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Report No. : |
352745 |
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Report Date : |
05.12.2015 |
IDENTIFICATION DETAILS
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Name : |
EURL MADJED IMPORT EXPORT |
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Registered Office : |
Ilot 262, Lotissement Chahid Mahmoud 102 Hassi Bounif, Oran |
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Country : |
Algeria |
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Date of Incorporation : |
02.07.2008 |
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Com. Reg. No.: |
08B0109912 |
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Legal Form : |
Limited Corporation |
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Line of Business : |
Import, export and distribution
of all materials for public works and building, recreational and sports,
furniture for household and office, computer products, rubber and plastic for
all purposes, cosmetics and personal care products, clothing, carpets,
blankets and similar items made from textiles or plastics. |
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No. of Employees : |
25 |
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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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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 |
SUBJECT'S
NAME
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Registered Name: |
EURL MADJED
IMPORT EXPORT |
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Requested Name: |
EURL MADJED IMPORT EXPORT |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Ilot
262, Lotissement Chahid Mahmoud 102 Hassi Bounif, |
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Oran |
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Country: |
Algeria |
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Phone: |
213-35548249 |
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Fax: |
213-35548249 |
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Email: |
None |
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Website: |
None |
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LEGAL
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Legal Form: |
Limited Corporation |
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Date Incorporated: |
02-Ju;y-2008 |
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Reg. Number: |
08B0109912 |
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Nominal Capital |
DZD.
100,000 |
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Subscribed Capital |
DZD.
100,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Salah Eddine Malaoui |
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
import, export and distribution of all materials for public works and
building, recreational and sports, furniture for household and office, computer
products, rubber and plastic for all purposes, cosmetics and personal care
products, clothing, carpets, blankets and similar items made from textiles or
plastics. |
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Imports: |
Asia, 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: |
firms and organizations |
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Employees: |
25 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Leased premises, 5,000 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 = 107.26
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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165,000,000 |
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BANK
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Bank Name: |
Trust
Bank Algéria |
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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 |
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US Dollar |
1 |
Rs.66.84 |
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1 |
Rs.101.04 |
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Euro |
1 |
Rs.73.05 |
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DZD |
1 |
Rs.0.62 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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Report Prepared by
: |
NIT |
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.