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Report No. : |
312656 |
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Report Date : |
17.03.2015 |
IDENTIFICATION DETAILS
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Name : |
BIOCARE INDUSTRIE PHARMACEUTIQUE SARL |
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Registered Office : |
Route National no 44, Mezdour Sidi Kassi Ben Mhidi W El Tarf 36220 |
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Country : |
Algeria |
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Date of Incorporation : |
01.01.1998 |
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Com. Reg. No.: |
98B0362106 |
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Legal Form : |
Societe Anonyme Responsabilitee Limitee |
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Line of Business : |
Subject operate
manufacture and distribution of pharmaceutical products and related
facilities |
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No. of Employees : |
500 |
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
Algeria |
B2 |
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: |
BIOCARE
INDUSTRIE PHARMACEUTIQUE SARL |
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Requested Name: |
BIOCARE INDUSTRIE PHARMACEUTIQUE SARL |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
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Physical Address: |
Route
National no 44, Mezdour Sidi Kassi Ben Mhidi W El Tarf 36220 |
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Country: |
Algeria |
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Phone: |
213-30874499/38690128 |
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Cell: |
213-560036599/550963183 |
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Fax: |
213-38690129/38690130 |
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Email: |
contact@biocare-dz.com/r.benamara@biocare-dz.com |
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Website: |
www.biocare-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. |
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LEGAL
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Legal Form: |
Societe Anonyme
Responsabilitee Limitee |
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Date Incorporated: |
01-January-1998 |
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Reg. Number: |
98B0362106 |
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Tax Number: |
36030499911 |
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VAT Number: |
099836036210672 |
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Nominal Capital |
DZD.
1,070,000,000 |
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Subscribed Capital |
DZD.
1,070,000,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. Mohamed Reda Habbes |
Chairman |
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Mr. Rafik Benamara |
Director |
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Mrs. Samira Boulsina Habbes |
Director |
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Mr. Mohamed Ali Fethi |
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
manufacture and distribution of pharmaceutical products and related
facilities |
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Imports: |
Asia, Europe,Middle East |
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Exports: |
Africa |
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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: |
Local agencies. Medical firms and organizations |
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Employees: |
500 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Algeria |
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Location: |
Owned premises, 200,000 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 = 97.34
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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12,000,000,000 |
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BANK
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Bank Name: |
Banque
Nationale d'Algérie (BNA). |
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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
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
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.82 |
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1 |
Rs.92.83 |
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Euro |
1 |
Rs.66.17 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
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Report Prepared
by : |
TPT |
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.