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Report No. : |
350453 |
|
Report Date : |
27.11.2015 |
IDENTIFICATION DETAILS
|
Name : |
VIOLAR COTTON INDUSTRY AND CEREAL FRUIT SA |
|
|
|
|
Registered Office : |
Larisas - Volou Rd (25th Km - Old) Achilleio, 41500 ,
Larissa, Greece LAND m2: 100000 |
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|
|
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Country : |
Greece |
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|
|
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Financials (as on) : |
2014 |
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|
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Date of Incorporation : |
29.06.1989 |
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|
|
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Com. Reg. No.: |
19763/031/B/89/5 |
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Legal Form : |
Anonimous society |
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|
|
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Line of Business : |
Subject company is engaging in Cotton ginning. Imports and
trade of raw cotton, cotton seed, grains, livestock feed and biofuel
(pellet). Agricultural products. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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) |
|
Greece |
B2 |
C1 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
GREECE - ECONOMIC OVERVIEW
Greece has a capitalist economy with a public sector
accounting for about 40% of GDP and with per capita GDP about two-thirds that
of the leading euro-zone economies. Tourism provides 18% of GDP. Immigrants
make up nearly one-fifth of the work force, mainly in agricultural and
unskilled jobs. Greece is a major beneficiary of EU aid, equal to about 3.3% of
annual GDP. The Greek economy averaged growth of about 4% per year between 2003
and 2007, but the economy went into recession in 2009 as a result of the world
financial crisis, tightening credit conditions, and Athens' failure to address
a growing budget deficit. By 2013 the economy had contracted 26%, compared with
the pre-crisis level of 2007. Greece met the EU's Growth and Stability Pact
budget deficit criterion of no more than 3% of GDP in 2007-08, but violated it
in 2009, with the deficit reaching 15% of GDP. Austerity measures reduced the
deficit to about 4% in 2013, including government debt payments, but the
deficit spiked to 12.7% of GDP in 2014. Deteriorating public finances,
inaccurate and misreported statistics, and consistent underperformance on
reforms prompted major credit rating agencies to downgrade Greece's
international debt rating in late 2009, and led the country into a financial
crisis. Under intense pressure from the EU and international market
participants, the government adopted a medium-term austerity program that
includes cutting government spending, decreasing tax evasion, overhauling the
health-care and pension systems, and reforming the labor and product markets.
Athens, however, faced long-term challenges to continue pushing through
unpopular reforms in the face of widespread unrest from the country's powerful
labor unions and the general public.
In April 2010, a leading credit agency assigned Greek debt
its lowest possible credit rating, and in May 2010, the International Monetary
Fund and Euro-Zone governments provided Greece emergency short- and medium-term
loans worth $147 billion so that the country could make debt repayments to
creditors. In exchange for the largest bailout ever assembled, the government
announced combined spending cuts and tax increases totaling $40 billion over
three years, on top of the tough austerity measures already taken. Greece,
however, struggled to meet 2010 targets set by the EU and the IMF, especially
after Eurostat - the EU's statistical office - revised upward Greece's deficit
and debt numbers for 2009 and 2010. European leaders and the IMF agreed in
October 2011 to provide Athens a second bailout package of $169 billion. The
second deal however, called for holders of Greek government bonds to write down
a significant portion of their holdings. As Greek banks held a significant
portion of sovereign debt, the banking system was adversely affected by the
write down and $60 billion of the second bailout package was set aside to
ensure the banking system was adequately capitalized. In exchange for the
second loan, Greece promised to introduce an additional $7.8 billion in
austerity measures during 2013-15. However, the massive austerity cuts have
prolonged Greece's economic recession and depressed tax revenues. Greece's
lenders have continually called on Athens to step up efforts to increase tax
collection, dismiss public servants, privatize public enterprises, and rein in
health spending.
Investor confidence began to show signs of strengthening by
the end of 2013, and the decline in GDP slowed to 3.9% that year, Greece’s best
performance since 2009. Greece subsequently marked three significant milestones
in 2014: balancing its 2013 budget - not including debt repayments; re-entering
financial markets in April with the first issue of government debt since 2010;
and posting its first quarter of positive growth since 2008. Buoyed by Greece’s
success, Prime Minister Antonios SAMARAS in October announced plans to exit its
bailout program early, provoking a plunge in the Greek stock and debt markets
that pushed Greece back to the negotiating table with its creditors and
ultimately resulted in an agreement to extend the EU portion of Greece’s
bailout through February 2015. The Greek economy posted an annual economic
growth rate of 0.8 percent in 2014, the first year of positive growth since
2008. However, widespread discontent with austerity measures resulted in a
victory for the anti-austerity SYRIZA in the January 2015 parliamentary
elections. In February, Greece reached a tentative agreement with its creditors
that would provide emergency liquidity to Greece in exchange for significant
economic reforms. Uncertainty regarding Greece’s future in the Eurozone has
dampened investor confidence and lowered growth projections for 2015.
