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Report Date : |
24.09.2014 |
IDENTIFICATION DETAILS
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Name : |
SOCIETE RIADA PIECES ET ACCESSOIRES TEXTILES |
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Registered Office : |
Rue De Kef 5070 Ksar –Hellal |
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Country : |
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Date of Incorporation : |
10.07.2001 |
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Com. Reg. No.: |
B120522001 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject operate Import-export
of any equipment, machinery, spare parts and accessories for the textile
industry |
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No. of Employees : |
5 employees. |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 : |
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) |
|
Tunisia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
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Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
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Restricted |
C2 |
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Off-credit |
D |
TUNISIA - ECONOMIC OVERVIEW
Tunisia's diverse, market-oriented economy has long been
cited as a success story in Africa and the Middle East, but it faces an array
of challenges during the country's ongoing political transition. Following an
ill-fated experiment with socialist economic policies in the 1960s, Tunisia
embarked on a successful strategy focused on bolstering exports, foreign
investment, and tourism, all of which have become central to the country's
economy. Key exports now include textiles and apparel, food products, petroleum
products, chemicals, and phosphates, with about 80% of exports bound for
Tunisia's main economic partner, the European Union. Tunisia's liberal
strategy, coupled with investments in education and infrastructure, fueled
decades of 4-5% annual GDP growth and improving living standards. Former
President (1987-2011) Zine el Abidine BEN ALI continued these policies, but as
his reign wore on cronyism and corruption stymied economic performance and
unemployment rose among the country's growing ranks of university graduates.
These grievances contributed to the January 2011 overthrow of BEN ALI, sending
Tunisia's economy into a tailspin as tourism and investment declined sharply.
During 2012 and 2013, the Tunisian Government’s focus on the political
transition led to a neglect of the economy that resulted in several downgrades
of Tunisia’s credit rating. As the economy recovers, Tunisia's government faces
challenges reassuring businesses and investors, bringing budget and current
account deficits under control, shoring up the country's financial system,
bringing down high unemployment, and reducing economic disparities between the
more developed coastal region and the impoverished interior.
|
Source
: CIA |
|
Registered Name: |
SOCIETE RIADA PIECES
ET ACCESSOIRES TEXTILES |
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Requested Name: |
FANTAR CHEKIB |
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Trade Names: |
SRIPATEX KSAR HELAL |
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Physical Address: |
Rue
De Kef 5070 Ksar -Hellal |
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Country: |
Tunisia |
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Phone: |
216-73473785/280675 |
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Fax: |
216-73473786/280676 |
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Email: |
None |
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Website: |
None |
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
10-July-2001 |
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Reg. Number: |
B120522001 |
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Tax Number: |
0758959H |
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Nominal Capital |
TND.
1,000,000 |
|
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Subscribed Capital |
TND.
1,000,000 |
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. Fantar Chekib |
Director |
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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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Registered to operate
Import-export of any equipment, machinery, spare parts and accessories for
the textile industry |
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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 (30%) and 25-90 days (70%), invoices. |
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Main Customers: |
firms and organizations |
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Employees: |
5 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
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Location: |
Rented 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: |
Tunisian Dinar (TND.) |
|
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Approx. Ex. Rate: |
1 US Dollar = 1.78
Tunisian 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 TND.) |
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2013 |
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Sales |
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25,000,000 |
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Bank Name: |
Banque
Internationale Arabe de Tunisie (BIAT) |
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Branch: |
Tunisia |
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Comments: |
None |
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Experiences: |
Good |
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NOTARIAL BONDS |
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.60.87 |
|
|
1 |
Rs.99.63 |
|
Euro |
1 |
Rs.78.23 |
INFORMATION DETAILS
|
Analysis Done by
: |
SUB |
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|
Report Prepared
by : |
SDA |
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 |
|
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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 |
|
|
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 |
-- |
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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.