MIRA
INFORM REPORT
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Report Date : |
18.09.2014 |
IDENTIFICATION DETAILS
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Name : |
RTC GROUP SOLE SHAREHOLDER LTD (RTC GROUP LTD) |
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Formerly Known As : |
RAMSEES TRAIDING COMPANY SOLE SHAREHOLDER
LTD |
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Registered Office : |
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Country : |
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Financials (as on) : |
2013 |
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Date of Incorporation : |
17.02.2003 |
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Legal Form : |
Societe Anonyme |
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Line of Business : |
Imports and trade of hotel linen and
garments. |
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No. of Employees |
03 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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
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Country Name |
Previous Rating (31.03.2014) |
Current Rating (01.06.2014) |
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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 |
Greece has a capitalist economy
with a public sector accounting for about 40% of GDP and with per capita GDP
about two-thirds that of the leading euro-zone economies. Tourism provides 18%
of GDP. Immigrants make up nearly one-fifth of the work force, mainly in
agricultural and unskilled jobs. Greece is a major beneficiary of EU aid, equal
to about 3.3% of annual GDP. The Greek economy averaged growth of about 4% per
year between 2003 and 2007, but the economy went into recession in 2009 as a
result of the world financial crisis, tightening credit conditions, and Athens'
failure to address a growing budget deficit. By 2013 the economy had contracted
26%, compared with the pre-crisis level of 2007. Greece met the EU's Growth and
Stability Pact budget deficit criterion of no more than 3% of GDP in 2007-08,
but violated it in 2009, with the deficit reaching 15% of GDP. Austerity
measures have reduced the deficit to about 4% in 2013, including government
debt payments. Deteriorating public finances, inaccurate and misreported
statistics, and consistent underperformance on reforms prompted major credit
rating agencies to downgrade Greece's international debt rating in late 2009,
and led the country into a financial crisis. Under intense pressure from the EU
and international market participants, the government adopted a medium-term
austerity program that includes cutting government spending, decreasing tax
evasion, overhauling the health-care and pension systems, and reforming the
labor and product markets. Athens, however, faces long-term challenges to
continue pushing through unpopular reforms in the face of widespread unrest
from the country's powerful labor unions and the general public. In April 2010
a leading credit agency assigned Greek debt its lowest possible credit rating;
in May 2010, the International Monetary Fund and Euro-Zone governments provided
Greece emergency short- and medium-term loans worth $147 billion so that the
country could make debt repayments to creditors. In exchange for the largest
bailout ever assembled, the government announced combined spending cuts and tax
increases totaling $40 billion over three years, on top of the tough austerity
measures already taken. Greece, however, struggled to meet 2010 targets set by
the EU and the IMF, especially after Eurostat - the EU's statistical office -
revised upward Greece's deficit and debt numbers for 2009 and 2010. European
leaders and the IMF agreed in October 2011 to provide Athens a second bailout
package of $169 billion. The second deal however, called for holders of Greek
government bonds to write down a significant portion of their holdings. As
Greek banks held a significant portion of sovereign debt, the banking system
was adversely affected by the write down and €41 billion of the second bailout
package was set aside to ensure the banking system was adequately capitalized.
In exchange for the second loan Greece promised to introduce an additional $7.8
billion in austerity measures during 2013-15. However, the massive austerity
cuts have prolonged Greece's economic recession and depressed tax revenues.
Throughout 2013, Greece's lenders called on Athens to step up efforts to
increase tax collection, dismiss public servants, privatize public enterprises,
and rein in health spending. In June 2013 Prime Minister Antonis SAMARAS's
efforts to meet bailout conditions led to the departure of one party, the
Democratic Left, from the governing coalition when his government made the
controversial decision to shut down and restructure the state-owned television
and radio company. Subsequent reluctance to institute further cuts and delays
in meeting public sector reform targets prompted Greek lenders to withhold
bailout fund disbursements until December 2013. However, investor confidence
began to show signs of strengthening by the end of 2013 as leading
macroeconomic indicators suggested the economy’s freefall had been arrested.
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Source
: CIA |
Company name and address
Name: RTC
GROUP SOLE SHAREHOLDER LTD (RTC GROUP LTD )
Address: 303-305 El.Venizelou Ave, Kallithea 17674, Attica, Greece
Tel: 2107567744
Fax: 2107517295
Web: www.ramseesltd.gr
Email: ramseesltd@yahoo.gr
TRADΕ STYLE: RTC GROUP LTD
LEGAL STATUS AND HISTORY
Status: Active
TAX ID: 999571454
G.E.MI.: 123339001000
DATE STARTED: 02/17/2003
DURATION: Indefinite
The subject
established in February 2003 under the name "RAMSESS TRADING COMPANY LTD"
with the object of activity trade of clothing and other linens. In June 2004
moved its headquarters. In 2007 it changed its legal form and renamed
"RAMSEES TRAIDING COMPANY SOLE SHAREHOLDER LTD" and in April 2014 it
changed its name to the present one. This is not yet published in Official
Gazette.