|
Source : CIA |
|
Registered Name |
VIOLAR COTTON INDUSTRY AND CEREAL FRUIT SA |
|
Trade Name |
AGROSHOP |
|
Registered Address |
Larisas - Volou Rd (25th Km - Old) Achilleio, 41500 , Larissa,
Greece LAND m2: 100000 |
|
Telephone |
+30 2410731526-8 HEAD OFFICE - PLANT, +30 2425024323 PLANT |
|
Fax |
+30 2425024323 PLANT, +30 2410731540 |
|
E-mail |
info@markoubros.com |
|
Web Site |
www.markoubros.com |
|
Status |
Registered and operational |
|
Legal Type |
SA - Société Anonyme |
|
VAT Number |
094182687 |
|
|
|
Registration No |
19763/031/B/89/5 |
Registration Date |
29/06/1989 |
|
Start Date |
29/06/1989 |
Years of Operation |
26 |
|
Last return |
24/11/2015 |
||
|
CR number |
19763/031/B/89/5 |
||
|
CINFO ID |
26838760 |
||
Summary
|
Assessment: |
Average Risk |
|
|
Payment habits: |
UNDETERMINED |
Please note that no payment information is available for the
subject company. |
|
Maximum credit |
1500000€ |
|
|
Authorized Capital |
4,681,980.00 EUR |
|
Directors |
Position |
ID |
Nationality |
Occupation |
Age |
Appointed |
Other dir. |
|
Eli. Markou, Basil |
Director |
- |
Unknown |
Chief Executive Officer |
- |
- |
No |
|
Bas. Markou, Anastasios |
Director |
006965240 |
Unknown |
Vice President |
- |
- |
No |
|
MARKU, ILIAS |
Director |
462537 |
Unknown |
Chief Financial Officer |
- |
- |
No |
|
MARKU, DIMITRIOS |
Director |
Λ688480 |
Unknown |
Board Member |
- |
- |
No |
|
Ana. Markou, Basil |
Director |
ÎÂ879979 |
Unknown |
Chairman |
- |
- |
No |
|
Other Relations |
Position |
ID |
Nationality |
Appointed |
|
Ana. Markou, Basil |
General Manager |
ÎÂ879979 |
Unknown |
|
|
Shareholders |
ID/Reg. No. |
Nationality |
Shares |
% |
|
|
ANESTIS, PETROS |
ÎÂœ871336 |
Unknown |
- |
- |
|
|
MARKU, DIMITRIOS |
Λ688480 |
Unknown |
- |
- |
|
|
Bas. Markou, Anastasios |
006965240 |
Unknown |
- |
- |
|
|
Markou, Basil |
078936139 |
Unknown |
- |
- |
|
|
MARKU, ILIAS |
462537 |
Unknown |
- |
- |
|
|
Markou , Athanasios |
055128164 |
Greece |
- |
- |
|
|
Ana. Markou, Basil |
ÎÂ879979 |
Unknown |
- |
- |
|
|
Activity Code |
Description |
|
01.41 |
Agricultural service activities; landscape gardening |
|
51.21 |
Wholesale of grain, seeds and animal feeds |
|
51.51 |
Wholesale of solid, liquid and gaseous fuels and related
products |
|
Line of business |
|
The subject company is engaging in Cotton ginning. Imports and
trade of raw cotton, cotton seed, grains, livestock feed and biofuel
(pellet). Agricultural products. |
|
Export to |
Payment terms |
Percentage |
|
Bangladesh, China, India, Indonesia, Japan, Malaysia, Pakistan |
- |
N/A |
|
Import from |
Payment terms |
Percentage |
|
Bulgaria, Russian Federation, Serbia |
- |
N/A |
|
Banks |
Swift code |
|
PIRAEUS BANK S.A. - LIVADIA BRANCH |
|
|
Comment |
|
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Bank Number: 0172152 |
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PIRAEUS BANK S.A. - M. ALEXANDROU, LARISSA |
|
|
Comment |
|
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Bank Number: 0172606 |
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EFG EUROBANK ERGASIAS S.A. - IR. POLITEHNIU STR. LARISSA |
|
|
Comment |
|
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Bank Number: 0260039 |
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EFG EUROBANK ERGASIAS S.A. - LIVADIA |
|
|
Comment |
|
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Bank Number: 0260293 |
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NATIONAL BANK OF GREECE S.A. - LIVADEIA |
|
|
Comment |
|
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Bank Number: 0110398 |
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NATIONAL BANK OF GREECE S.A. - LARISA |
|
|
Comment |
|
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Bank Number: 0110397 |
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|
ALPHA BANK - LARISSA |
|
|
Comment |
|
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Bank Number: 0140300 |
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ALPHA BANK - LIVADIA |
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Comment |
|
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Bank Number: 0140230 |
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Premises |
Date Updated |
|
Operates as: PLANT 2th klm O N R Velestinou - Volou, Velestino
37500, Magnesia, Greece |
24/11/2015 |
|
Operates as: |
24/11/2015 |
|
Owned |
|
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LAND m2: 100000 , 192531 , 192531, Larissa, Greece |
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Agencies and Suppliers |
Country |
Relation |
Date Reg. |
|
MARKOU KONSTANTINOS V. S.A |
Greece |
Supplier |
|
CHARGES
|
No |
Date Registered |
Date Prepared |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
|
No information available |
|||||||||
Charges History
|
No |
Date Registered |
Date Prepared |
Date End |
Type |
Description |
Amount |
Secondary amount |
Property |
Unit |
Beneficiary |
|
No information available |
||||||||||
According to our against the subject no negatives have been
registered.
Attached
GENERAL COMMENTS
Company was established in 1989 having a legal seat at Larissa and
is engaged in the trade of raw cotton, cotton seed, grains, livestock feed and
biofuel (pellet). In 1995 (Gov.Gaz.6340/95), subject moved its head office to
its present address.
CONCLUSION
G.E.MI.: 26541340000
Please note that no information regarding the shareholders equity was provided.
Please note that the information provided in this report was obtained from
official and publicly available sources.
Please note that the subject declined to release any further detailed and
latest financial information neither such data was found being officially
published.
Contact Information
|
No information available |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian
Rupees |
|
US Dollar |
1 |
Rs.66.55 |
|
UK Pound |
1 |
Rs.100.64 |
|
Euro |
1 |
Rs.70.70 |
|
Euro |
1 |
Rs.70.74 |
INFORMATION DETAILS
|
Analysis
Done by : |
KIN |
|
|
|
|
Report
Prepared by : |
TRU |
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.