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Report No. : |
349069 |
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Report Date : |
10.11.2015 |
IDENTIFICATION DETAILS
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Name : |
JEDDA CHAFIK |
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Registered Office : |
Rue
Tahar Sfar 5070 , Ksar Hellal |
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Country : |
Tunisia |
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Date of Incorporation : |
10.05.2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Subject operate as
general traders dealing with FMCG products |
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No. of Employees : |
10 |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Slow but correct |
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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) |
|
Tunisia |
B1 |
B1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
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 |
TUNISIA - ECONOMIC OVERVIEW
Tunisia's diverse, market-oriented economy has long been
cited as a success story in Africa and the Middle East, but it faces an array of
challenges following the 2011 revolution. Following an ill-fated experiment
with socialist economic policies in the 1960s, Tunisia embarked on a successful
strategy focused on bolstering exports, foreign investment, and tourism, all of
which have become central to the country's economy. Key exports now include
textiles and apparel, food products, petroleum products, chemicals, and
phosphates, with about 80% of exports bound for Tunisia's main economic
partner, the European Union. Tunisia's liberal strategy, coupled with
investments in education and infrastructure, fueled decades of 4-5% annual GDP
growth and improving living standards. Former President (1987-2011) Zine el
Abidine BEN ALI continued these policies, but as his reign wore on cronyism and
corruption stymied economic performance and unemployment rose among the
country's growing ranks of university graduates. These grievances contributed
to the January 2011 overthrow of BEN ALI, sending Tunisia's economy into a
tailspin as tourism and investment declined sharply. During 2012 and 2013,
security and political upheaval during transition led to a deterioration of the
economy and resulted in several downgrades of Tunisia’s credit rating.
Tunisia's government faces challenges reassuring businesses and investors,
bringing budget and current account deficits under control, shoring up the
country's financial system, bringing down high unemployment, and reducing
economic disparities between the more developed coastal region and the
impoverished interior.
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Source
: CIA |
Company
name
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Registered Name: |
JEDDA CHAFIK |
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Requested Name: |
JEDDA CHAFLK |
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Other Names: |
None |
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ADDRESS
AND TELECOMMUNICATION
|
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Physical Address: |
Rue
Tahar Sfar 5070 |
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Ksar
Hellal |
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Country: |
Tunisia |
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Phone: |
216-98457641 |
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Fax: |
216-73473786 |
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Email: |
None |
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Website: |
None |
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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: |
Sole Proprietorship |
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Date Incorporated: |
10-May-2002 |
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Reg. Number: |
Tunisia |
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Nominal Capital |
TND.
10,000 |
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Subscribed Capital |
TND.
10,000 |
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Subscribed Capital is Subscribed in the following form: |
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Position |
Shares |
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Mr. J. Chafik |
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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SOCIETE RIADA PIECES ET ACCESSOIRES
TEXTILES |
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 as
general traders dealing with FMCG products |
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Imports: |
Middle East |
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Exports: |
None |
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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: |
Local agencies, stores etc |
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Employees: |
10 employees. |
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Vehicles: |
Several motor vehicles. |
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Territory of sales: |
Tunisia |
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Location: |
Rented premises, 2,500 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: |
Tunisian Dinar (TND.) |
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Approx. Ex. Rate: |
1 US Dollar = 2.02
Tunisian 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 TND.) |
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2014 |
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Sales |
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8,000,000 |
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BANK
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Bank Name: |
Tunisian
Qatari Bank (TQB) |
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Branch: |
Tunisia |
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Comments: |
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.66.34 |
|
|
1 |
Rs.100.03 |
|
Euro |
1 |
Rs.71.45 |
INFORMATION DETAILS
|
Analysis Done by
: |
HEE |
|
|
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Report Prepared
by : |
TPT |
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 |
|
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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 |
|
|
-- |
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.