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Report Date : |
13.01.2014 |
IDENTIFICATION DETAILS
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Name : |
TUNISIAN INDIAN FERTILIZERS SA (TIFERT) |
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Registered Office : |
8 Rue de |
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Country : |
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Date of Incorporation : |
11.06.2006 |
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Com. Reg. No.: |
B01228102013 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
dealers in
fertilizers and related facilities |
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No. of Employees : |
80 |
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 – September 30, 2013
|
Country Name |
Previous Rating (30.06.2013) |
Current Rating (30.09.2013) |
|
Tunisia |
B2 |
B2 |
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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 |
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
Registered Name: TUNISIAN INDIAN FERTILIZERS SA (TIFERT)
Requested Name: TUNISIAN
INDIAN FERTILIZERS SA (TIFERT)
Other Names: TIFERT
TUNIS SA
Physical Address: 8 Rue de Niger
Country: Tunis 1002
Phone: 216-74667089
Fax: 216-74667090
Email: None
Website: None
Financial Index as of December 2013 shows subject firm with a medium
risk of credit. However, bank and credit information obtained reveal a history
of prompt payments.
Legal Form: Societe Anonyme
Date Incorporated: 11-June-2006
Reg. Number: B01228102013
Nominal Capital TND. 10,000
Subscribed Capital TND. 10,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Hédi Boulila Director
Mr. t. Nourredine Director
Gujarat State
Fertilizers and Chemicals Ltd. (GSFC) Shareholder 17%
Coromandel
Fertilizers Ltd. (CFL) Shareholder 17%
GCT Shareholder 35%
CPG Shareholder 35%
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as dealers in fertilizers and related facilities
Imports: Asia
Exports: None
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: firms
and organizations
Employees: 80
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Tunisia
Location: Owned
premises, 10,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Tunisian Dinar (TND.)
Approx. Ex. Rate: 1 US Dollar = 1.65 Tunisian Dinar
Fiscal
Year End: December 31, 2013
Inflation: According to
information given by independent sources, the
inflation
at December 31st, 2013 was of 13%.
Financial
Information not Submitted
Profit and Loss (expressed in TND.)
2013
Sales 30,000,000
Bank Name: Amen Bank (AB)
Branch: Tunisia
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.61.94 |
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|
1 |
Rs.102.06 |
|
Euro |
1 |
Rs.84.31 |
INFORMATION DETAILS
|
Report Prepared
by : |
MNL |
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.