MIRA INFORM REPORT
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Report Date : |
20.05.2013 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE COMMERCIALE DES PRODUITS CHIMIQUES SCPC |
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Registered Office : |
Route de Sidi
Mansour km 1.5, Sfax 3000, |
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Country : |
Tunisia |
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Date of Incorporation : |
21.10.1999 |
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Com. Reg. No.: |
B
183611999 |
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Legal Form : |
Private
Limited Co. |
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Line of Business : |
Wholesale
of Chemical Products |
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No. of Employees : |
65 |
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) |
|
Tunisia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
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 |
TUNISIA - ECONOMIC OVERVIEW
Tunisia's diverse, market-oriented economy has long been cited
as a success story in Africa and the Middle East, but it faces an array of
challenges during the country's ongoing political transition. Following an
ill-fated experiment with socialist economic policies in the 1960s, Tunisia
embarked on a successful strategy focused on bolstering exports, foreign
investment, and tourism, all of which have become central to the country's
economy. Key exports now include textiles and apparel, food products, petroleum
products, chemicals, and phosphates, with about 80% of exports bound for
Tunisia's main economic partner, the European Union. Tunisia's liberal
strategy, coupled with investments in education and infrastructure, fueled
decades of 4-5% annual GDP growth and improving living standards. Former
President (1987-2011) Zine el Abidine BEN ALI continued these policies, but as
his reign wore on cronyism and corruption stymied economic performance and
unemployment rose among the country's growing ranks of university graduates.
These grievances contributed to the January 2011 overthrow of BEN ALI, sending
Tunisia's economy into a tailspin as tourism and investment declined sharply.
As the economy recovers, Tunisia's government faces challenges reassuring
businesses and investors, bringing budget and current account deficits under
control, shoring up the country's financial system, bringing down high
unemployment, and reducing economic disparities between the more developed
coastal region and the impoverished interior.
Source
: CIA
SOCIETE
COMMERCIALE DES PRODUITS CHIMIQUES SCPC
Rating
Briefing
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: B 183611999
Registration
Date: 1999
Legal
Form: PRIVATE LIMITED CO
Latest
Financials: N/A
Financial
Briefing
Nominal
Capital: 2,500,000 Tunisian Dinar
Issued
Capital: N/A
Turnover: 66,234,731 Tunisian Dinar
Net
Profit: 2,709,910 Tunisian Dinar
Net
Worth: N/A
Investigation Number: 188211
Company Name: SCPC
Country: TU
Street Name: ROUTE
DE GABES KM4, 5 3052
City Code: SFAX
Phone Number: +216
74453983
Fax Number: +216
74453397
Rime
Reference: 10214909
Company
Name: SOCIETE COMMERCIALE
DES PRODUITS CHIMIQUES SCPC
Company
acronym: SCPC
Headquarter
Address: Route de Sidi Mansour km 1.5,
Sfax 3000,
Tunisia
Telephone: +21674 232112
+21674
286780
+21674 453983
Fax: +21674 232123
+21674
286790
+21674
533397
E‑Mail: raja.lajmi@groupe‑hammami.com
Company
was originally started on 21/10/1999
Current
Legal Form: PRIVATE
LIMITED CO
Additional
Information: Customs ID:
788405 V
Registration
Address: Route de Sidi
Mansour km 1.5, Sfax 3000
Registration
Number: B 183611999
Registration
Date: 1999
Year/Date
Company Established:21/10/1999
Registration
Town: Sfax
Tax
Registration Number: 385191
J/A/M000
Currency: Tunisian Dinar
Authorized
Capital: 2,500,000
Paid Up
Capital: 2,500,000
Start-up
Capital: 150,000
Previous
Capital amount: 1,000,000
Parent
Company: GROUPE HAMMAMI,
Tunisia
%
Shares Held: 100.00%
Name: Mr
Khalil Hammami
Position within the company: General manager
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French/english
Name: Mr
Habib Hammami
Position within the company: Manager
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French
Name: Ms
Raja Lajmi
Position within the company: Financial Director
Country of Birth: Tunisia
Nationality: Tunisian
Can fluently speak: French
NACE Codes: 4675 Wholesale
of chemical products
The subject
is a wholesaler and a retailer of imported and local chemical products and
construction materials as Iron, bricks, wood, then re‑sold on a wholesale
basis to the local and foreign clients.
