|
Report No. : |
322225 |
|
Report Date : |
19.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
PMI PRESTIGE MITIDJA IMPORT EURL |
|
|
|
|
Registered Office : |
Zone Industrielle Site 01 07 Ben Boulaid Blida |
|
|
|
|
Country : |
Algeria |
|
|
|
|
Date of Incorporation : |
01.06.2002 |
|
|
|
|
Com. Reg. No.: |
02B0803901 |
|
|
|
|
Legal Form : |
Limited Corporation |
|
|
|
|
Line of Business : |
Import and export of hardware,
agricultural machinery, spare parts and accessories, leather goods, cosmetics
and personal care products, household appliances, sanitary ware, building
supplies. |
|
|
|
|
No. of Employee : |
80 |
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 |
|
Maximum Credit Limit : |
USD 200,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No complaints |
|
|
|
|
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 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 |
Company
NAME
|
||||
|
Registered Name: |
PMI PRESTIGE
MITIDJA IMPORT EURL |
|||
|
Requested Name: |
EURL PMI |
|||
|
Trade Names: |
EURL PMI |
|||
ADDRESS
AND TELECOMMUNICATION
|
||||
|
Physical Address: |
Zone
Industrielle Site 01 07 Ben Boulaid |
|||
|
|
Blida |
|||
|
Country: |
Algeria |
|||
|
Phone: |
213-25208167/25393340/25416937/25208170 |
|||
|
Cell: |
213-771132508/555020142 |
|||
|
Fax: |
213-25208168 |
|||
|
Email: |
||||
|
Website: |
||||
CREDIT
OPINION
|
||||
|
Financial Index as of
December 2014 shows subject firm with a medium risk of credit. However, bank and
credit information obtained reveal a history of prompt payments. We recommend
Credit of USD 200,000 on 90 days. |
||||
LEGAL
|
||||
|
Legal Form: |
Limited Corporation |
|||
|
Date Incorporated: |
01-June-2002 |
|||
|
Reg. Number: |
02B0803901 |
|||
|
Tax Number: |
09059545258 |
|||
|
VAT Number: |
000209010302082 |
|||
|
Nominal Capital |
DZD.
37,000,000 |
|||
|
Subscribed Capital |
DZD.
37,000,000 |
|||
|
Subscribed Capital is Subscribed in the following form: |
||||
|
|
Position |
Shares |
||
|
Mr. Djamel Bouchelaghem |
MD |
|
||
RELATED
COMPANIES
|
||||
|
None |
Parent company. |
|||
|
None |
Subsidiary company. |
|||
|
None |
Affiliated company. |
|||
|
None |
Shareholder of subject
firm. |
|||
|
None |
Branches of the firm |
|||
OPERATIONS
|
||||
|
Registered to operate
import and export of hardware, agricultural machinery, spare parts and
accessories, leather goods, cosmetics and personal care products, household
appliances, sanitary ware, building supplies etc |
||||
|
Imports: |
Middle East, Europe |
|||
|
Exports: |
Neighboring countries |
|||
|
Trademarks: |
None |
|||
|
Terms of sale: |
Cash (40%) and 25-90 days (60%), invoices. |
|||
|
|
|
|||
|
Main Customers: |
Local agencies, hotels, restaurants, firms and organizations |
|||
|
Employees: |
80 employees. |
|||
|
Vehicles: |
Several motor vehicles. |
|||
|
Territory of sales: |
Algeria |
|||
|
Location: |
Owned premises, 10,000 square feet, |
|||
AUDITORS
AND INSURANCE
|
||||
|
Auditors: |
Information not
available. |
|||
|
Insurance Brokers: |
Information not
available. |
|||
FINANCE
|
||||
|
Currency Reported: |
Algerian Dinar (DZD.) |
|||
|
Approx. Ex. Rate: |
1 US Dollar = 98.13
Algerian Dinar |
|||
|
Fiscal Year End: |
December 31, 2014 |
|||
|
Inflation: |
According to information given by independent sources, the inflation
at December 31st, 2014 was of 13%. |
|||
|
|
||||
|
Financial Information not
Submitted |
|
|||
|
|
|
|||
|
|
|
|||
|
Profit and Loss
(expressed in DZD.) |
||||
|
|
|
2014 |
||
|
Sales |
|
215,500,000 |
||
BANK
|
||||
|
Bank Name: |
Trust
Bank Algéria |
|||
|
Branch: |
Algeria |
|||
|
Comments: |
None |
|||
TRADE REFERENCES
|
||||
|
Experiences: |
Good |
|||
|
|
|
|||
|
NOTARIAL BONDS |
None |
|||
COMMENTS
/ ADDITIONAL INFORMATION
|
||||
|
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.63.55 |
|
|
1 |
Rs.99.86 |
|
Euro |
1 |
Rs.72.67 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
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.