FINANCIALS
INITIAL CAPITAL: 200,000
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FINANCIAL ANALYSIS
Short term bank
debt decrease as percentage of total assets, at 7.35% , (7.74% in 2012) , whereas
the median ratio for the sector is estimated at 11.13% . As a percentage of
turnover it is estimated at low -and lower compared to 2012- levels, at 19.71%
, whereas the median ratio for the sector is estimated at 26.17% (short term
bank debt to sales).
Total liabilities
decrease as percentage of total assets, at 23.25% , (27.03% in 2012) , whereas
the median ratio for the sector is estimated at 41.27% . Debt to equity ratio
(leverage) is estimated at very low -and lower compared to 2012- levels, at 0.30
to 1, whereas the median ratio for the sector is estimated at 0.69 to 1.
Interest coverage by operating profit is estimated at low -but increased
compared to 2012- levels, at 1.54 times, whereas the median ratio for the
sector is estimated at 2.51 times.
Total current
assets grow as percentage of total assets, at 94.55% , (94.15% in 2012) ,
whereas the median ratio for the sector is estimated at 79.81% . In the same
time, current liabilities are relatevily low as a portion of total assets
(23.25%) driving the quick ratio to a very high level of 4.07 -and increased
compared to 2012- , whereas the median ratio for the sector is estimated at
2.14 . Inventory as percentage of total assets are 62.86% , (55.92% in 2012) ,
whereas the median ratio for the sector is
estimated at
47.50% . In addition, acid test ratio is relatevily high at 1.51 -but lower
compared to 2012- , whereas the median ratio for the sector is estimated at
1.22 .
Trade cycle is
estimated at 939 days, (501 days the median ratio for the sector) while its
duration shortens compared to 2012 by 357 days . Total assets turnover improves
at 0.37 times (0.29 in 2012), which compared to the sector (0.35 times) does
not deviate from the sector median.
Gross profit
margin drops to 28.11% , (from 40.60% in 2012) , which is relatively low
compared to the median ratio in the sector (37.66% ). EBITDA margin slightly
improves at 6.91% , (from 6.81% in 2012) , which is in line with the median
ratio in the sector (6.32% ). Return on equity (RoE) drops to 0.36% , (from
0.49% in 2012) , which is very low compared to the median ratio in the sector
(6.71% ).
ACTIVITIES
COMPANY PROFILE: Imports and trade of
hotel linen and garments
SECTOR: White linen and
fabric
NACE INDUSTRY
51.41 Wholesale
of textiles
51.42 Wholesale
of clothing and footwear
52.41 Retail
sale of textiles
52.42 Retail
sale of clothing
PRODUCTS
KIND RELATION
White linen Import,
Trade
Men's garments Import,
Trade
Women's garments Import, Trade
Children's
garments Import,
Trade
EXPORTS
The subject
exports to Egypt.
IMPORTS
The subject
imports form Egypt, China, Pakistan and Portugal
MOTOR VEHICLES
VEHICLE TYPE NUMBER
SEMI-TRUCKS 1
EMPLOYEES
NO OF EMPLOYEES: 3
BANKERS
BANK NAME
AREA BANK NUM
ALPHA BANK PALAIO
PHALERO 0140118
ALPHA BANK PALAIO
PHALERO 0140155
EFG EUROBANK
ERGASIAS S.A. PAGRATI 0260034
SENIOR COMPANY PERSONNEL
NAME TAX
ID ID
NUMBER
Mahmoud Mah. Abdelfatah 131340239
284180
Administrator
Stefanos
Hatzisotiriou
Business
Development Director
SHAREHOLDERS
FULLENAME PERCENT
TAX ID ID NUMBER
Mahmoud Mah.
Abdelfatah 100.00% 131340239 284180
PROPERTIES
The subject
operates from owned premises located at the above mentioned address.
Other premises:
Type: RETAIL
STORE
Address: 303-305
El.Venizelou Ave, Kallithea 17674, Attica
OWNERSHIP: Owned
PAYMENTS
This information
is not available.
GENERAL COMMENTS:
Please note that the information provided in the report was obtained from
official and available sources.
Further information was not available.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.60.95 |
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1 |
Rs.99.32 |
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Euro |
1 |
Rs.78.96 |
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
NIS |
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 |
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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.