|
Report No. : |
332674 |
|
Report Date : |
25.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
INTERALLIS
CHEMICALS D.O.O. |
|
|
|
|
Formerly Known As : |
NEOCHIMIKI Ltd. |
|
|
|
|
Registered Office : |
Neznanog
Junaka 27 A, RS 11040 Beograd-Savski Venac |
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|
|
|
Country : |
Serbia |
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|
|
|
Financials (as on) : |
31.12.2013 |
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|
|
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Date of Incorporation : |
30.01.2004 |
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|
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Com. Reg. No.: |
17535277 |
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|
|
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Legal Form : |
Ltd. - Limited Liability company |
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|
|
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Line of Business : |
Subject is engaged in wholesale of chemical products |
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|
|
|
No. of Employee : |
19 |
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 |
|
Status : |
Satisfactory |
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|
|
|
Payment Behaviour : |
Slow but correct |
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|
|
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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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Serbia |
C1 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
SERBIA - ECONOMIC OVERVIEW
Serbia has a transitional economy largely dominated by market forces, but the state sector remains significant in certain areas and many institutional reforms are needed. The economy relies on manufacturing and exports, driven largely by foreign investment. MILOSEVIC-era mismanagement of the economy, an extended period of international economic sanctions, civil war, and the damage to Yugoslavia's infrastructure and industry during the NATO airstrikes in 1999 left the economy only half the size it was in 1990. After the ousting of former Federal Yugoslav President MILOSEVIC in September 2000, the Democratic Opposition of Serbia (DOS) coalition government implemented stabilization measures and embarked on a market reform program. After renewing its membership in the IMF in December 2000, Serbia continued to reintegrate into the international community by rejoining the World Bank (IBRD) and the European Bank for Reconstruction and Development (EBRD). Serbia has made progress in trade liberalization and enterprise restructuring and privatization, but many large enterprises - including the power utilities, telecommunications company, natural gas company, and others - remain in state hands. Serbia has made some progress towards EU membership, signing a Stabilization and Association Agreement with Brussels in May 2008, and with full implementation of the Interim Trade Agreement with the EU in February 2010, gained candidate status in March 2012. In January 2014, Serbia's EU accession talks officially opened. Serbia's negotiations with the World Trade Organization are advanced, with the country's complete ban on the trade and cultivation of agricultural biotechnology products representing the primary remaining obstacle to accession. Serbia's program with the IMF was frozen in early 2012 because the 2012 budget approved by parliament deviated from the program parameters; the arrangement is now void. High unemployment and stagnant household incomes are ongoing political and economic problems. Structural economic reforms needed to ensure the country's long-term prosperity have largely stalled since the onset of the global financial crisis. Growing budget deficits constrain the use of stimulus efforts to revive the economy and contribute to growing concern of a public debt crisis, given that Serbia's total public debt as a share of GDP more than doubled between 2008 and 2014. Serbia's concerns about inflation and exchange-rate stability may preclude the use of expansionary monetary policy. During 2014 the SNS party addressed issues with the fiscal deficit, state-owned enterprises, the labor market, construction permits, bankruptcy and privatization, and other areas. Major challenges ahead include: high unemployment rates and the need for job creation; high government expenditures for salaries, pensions, healthcare, and unemployment benefits; a growing need for new government borrowing; rising public and private foreign debt; attracting new foreign direct investment; and getting the IMF program back on track. Other serious longer-term challenges include an inefficient judicial system, high levels of corruption, and an aging population. Factors favorable to Serbia's economic growth include its strategic location, a relatively inexpensive and skilled labor force, and free trade agreements with the EU, Russia, Turkey, and countries that are members of the Central European Free Trade Agreement (CEFTA). In late 2014, Serbia and the IMF announced a tentative plan for a precautionary loan worth approximately $1 billion. In 2015, the government will be challenged to implement IMF-mandated reforms—which will target social spending, the large public sector, and social spending.
|
Source
: CIA |
INTERALLIS CHEMICALS D.O.O.
PRIVREDNO
DRUSTVO ZA TRGOVINU I PROIZVODNJU HEMIJSKIH PROIZVODA INTERALLIS CHEMICALS
D.O.O. BEOGRAD
Neznanog
Junaka 27 a
RS
11040 Beograd-Savski Venac
Tel:
+381 11/2084942, 2751950, 3679230, 3679231, 3679232, 3679236
Fax:
+381 11/3679231
E-Mail:
serbia@interallis.com
Web:
www.interallis.com
|
Legal
form |
Ltd.
