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Report Date : |
21.11.2014 |
IDENTIFICATION DETAILS
|
Name : |
SANAMED SARL |
|
|
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Registered Office : |
Hai
Si Toufik N°16, Zéralda, Alger |
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Country : |
Algeria |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
99B0008892 |
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Legal Form : |
Societe Anonyme
Responsabilitee Limitee |
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Line of Business : |
Manufacture, import and
export of pharmaceuticals and related products |
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|
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No of Employees : |
100 |
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 250,000 |
|
Status : |
Satisfactory |
|
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 – June 1, 2014
|
Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
|
Algeria |
B1 |
B2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
|
Off-credit |
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 |
SUBJECT'S
NAME
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Registered Name: |
SANAMED SARL |
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Requested Name: |
SANAMED |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Hai
Si Toufik N°16, Zéralda, Alger |
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Production Unit Address: |
45,48
Zone D'activite De Zeralda Ferme Yassouel Kouider Zeralda Alger |
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Postal Address: |
BP
160 |
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Country: |
Algeria |
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Phone: |
213-23208102/03/21323388/7438 |
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Cell: |
213-555035550/770902722 |
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Fax: |
213-21323388/21337131 |
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Email: |
sanamedpharma@hotmail.com/ dmvsanamed@gmail.com |
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Website: |
www.sanamed-dz.com |
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CREDIT
OPINION
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Financial Index as of
December 2013 shows subject firm with a medium risk of credit. We recommend
Credit of USD 250,000 on 90 days. |
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LEGAL
|
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Legal Form: |
Societe Anonyme
Responsabilitee Limitee |
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Founded: |
1995 |
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Date Incorporated: |
15-May-1999 |
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Reg. Number: |
99B0008892 |
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Tax Number: |
099916000889266 |
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Nominal Capital |
DZD.
170,000,000 |
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Subscribed Capital |
DZD.
170,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Bechar Sanadiki |
MD |
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Mr. Mouaz Sanadiki |
Director |
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RELATED
COMPANIES
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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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OPERATIONS
|
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Registered to operate manufacture,
import and export of pharmaceuticals and related products |
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Imports: |
Asia, Europe, Middle East |
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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: |
Local agencies, medical stores, outlets, firms and organizations
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Employees: |
100 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Leased premises, 10,000 square feet, |
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AUDITORS
AND INSURANCE
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Auditors: |
Information not
available. |
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Insurance Brokers: |
Information not
available. |
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FINANCE
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Currency Reported: |
Algerian Dinar (DZD.) |
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Approx. Ex. Rate: |
1 US Dollar = 84.81
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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|
2013 |
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Sales |
|
671,377,486 |
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BANK
|
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Bank Name: |
Caisse
Nationale d'Épargne et de Prévoyance (CNEP). |
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Branch: |
Algeria |
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Comments: |
None |
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TRADE REFERENCES
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Experiences: |
Good |
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NOTARIAL BONDS
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None |
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COMMENTS
/ ADDITIONAL INFORMATION
|
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|
This information was obtained
from outside sources other than the subject company itself and confirmed the
above subject. |
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FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.10 |
|
|
1 |
Rs.97.32 |
|
Euro |
1 |
Rs.77.91 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
SMN |
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.