|
Report Date : |
10.06.2014 |
IDENTIFICATION DETAILS
|
Name : |
EURL CONIMEX
INTERNATIONAL |
|
|
|
|
Registered Office : |
Cite
Bois Des Pins BT G 16405 Hydra Algiers |
|
|
|
|
Country : |
Algeria |
|
|
|
|
Year of Establishment : |
2008 |
|
|
|
|
Com. Reg. No.: |
08B0976905 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Importer
of Raw Materials & exporters
of Food Products such as Meat, Vegetables & Fruits |
|
|
|
|
No of Employees : |
50 |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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 31, 2014
|
Country Name |
Previous Rating (31.12.2013) |
Current Rating (31.03.2014) |
|
Algeria |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderate Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderate High Risk |
C1 |
|
High Risk |
C2 |
|
Very High Risk |
D |
Algeria ECONOMIC OVERVIEW
Algeria's economy remains dominated by the state, a legacy of
the country's socialist postindependence 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.
|
Source
: CIA |
Registered Name: EURL CONIMEX INTERNATIONAL
Requested Name: EURL
CONIMEX INTERNATIONAL
Other Names: None
Physical Address: Cite Bois Des Pins BT G 16405
Hydra Algiers
Postal Address: Cite Bois Des Pins BT G 16405
Hydra,
Algiers
Country: Algeria
Phone: 213
21609406
Cell: 213-560038115/16/17/18/5439/550903308
Fax: 213-21609406
Email: conimex.internaional@yahoo.fr
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: Limited Corporation
Date Incorporated: 2008
Reg. Number: 08B0976905
Tax Number: 000816097690531
Nominal Capital DZD. 11,480,000
Subscribed Capital DZD. 11,480,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. Rabah Ami
Saada MD
Mr. Ibrahim
Mouhoub Director
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as import of raw materials and exporters of food
products such as meat, vegetables & fruits
Imports: Asia,
Middle East
Exports: Europe,
America
Trademarks: None
Terms of sale: Cash
(40%) and 25-90 days (60%), invoices.
Main Customers: Stores,
outlets etc
Employees: 50
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Algeria
Location: Owned
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Algerian Dinar (DZD.)
Approx. Ex. Rate: 1 US Dollar = 79.21 Algerian 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 ETB.)
2012 2013
Sales 2,000,000,000 3,150,000,000
Bank Name: Société Générale Algérie
Branch: Algeria
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.59.06 |
|
|
1 |
Rs.99.35 |
|
Euro |
1 |
Rs.80.62 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
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 |
|
-- |
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.