- Limited Liability company |
|||
|
|
|
|||
|
Established |
30.01.2004
under the name NEOCHIMIKI Ltd. - Limited Liability company Since
04.10.2012 business continued under the name INTERALLIS CHEMICALS Ltd. -
Limited Liability company |
|||
|
|
|
|||
|
Registered |
National
Identification Number: 17535277 PIB
(Value Added Tax): 103217667 Serbian
Business Registers Agency Nr. 41845 |
|||
|
|
|
|||
|
Establisher |
MARE
ROSA HOLDINGS LIMITED (NIN: HE 302712) Margarita
house - Nicosia, Cyprus |
100.00% |
|
|
|
|
|
|||
|
Basic
capital |
EUR
23,583 (31.12.2013) |
|||
|
|
|
|||
Management
Marko
Malavrazic, Director, born 07.04.1968 |
||||
|
|
|
|||
Activity
Basic
activity (according to National activity classification): |
||||
|
Import
from: Greece, Bulgaria, Romania, Ukraine |
||||
|
|
|
|||
Business
Premises
Neznanog
Junaka 27 a, Beograd, rented, Office |
||||
|
Motor
pool |
Data
not available |
|||
Staff
|
|
|||
|
|
2014 |
19
employees |
|
|
|
|
2013 |
19
employees |
|
|
|
|
2012 |
19
employees |
|
|
|
|
2011 |
19
employees |
|
|
|
|
2010 |
18
employees |
|
|
|
|
2009 |
22
employees |
|
|
|
|
2008 |
26
employees |
|
|
|
|
2007 |
15
employees |
|
|
|
|
2006 |
10
employees |
|
|
|
|
2005 |
11
employees |
|
|
|
|
2004 |
4
employees |
|
|
|
|
2013
revenue |
EUR |
14,245,126 |
|
|
|
2012
revenue |
EUR |
16,888,065 |
|
|
|
2011
revenue |
EUR |
19,318,511 |
|
|
|
2010
revenue |
EUR |
17,825,524 |
|
|
|
2009
revenue |
EUR |
14,265,939 |
|
|
|
2008
revenue |
EUR |
24,156,264 |
|
|
|
2007
revenue |
EUR |
8,597,703 |
|
|
|
2006
revenue |
EUR |
5,368,850 |
|
|
|
2005
revenue |
EUR |
1,846,626 |
|
|
|
2004
revenue |
EUR |
117,138 |
|
|
Real
estate |
Data
not available |
|
|
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Unconsolidated |
|
|
|
|
|
|
FIXED
ASSETS |
252,066 |
227,933 |
277,532 |
|
|
Subscribed capital unpaid |
0 |
0 |
0 |
|
|
Intangible fixed assets |
17,820 |
0 |
554 |
|
|
Tangible fixed assets |
228,840 |
220,853 |
241,829 |
|
|
Other fixed assets |
5,405 |
7,080 |
35,149 |
|
|
|
|
|
|
|
|
CURRENT
ASSETS |
4,399,477 |
4,715,101 |
8,858,591 |
|
|
Inventories |
1,968,727 |
1,875,277 |
3,331,929 |
|
|
Short – term loans |
2,430,750 |
2,836,359 |
5,526,347 |
|
|
*Cash and cash equivalent |
50,671 |
61,785 |
120,203 |
|
|
Other current assets |
0 |
3,465 |
315 |
|
|
LOSS |
0 |
0 |
803,574 |
|
|
TOTAL
ASSETS |
4,651,543 |
4,943,034 |
9,939,698 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EQUITY
|
1,224,281 |
33,958 |
0 |
|
|
Capital |
23,583 |
23,791 |
25,851 |
|
|
Subscribed capital unpaid |
0 |
0 |
0 |
|
|
Reserves |
0 |
0 |
0 |
|
|
Revalorization reserves |
0 |
0 |
0 |
|
|
Undistributed Income |
1,200,697 |
1,337,379 |
612,701 |
|
|
Loss |
0 |
1,327,212 |
638,551 |
|
|
Treasury shares |
0 |
0 |
0 |
|
|
LONG
TERM RESERVATIONS |
0 |
0 |
0 |
|
|
LONG
TERM LIABILITIES |
1,519,599 |
3,164,538 |
0 |
|
|
SHORT
TERM LIABILITIES |
1,906,452 |
1,744,538 |
9,939,698 |
|
|
OTHER
LIABILITIES |
1,212 |
0 |
0 |
|
|
TOTAL
LIABILITIES |
4,651,543 |
4,943,034 |
9,939,698 |
|
|
|
|
|
|
|
|
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
Unconsolidated |
|
|
|
|
|
|
OPERATING
REVENUES |
12,310,933 |
13,514,459 |
19,048,289 |
|
|
Sales of goods |
12,298,448 |
14,214,310 |
18,700,296 |
|
|
OPERATING
EXPENSES |
12,274,952 |
13,519,947 |
18,759,232 |
|
|
Costs of goods sold |
11,138,588 |
