cuts and tax increases totaling $40 billion over three years, on top of the tough austerity measures already taken. Greece, however, struggled to meet 2010 targets set by the EU and the IMF, especially after Eurostat - the EU's statistical office - revised upward Greece's deficit and debt numbers for 2009 and 2010. European leaders and the IMF agreed in October 2011 to provide Athens a second bailout package of $169 billion. The second deal however, calls for Greece's creditors to write down a significant portion of their Greek government bond holdings. In exchange for the second loan Greece has promised to introduce an additional $7.8 billion in austerity measures during 2013-15. However, these massive austerity cuts are lengthening Greece's economic recession and depressing tax revenues. Greece's lenders are calling on Athens to step up efforts to increase tax collection, privatize public enterprises, and rein in health spending, and are planning to give Greece more time to shore up its economy and finances. Many investors doubt that Greece can sustain fiscal efforts in the face of a bleak economic outlook, public discontent, and political instability.
|
Source
: CIA |
KOUVALAKIDIS, J., & SON O.E. (Correct)
ADDRESS: KOMOTINIS - ALEXANDROUPOLIS RD (3RD
KM)
69100 KOMOTINI
RODOPI
GREECE
TELEPHONE: 30 2531027279
30 2531027078
TELEFAX: 30 2531032447
E-MAIL ADDRESS: sodeia@otenet.gr
George John Kouvalakidis
Administrator
Partner
EMPLOYS: 5 as at Apr 23, 2012 including 0 part-time staff.
The number of employees varies according to needs.
The number of employees peaks to 5.
Alpha Bank A.E., Komotini Branch branch. 51 Eirinis Sq, Komotini 69100,
Greece.
Telephone: 30 2531037610
National Bank of Greece S.A., Komotini Branch branch., Thisseos
&Orfeos, Komotini 69100, Greece.
Telephone: 30 2531054906
Emporiki Bank, Komotini Branch branch. 5 Parassiou, Komotini 69100,
Greece.
Telephone: 30 2531022541
EFG EUROBANK ERGASIAS S.A., Komotini Branch (Ex Ergobank B branch., 19
Vas. Georgiou, Komotini 69100, Greece.
Telephone: 30 2531028830
On Mar 27, 2013
Sales for the 12 month period ending Dec 31, 2012 were 7,000,000.
Sales for the 12 month period ending Dec 31, 2011 were 6,500,000.
Sales for the 12 month period ending Dec 31, 2010 were 8,430,000.
STARTED: 1980
YEAR INC: 1980
PRINCIPALS ANTECEDENTS
LEGAL FORM
General partnership registered on Mar 15, 1980 for a period ending Dec
31 9999.
Chamber of Commerce Number: 1788
Tax Registration Number: 091694743
Subject continues the business activities of the sole proprietorship
KOUVALAKIDIS JOHN which pre-existed since 1951.
George Kouvalakidis holds 70.00%
of the voting capital. Also associated with AXIA S.A..
Afroditi Kouvalakidi holds 15.00%
of the voting capital.
Despoina Kouvalakidi holds
15.00% of the voting capital.
Local Activity Code: 4631
Local Activity Code Type: STAKOD
Equivalent to: NACE 1
Wholesales fresh fruits and vegetables
Manufactures canned fruits and specialties
Imports, processing and wholesale trade of nuts, grains, legumes and
dried fruit
Normal importing terms are cash against documents
Exports 5% to Bulgaria, Cyprus, Turkey
Normal exporting terms are cash against documents
Subject has 1 branches/divisions
27 G. Zarri, 69100, Komotini, Greece.
Operates from owned factory, covering approximately 3,000 square metres
at heading address.
The site covers approximately 8,500 square metres.
REGISTERED OFFICE: At heading address.
The following are related through principal(s) and/or financial
interest(s):
AXIA S.A. Societe Anonyme, Komotini, Greece
This is a dormant concern.
Year started: 1999.
This concern is related through common shareholders.
On Mar 27, 2013
local informants stated that:
Subject is long established family run economic unit, which operates mainly as a trading unit, as said activity contributes 60% to its total turnover, while the manufacturing activity covers the remaining 40%.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.39 |
|
UK Pound |
1 |
Rs.82.32 |
|
Euro |
1 |
Rs.69.54 |
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 |
|
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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.