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Report Date : |
26.03.2014 |
IDENTIFICATION DETAILS
|
Name : |
THE DEPOT COMPANY FOR TIRE AND BATTERY
IMPORTS |
|
|
|
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Registered Office : |
Coastal
Highway ,Tajoura O, Tripoli |
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|
|
|
Country : |
Libya |
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|
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Year of Establishments: |
2001 |
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Com. Reg. No.: |
Not Available |
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|
|
Legal Form : |
Limited Corporation |
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|
|
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Line of Business : |
importers and suppliers
of batteries and tires |
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|
|
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No. of Employees |
30 |
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 |
|
Maximum Credit Limit : |
USD 100,000 |
|
|
|
|
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 – december 01, 2013
|
Country Name |
Previous Rating (30.09.2013) |
Current Rating (01.12.2013) |
|
Libya |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
Libya ECONOMIC OVERVIEW
Libya's economy is structured primarily around the nation's energy sector, which generates about 95% of export earnings, 80% of GDP, and 99% of government income. Substantial revenue from the energy sector coupled with a small population give Libya one of the highest per capita GDPs in Africa, but Tripoli largely has not used its significant financial resources to develop national infrastructure or the economy, leaving many citizens poor. In the final five years of QADHAFI''s rule, Libya made some progress on economic reform as part of a broader campaign to reintegrate the country into the international fold. This effort picked up steam after UN sanctions were lifted in September 2003 and after Libya announced in December 2003 that it would abandon programs to build weapons of mass destruction. The process of lifting US unilateral sanctions began in the spring of 2004; all sanctions were removed by June 2006, helping Libya attract greater foreign direct investment, especially in the energy and banking sectors. Libyan oil and gas licensing rounds drew high international interest, but new rounds are unlikely to be successful until Libya establishes a more permanent government and is able to offer more attractive financial terms on contracts and increase security. Libya faces a long road ahead in liberalizing its primarily socialist economy, but the revolution has unleashed previously restrained entrepreneurial activity and increased the potential for the evolution of a more market-based economy. The service and construction sectors, which account for roughly 60% of GDP, expanded over the past five years and could become a larger share of GDP if Tripoli prioritizes capital spending on development projects once political and security uncertainty subside. Climatic conditions and poor soils severely limit agricultural output, and Libya imports about 80% of its food. Libya''s primary agricultural water source is the Great Manmade River Project.
Source : CIA
Registered Name: THE DEPOT COMPANY FOR TIRE AND BATTERY
IMPORTS
Requested Name: THE
DEPOT COMPANY FOR TIRE AND BATTERY IMPORTS
Other Names: THE
DEPOT GROUP OF BATTERIES AND TIRES IN TRIPOLI
Physical Address: Coastal Highway ,Tajoura O,
Tripoli
Postal Address: P. o. Box 8567
Tripoli,
Country: Libya
Phone: 218-924913788
Fax: 218-924913788
Email: None
Website: None
Financial
Index as of December 2013 shows subject firm with a medium risk of credit. We
recommend Credit of USD 100,000 on 90 days.
Legal Form: Limited Corporation
Date Incorporated: 2001
Reg. Number: Libya
Nominal Capital LYD. 100,000
Subscribed Capital LYD. 100,000
Subscribed Capital is Subscribed in the following form:
Position Shares
Mr. M. Zarandin Director
Mr. Christopher
Buca Admin
None Parent company.
None Subsidiary company.
None Affiliated company.
None Shareholder of subject firm.
None Branches of the firm
Registered to operate as importers and suppliers of batteries and tires
Imports: Asia,
Middle East
Exports: None
Trademarks: None
Terms of sale: Cash
(80%) and 25-90 days (20%), invoices.
Main Customers: firms
and organizations
Employees: 30
employees.
Vehicles: Several
motor vehicles.
Territory of
sales: Libya
Location: Rented
premises, 5,000 square feet,
Auditors: Information not available.
Insurance
Brokers: Information not available.
Currency Reported: Libyan Dinar (LYD.)
Approx. Ex. Rate: 1 US Dollar = 1.25 Libyan 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 LYD.)
2013
Sales 6,500,000
Bank Name: Sahara Bank
Branch: Libya
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.60.49 |
|
|
1 |
Rs.99.77 |
|
Euro |
1 |
Rs.83.67 |
INFORMATION DETAILS
|
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.