12,133,843 |
12,562,682 |
|
|
Raw materials costs |
52,267 |
53,817 |
4,633,534 |
|
|
Salaries, wages and other personal
indemnities |
588,143 |
569,402 |
611,296 |
|
|
Deprecation and provision costs |
12,092 |
12,401 |
11,917 |
|
|
Other operating expenses |
483,862 |
750,484 |
939,803 |
|
|
FINANCIAL
REVENUES |
246,800 |
618,602 |
169,801 |
|
|
FINANCIAL
EXPENSES |
242,711 |
909,420 |
132,703 |
|
|
Financial
P/L |
4,089 |
(290,818) |
37,099 |
|
|
OTHER
REVENUES |
1,687,393 |
2,755,004 |
100,420 |
|
|
OTHER
EXPENSES |
322,223 |
1,597,326 |
148,662 |
|
|
Other P/L |
1,365,170 |
1,157,678 |
(48,242) |
|
|
Profit from regular business operations
before tax |
1,405,240 |
861,372 |
277,915 |
|
|
Loss from regular business operations
before tax |
0 |
0 |
0 |
|
|
Net
profit of businesses to be ceased |
0 |
0 |
0 |
|
|
Net
loss of businesses to be ceased |
0 |
1,847 |
6,556 |
|
|
Profit before taxation |
1,405,240 |
859,525 |
271,359 |
|
|
Loss before taxation |
0 |
0 |
0 |
|
|
Taxation on profit |
214,621 |
86,025 |
7,234 |
|
|
Personal indemnities paid to employer |
0 |
0 |
0 |
|
|
TOTAL
REVENUES |
14,245,126 |
16,888,065 |
19,318,511 |
|
|
TOTAL
EXPENSES |
12,839,887 |
16,026,693 |
19,040,596 |
|
|
PROFIT
OF THE PERIOD |
1,190,619 |
773,500 |
264,125 |
|
|
LOSS
OF THE PERIOD |
0 |
0 |
0 |
|
|
Number
of employees |
19 |
19 |
19 |
|
|
|
|
|
|
|
EUR |
31.12.2013 |
31.12.2012 |
31.12.2011 |
|
|
Unconsolidated |
||||
|
Financial stability ratio |
1.24 |
1.52 |
0.00 |
|
|
Equity ratio % |
26.32 |
0.69 |
0.00 |
|
|
Debt to equity (Worth) |
2.80 |
144.56 |
0.00 |
|
|
Liquidity ratio |
1.28 |
1.63 |
0.56 |
|
|
Current ratio |
2.31 |
2.70 |
0.89 |
|
|
Total assets turnover |
2.65 |
2.73 |
1.92 |
|
|
Average collection period in
days |
72.00 |
77.00 |
106.00 |
|
|
Profit margin % |
9.67 |
5.72 |
1.39 |
|
|
Return on total assets % |
25.60 |
15.65 |
2.66 |
|
|
Return on equity % |
97.25 |
2277.83 |
0.00 |
|
|
Total assets per employee
(ths.) |
244818.06 |
260159.70 |
523142.00 |
|
|
Equity per employee (ths) |
64435.83 |
1787.25 |
0.00 |
|
|
Total revenue per employee
(ths.) |
647943.84 |
711287.32 |
1002541.55 |
|
|
Profit per employee (ths.) |
62664.16 |
40710.55 |
13901.30 |
|
|
Loss per employee (ths.) |
0.00 |
0.00 |
0.00 |
|
|
Average net to salaries (ths.) |
2579.57 |
2497.38 |
2681.12 |
|
|
* Auditing of financial
statements |
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|
Medium legal entities |
||||
Corporate
structure
|
||||
|
Rep. Offices in Serbia: none |
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|
Rep. Offices abroad: none |
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|
Affiliates: |
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|
GLOBAL GALAX, Beograd-Savski
Venac, Serbia (NIN:17194577) (40.00% owned by MARE ROSA HOLDINGS LIMITED) |
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|
Subsidiaries: not identified |
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|
Immediate parent company: |
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|
MARE ROSA HOLDINGS LIMITED,
Margarita house - Nikozija, Cyprus:
(NIN:HE 302712): 100.00% |
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|
Other functions and shares of
Marko Malavrazic: |
||||
|
INDUSTRIJA M - U LIKVIDACIJI -
removed from register, Beograd (Rakovica), Serbia (NIN:17567705), establisher
