MIRA
INFORM REPORT
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Report Date : |
27.08.2014 |
IDENTIFICATION DETAILS
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Name : |
SCLAVOS SA |
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Registered Office : |
5 Ag. Panteleimonos, Aigaleo 12241, |
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Country : |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
17439/003/B/88/46 |
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Legal Form : |
Public Company |
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Line of Business : |
Manufacture of machinery for textile,
apparel and leather production |
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No. of Employees : |
100 |
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 : |
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 01, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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Greece |
B2 |
B2 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderate Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderate High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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 18%
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 averaged growth of about 4% per
year between 2003 and 2007, 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. By 2013 the economy had contracted
26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and
Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08,
but violated it in 2009, with the deficit reaching 15% of GDP. Austerity
measures have reduced the deficit to about 4% in 2013, including government
debt payments. Deteriorating public finances, inaccurate and misreported
statistics, and consistent underperformance on reforms prompted major credit
rating agencies to downgrade Greece's international debt rating in late 2009,
and 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, overhauling the health-care and pension systems, and reforming the
labor and product markets. Athens, however, faces long-term challenges to
continue pushing 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 Euro-Zone 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, called for holders of Greek
government bonds to write down a significant portion of their holdings. As
Greek banks held a significant portion of sovereign debt, the banking system
was adversely affected by the write down and €41 billion of the second bailout
package was set aside to ensure the banking system was adequately capitalized.
In exchange for the second loan Greece promised to introduce an additional $7.8
billion in austerity measures during 2013-15. However, the massive austerity
cuts have prolonged Greece's economic recession and depressed tax revenues.
Throughout 2013, Greece's lenders called on Athens to step up efforts to
increase tax collection, dismiss public servants, privatize public enterprises,
and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's
efforts to meet bailout conditions led to the departure of one party, the
Democratic Left, from the governing coalition when his government made the
controversial decision to shut down and restructure the state-owned television
and radio company. Subsequent reluctance to institute further cuts and delays
in meeting public sector reform targets prompted Greek lenders to withhold
bailout fund disbursements until December 2013. However, investor confidence
began to show signs of strengthening by the end of 2013 as leading
macroeconomic indicators suggested the economy’s freefall had been arrested
|
Source
: CIA |
Company: SCLAVOS
SA
:
IDENTIFICATION DETAILS
Company name: SKLAVOS S. SA
Address: 5 Ag. Panteleimonos, Aigaleo 12241, Attica,
Greece
Phone: 2103471079
Fax: 2103427168
Email: info@sclavos.gr
Web page: www.sclavos.gr,
Status: Active
G.E.M.I 3111101000
Tax ID: 094229119
Register No: 17439/003/B/88/46
Date of
incorporation: 1988
Workforce: 100
CREDIT ASSESMENT
Credit Rating: Normal Risk
OFFICE AND FACTORIES
Head Office: 5 Ag. Panteleimonos,
Aigaleo 12241, Attica, Greece
Ownership: Owned
Land:
m2:
3400
Telephone: 2103471011
Plant: Kormatzini,
Schimatari 32009, Viotia
Ownership: Owned
Land: m2:
40000,
Building: m2: 15000
Fax: 2262059787
MANAGEMENT/DIRECTORS
NAME TAX ID ID
NUMBER DOC DATE
Aristeidis Joh. Georgantas
Board Chairman, Chief Executive Officer, Legal Representative, Marketing
Director, Business Development
Director 022370556 ΑΙ647940 3298 -
15.05.2012
Spyridon Bas. Xarchas 028575536
Α056559
3298 - 15.05.2012
Board Member
George Georgiou 021872687
ΑΚ216099 3298 - 15.05.2012
Board Member, General Manager, Production Manager
George Argyris
HR Manager
George Vakis 004342144 Η813142
Chief Financial Officer
SHAREHOLDERS
FULLE NAME
TAX
ID ID NUMBER
Aristeidis Joh. Georgantas 022370556 ΑΙ647940
Evgenia Skepariotou - Georganta
ACTIVITIES
SECTOR: Machinery
& equipment
NACE INDUSTRY
29.54 Manufacture
of machinery for textile, apparel and leather production
28.40 Forging,
pressing, stamping and roll forming of metal; powder metallurgy
28.51 Treatment
and coating of metals
74.87 Other
business activities n.e.c.
Product
Kind Metal
shaping
Textile machinery
Certification: ISO 9001:2008, BUREAU VERITAS
ELLAS S.A.
IMPORT
The subject import from: United Kingdom, Spain
and Italy.
EXPORT
The subject export to: Australia, India, Indonesia, China,
Bangladesh, Pakistan, Taiwan, Province of China, Thailand and Hong Kong.
BANKING RELATIONSHIPS
BANK NAME AREA ANK NUM
ALPHA BANK ATHENS 0140106
NATIONAL BANK OF GREECE
S.A. SCHIMATARI
0110272
EFG EUROBANK ERGASIAS
S.A. EGALEO 0260294
MARFIN POPULAR BANK MAROUSI 0280226
PUBLIC CO LTD, GREEK
BRANCH
MILLENNIUM BANK S.A. N.
IONIA 0380131
BANK OF CYPRUS PERISTERI 0730004
PUBLIC COMPANY LIMITED
SUPPLIERS
FULLNAME TAX
NUMBER COUNTRY
BAKLIS BROS S.A. 094187449 Greece
CHRYSAFIDIS M. G. S.A. 094046026 Greece
STEEL CENTER S.A. 094041725 Greece
NOXON (Netherlands)
FINANCIAL INFORMATION
GENERAL COMMENTS
Please note the information provided in this report
was obtained from official and publicly available sources.
Further information was not available.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.49 |
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1 |
Rs.100.32 |
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Euro |
1 |
Rs.79.91 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
PDT |
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 |
-- |
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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.