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Report No. : |
314941 |
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Report Date : |
09.04.2015 |
IDENTIFICATION DETAILS
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Name : |
MOTOREST ALGERIE EURL |
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Registered Office : |
5 Eme
Km Route De Batna Cite Nassim N1 Constantine |
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Country : |
Algeria |
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Date of Incorporation : |
01.01.1995 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Subject is operate as dealers
in automotives, spare parts and related accessories |
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No. of Employee : |
100 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Maximum Credit Limit : |
USD 150000 |
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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 31, 2014
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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Algeria |
B1 |
B1 |
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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 |
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.
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Source
: CIA |
Company
NAME
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Registered Name: |
MOTOREST ALGERIE
EURL |
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Requested Name: |
MOTOREST EURL |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
5
Eme Km Route De Batna Cite Nassim N1 Constantine |
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Country: |
Algeria |
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Phone: |
213-31612856/31621212/621515/31632600/ 31621717 |
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Cell: |
213-770261263/770928551/770261263/359415/ 661300787 |
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Fax: |
213-31612856 |
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Email: |
motorest@motorest-dz.com/ r.derrouiche@motorest-dz.com/ a.abdelliche@motorest-dz.com |
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Website: |
www.motorest-dz.com |
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CREDIT
OPINION
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Financial Index as of December
2014 shows subject firm with a medium risk of credit. We recommend Credit of
USD 150,000 on 90 days. |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
01-Jan-1995 |
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Reg. Number: |
99B0062841 |
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Tax Number: |
099925006284199 |
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VAT Number: |
25016208379 |
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Nominal Capital |
DZD.
88,194,227 |
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Subscribed Capital |
DZD.
88,194,227 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Raouf Derouiche |
MD |
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Mr. Abdelhakim Abdelliche |
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 as
dealers in automotives, spare parts and related accessories |
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Imports: |
Asia,Middle East, Europe |
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Exports: |
None |
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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: |
100 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Owned 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 = 97.58
Algerian Dinar |
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Fiscal Year End: |
December 31, 2014 |
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Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 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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2014 |
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Sales |
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350,000,000 |
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BANK
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Bank Name: |
Banque
de Développement Local (BDL). |
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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
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Currency |
Unit
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Indian Rupees |
|
US Dollar |
1 |
Rs.62.33 |
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1 |
Rs.92.53 |
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Euro |
1 |
Rs.67.60 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
-- |
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.