(100.00%) |
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Other
info
|
||||
|
Short company name: INTERALLIS
CHEMICALS D.O.O. BEOGRAD (INTERALLIS CHEMICALS Ltd. BEOGRAD) |
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|
Former registered addresses: |
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|
Takovska 45a, BEOGRAD |
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|
till 29.08.2012 Pancevacki Put
83, BEOGRAD |
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|
Since 29.08.2012 Neznanog Junaka
27 A, BEOGRAD |
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|
History of establishment |
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|
Till May 31, 2012 owner of the
company was NEOCHIMKI INDUSTRIAL COMMERCIAL SOCIETE ANONYME, Greece with 100%
of percentage. |
||||
|
From than (May 31, 2012) new owner
is MARE ROSA HOLDINGS LIMITED, Cyprus as you can see in our report |
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|
Business activity of the
company: |
||||
|
Subject company INTERALLIS
CHEMICALS (NIN: 17535277) was established in 2004 in Serbia. INTERALLIS is an
international chemical distributor network, with Headquarters in Nicosia,
Cyprus. |
||||
|
Core activity of INTERALLIS is
the distribution of chemicals, representing leading producers, across South
East Europe. |
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|
Certificates: |
||||
|
INTERALLIS has a long-standing
business relationship with experienced, certified (ISO, HACCP, GMP, REACH)
third party logistics services providers, that enable us to service our
customers in the best possible way. |
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|
|
31.12.2013 31.12.2012 31.12.2011 31.12.2010 |
EUR 1 = RSD 114.70 EUR 1 = RSD 113.70 EUR 1 = RSD 104.64 EUR 1 = RSD 105.98 |
|
Inflation |
|
|
|
|
2012: 2011: 2010: |
12.20% 10.30% 7.90% |
Bankers
|
|
||
|
KOMERCIJALNA BANKA A.D. Beograd Svetog Save 14 205-79456-49 |
|
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|
SOCIETE GENERALE BANKA SRBIJA A.D. Beograd Bulevar Zorana Djindjica 50 a i 50 b 275-220011464-16 |
|
||
|
BANCA INTESA A.D. Beograd Milentija Popovica 7 b 160-329784-27 |
|
||
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SBERBANK SRBIJA A.D., Beograd Bulevar Mihajla Pupina 165g 285-1001000000614-20 |
|
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ERSTE BANK A.D. Novi Sad Bulevar oslobodjenja 5 340-11009839-77 |
|
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EUROBANK EFG STEDIONICA A.D. Beograd Kolarceva 3 250-1240001345030-24 |
|
||
|
No unsettled liability was registered during last 12 months. |
|
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Debt
collection
|
|||
|
Case
Registered: Case
Status: |
- |
||
|
There
is no record of any debt collection action. |
|||
|
|
|
||
Mode
of payment
As
a rule payments are made on time according to conditions, in some cases there
have been delays and reminders |
|||
|
|
|
||
Credit
opinion
Business
contacts are considered permissible; clear payment conditions and regular control
of payments are recommended |
|||
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.89 |
|
UK Pound |
1 |
Rs.99.10 |
|
Euro |
1 |
Rs.70.12 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ASH |
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.