Local
Reporters consider the investigated company to be MEDIUM in their field of
concern.
Employees Company Employs: 65
Comments:
Number of Employees was 60 during 2009.
HQ
Premises Operates from: Rented Offices
Location:
Central Business Area, Side Road
Branches Rue Hassan Hosni Abdelwaheb,
Hammamet,
Nabeul 8000,
Tunisia
Branch is:
Rented
Description
of branch: Office
Route de
Gabes Km 4,5,
Sfax 3000,
Tunisia
Branch is:
Rented
Description
of branch: Office, Warehouse
Imports
Import % and type of
product: 35% Raw Materials
Imports From: France, Italy, Spain
Importing Terms: 60 days credit, letters
of credit
Additional Information: The subject buys 65% products
locally.
Exports
Export % and type of
product: 20%
Exports To: Libya, Algeria
Exporting Terms: 90 days credit, bank
transfer
Trading & Selling
Territory: 80%
Nationally, 20% International
Terms of Sales: 30 days credit, letters
of credit at sight
Type of Customer: Group Companies,
Wholesalers and Retailers
Subsidiaries
Affiliates
SOCIETE
DE FABRICATION DE CARRELAGES DE SUD
RTE SIDI
MANSOUR KM 1,5,
Sfax,
Tunisia
Start Date:
1980
Related through:
common principals and shareholders
SOCIETE
DE FABRICATION DE POUDRE
RTE DE SIDI
MANSOUR KM 1,5,
Sfax,
Tunisia
Start Date:
1982
Related
through: common principals and shareholders
SOCIETE
TUNNISIENNE DES MEULES ABRASIFS
RTE DE SIDI
MANSOUR KM 1,5,
Sfax,
Tunisia
Start Date:
1989
Related
through: common principals and shareholders
Banque
Internationale Arabe de Tunisie
Sfax 3000,
Tunisia
Relationship
with Bank: is reported to be satisfactory
Additional
Information: Date Account Opened 1999.
Societe
Tunisienne de Banque
Sfax,
Tunisia
Relationship
with Bank: is reported to be satisfactory
Banque
Nationale Agricole
Sfax 3000,
Tunisia
Relationship
with Bank: is reported to be satisfactory
Amen
Bank
Sfax 3000,
Tunisia
Relationship
with Bank: is reported to be satisfactory
Source: Raja Lajmi
Financial Director
Figures
are: Official
Figures
Currency: Tunisian Dinar
Months Sales Figures Sales Gross Profit/Loss Net
Profit/Loss
12 31/12/2012 66,234,731 2,709,910
12 31/12/2011 63,202,901 1,542,844
12 31/12/2010 59,049,100 1,610,362
Subject's
payments reported to be: NO
COMPLAINTS
Name/Title: Raja Lajmi
Financial Director
Comment: Subject has
confirmed the general details shown in the report.
Reporter
Comment Date: 14/05/2013
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/
registration number/ registered address/ legal form/ VAT number/
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.Raja Lajmi, she confirmed details
shown in this report and declined
to provide full financial details and bank account number stating the grounds
of the company’s confidentiality.
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.
Financial
Results Trend: Financial
Information indicates that the business activities of the company are
showing
an upward turn.
Age of
Business: The
company is long established in the local market.
Sources: L'Economiste Maghrebin
The subject
ranks 99 th among the 500 biggest companies in Tunisia according to the annual
classification.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.54.89 |
|
|
1 |
Rs.83.66 |
|
Euro |
1 |
Rs.70.58 |
INFORMATION DETAILS
|
Report
Prepared by : |
NIT |
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 |
|
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 |
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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 |
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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.