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Report Date : |
22.01.2014 |
IDENTIFICATION DETAILS
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Name : |
OLYMPIC ICE SARL |
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Registered Office : |
Rue
Des Freres Mokhtar Birkhadem 14, Alger, |
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Country : |
Algeria |
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Date of Incorporation : |
08.06.1998 |
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Com. Reg. No.: |
98B0003038 |
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Legal Form : |
Societe Anonyme
Responsibilitee Limitee |
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Line of Business : |
Subject operate as dealers in
food products such as cheese, pizza, mayonnaise, sauces, ice-cream |
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No. of Employees : |
50 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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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) |
|
Algeria |
A2 |
A2 |
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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 |
ALGERIA - ECONOMIC OVERVIEW
Algeria's economy remains dominated by the state, a legacy of the country's socialist post-independence development model. In recent years the Algerian Government has halted the privatization of state-owned industries and imposed restrictions on imports and foreign involvement in its economy. Hydrocarbons have long been the backbone of the economy, accounting for roughly 60% of budget revenues, 30% of GDP, and over 95% of export earnings. Algeria has the 10th-largest reserves of natural gas in the world and is the sixth-largest gas exporter. It ranks 16th in oil reserves. Strong revenues from hydrocarbon exports have brought Algeria relative macroeconomic stability, with foreign currency reserves approaching $200 billion and a large budget stabilization fund available for tapping. In addition, Algeria's external debt is extremely low at about 2% of GDP. However, Algeria has struggled to develop non-hydrocarbon industries because of heavy regulation and an emphasis on state-driven growth. The government's efforts have done little to reduce high youth unemployment rates or to address housing shortages. A wave of economic protests in February and March 2011 prompted the Algerian Government to offer more than $23 billion in public grants and retroactive salary and benefit increases, moves which continue to weigh on public finances. Long-term economic challenges include diversifying the economy away from its reliance on hydrocarbon exports, bolstering the private sector, attracting foreign investment, and providing adequate jobs for younger Algerians
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Source
: CIA |
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Registered Name: |
OLYMPIC ICE SARL |
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Requested Name: |
SARL OLYMPIC |
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Other Names: |
None |
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Physical Address: |
Rue
Des Freres Mokhtar Birkhadem 14, |
|
|
Alger, |
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Country: |
Algeria |
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Phone: |
213-21553589/555024/555172 |
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Fax: |
213-21553593 |
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Email: |
sarl_olympic_ice@hotmail.com |
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Website: |
None |
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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. We
recommend Credit of USD 200,000 on 90 days. |
|
Legal Form: |
Societe Anonyme
Responsibilitee Limitee |
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Date Incorporated: |
08-June-1998 |
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Reg. Number: |
98B0003038 |
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Nominal Capital |
DZD.
20,000,000 |
|
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Subscribed Capital |
DZD.
20,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
|
Mr. Abdelhak Bourega |
MD |
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Mr. M'hamed Bourega |
Director |
|
|
None |
Parent company. |
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None |
Subsidiary company. |
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None |
Affiliated company. |
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None |
Shareholder of subject
firm. |
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None |
Branches of the firm |
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Registered to operate as
dealers in food products such as cheese, pizza, mayonnaise, sauces, ice-cream
under brands such as MAXI PLUS,FAMILY, MAXI COPPA, CORNETO, SOFT, MALIBU, MAXI TOP, MAXI
DOO, MINI MAXI, TARTE MAXI, MAXI MAYO, MAXI SAUCES, CREM CHEESE and MAXI
CHEESE |
|
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Imports: |
Asia |
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Exports: |
Neighboring countries |
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Trademarks: |
None |
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Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
50 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Owned premises, 10,000 square feet, |
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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Currency Reported: |
Algerian Dinar (DZD.) |
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Approx. Ex. Rate: |
1 US Dollar = 78.30
Algerian Dinar |
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Fiscal Year End: |
December 31, 2013 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2013 was of 13%. |
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Financial Information not
Submitted |
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Profit and Loss
(expressed in DZD.) |
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2012 |
2013 |
|
Sales |
60,000,000 |
62,000,000 |
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Bank Name: |
Housing
Bank For Trade And Finance Algeria |
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Branch: |
Algeria |
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Comments: |
None |
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Experiences: |
Good |
None
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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.61.54 |
|
|
1 |
Rs.101.08 |
|
Euro |
1 |
Rs.83.38 |
INFORMATION DETAILS
|
Report Prepared
by : |
NIS |
RATING EXPLANATIONS
|
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 |
-- |
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.