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Report No. : |
309715 |
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Report Date : |
10.03.2015 |
IDENTIFICATION DETAILS
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Name : |
SARL PRIMA GLACES |
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Registered Office : |
Rue Baha M'Hamed No 24, Bab Ezzouar, 16000/16110 Alger, |
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Country : |
Algeria |
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Date of Incorporation : |
01.01.1997 |
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Com. Reg. No.: |
97B0002477 |
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Legal Form : |
Societe Anonyme Responsabilitee Limitee |
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Line of Business : |
Subject operate
industrial production of ice cream and other frozen products |
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No. of Employees : |
200 Employees. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Algeria |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
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.
|
Source
: CIA |
In absence of financials, no credit limit could be recommended.
|
Registered Name: |
SARL PRIMA
GLACES |
|
Requested Name: |
SARL PRIMA GLACES |
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Other Names: |
None |
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Physical Address: |
Rue
Baha M'Hamed No 24, Bab Ezzouar, 16000/16110 Alger |
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Country: |
Algeria |
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Phone: |
213-21518181/9986/8383 |
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Cell: |
213-554503404 |
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Fax: |
213-21519494 |
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Email: |
primaglaces@primaglaces.com/ support@primaglaces.com |
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Website: |
www.primaglaces.com |
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Legal Form: |
Societe Anonyme
Responsabilitee Limitee |
|
|
Date Incorporated: |
01-Jan-1997 |
|
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Reg. Number: |
97B0002477 |
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Tax Number: |
16213402012 |
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VAT Number: |
099716000247770 |
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Nominal Capital |
DZD.
45,500,000 |
|
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Subscribed Capital |
DZD.
45,500,000 |
|
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Subscribed Capital is Subscribed in the following form: |
||
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Position |
Shares |
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Mr. Salim Zeghlache |
MD |
|
|
None |
Parent company. |
|
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
industrial production of ice cream and other frozen products |
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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 (40%) and 25-90 days (60%), invoices. |
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|
|
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Main Customers: |
firms and organizations |
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Employees: |
200 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Owned premises, 20,000 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: |
Algerian Dinar (DZD.) |
|
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Approx. Ex. Rate: |
1 US Dollar = 95.84
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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||
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Financial Information not
Submitted |
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Profit and Loss
(expressed in DZD.) |
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|
|
|
2014 |
|
Sales |
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475,927,572 |
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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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Experiences: |
Good |
|
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.62.62 |
|
|
1 |
Rs.94.39 |
|
Euro |
1 |
Rs.67.96 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
NIT |
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 |
|
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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 |
|
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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.