|
|
|
MIRA INFORM REPORT
|
Report No. : |
500712 |
|
Report Date : |
07.04.2018 |
IDENTIFICATION DETAILS
|
Name : |
ALBI COMMERCE SH.P.K. |
|
|
|
|
Registered Office : |
Zona E Re Industriale Veternik P.N, 10000 Prishtina |
|
|
|
|
Country : |
Kosovo |
|
|
|
|
Financials (as on) : |
2016 |
|
|
|
|
Date of Incorporation : |
20.01.2003 |
|
|
|
|
Com. Reg. No.: |
80014724 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Wholesale of Fruit and Vegetables |
|
|
|
|
No. of Employees : |
15 [2016] |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
B |
|
Credit Rating |
Explanation |
Rating Comments |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
Maximum Credit Limit : |
EUR 15.000 |
|
|
|
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Slow but correct |
|
|
|
|
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.
KOSOVO - ECONOMIC OVERVIEW
Kosovo's economy has shown progress in transitioning to a market-based
system and maintaining macroeconomic stability, but it is still highly
dependent on the international community and the diaspora for financial and
technical assistance. Remittances from the diaspora - located mainly in
Germany, Switzerland, and the Nordic countries - are estimated to account for
about 17% of GDP and international donor assistance accounts for approximately
10% of GDP. With international assistance, Kosovo has been able to privatize a
majority of its state-owned enterprises.
Kosovo's citizens are the second poorest in Europe, after Moldova, with
a per capita GDP (PPP) of $10,400 in 2017. An unemployment rate of 33%, and a
youth unemployment rate near 60%, in a country where the average age is 26,
encourages emigration and fuels a significant informal, unreported economy.
Emigration remains challenging, however, because Kosovo lacks visa-free travel
to the EU. Most of Kosovo's population lives in rural towns outside of the capital,
Pristina. Inefficient, near-subsistence farming is common - the result of small
plots, limited mechanization, and a lack of technical expertise. Kosovo enjoys
lower labor costs than the rest of the region. However, high levels of
corruption, little contract enforcement, and unreliable electricity supply have
discouraged potential investors. The official currency of Kosovo is the euro,
but the Serbian dinar is also used illegally in Serb majority communities.
Kosovo's tie to the euro has helped keep core inflation low.
Minerals and metals production - including lignite, lead, zinc, nickel,
chrome, aluminum, magnesium, and a wide variety of construction materials -
once the backbone of industry, has declined because of aging equipment and
insufficient investment, problems exacerbated by competing and unresolved
ownership claims of Kosovo’s largest mines. A limited and unreliable
electricity supply is a major impediment to economic development, but Kosovo
has received technical assistance to help improve the sector’s performance and
has worked to improve infrastructure connections with its neighbors. In 2012,
Kosovo privatized its electricity supply and distribution network. The US
Government is cooperating with the Ministry of Economic Development (MED) and
the World Bank to conclude a commercial tender for the construction of Kosovo
C, a new lignite-fired power plant that would leverage Kosovo’s large lignite
reserves. MED also has plans for the rehabilitation of an older coal power
plant, Kosovo B, and the development of a coal mine that could supply both
plants.
In June 2009, Kosovo joined the World Bank and International Monetary
Fund, and began servicing its share of the former Yugoslavia's debt. In order
to help integrate Kosovo into regional economic structures, UNMIK signed (on
behalf of Kosovo) its accession to the Central Europe Free Trade Area (CEFTA)
in 2006. Kosovo joined the European Bank for Reconstruction and Development in
2012 and the Council of Europe Development Bank in 2013. In 2016, Kosovo
implemented the Stabilization and Association Agreement (SAA) negotiations with
the EU, focused on trade liberalization. Under the SAA, Kosovo — which gets
approximately 58% of government revenue from tariffs on imports — is required
to phase out tariffs on EU goods over the next seven years. In 2014, nearly 60%
of customs duty-eligible imports into Kosovo were EU goods. In 2015, Kosovo
negotiated a $185 million Stand-by Arrangement (SBA) with the IMF following the
conclusion of its previous SBA in 2014. The IMF requested an extension of the
current SBA to August 2017 to facilitate policy continuity and allow sufficient
time for ongoing structural reforms to progress. In August 2015, as part of its
EU-facilitated normalization process with Serbia, Kosovo signed agreements on
telecommunications and energy distribution, but disagreements over who owns
economic assets, such as the Trepca mining conglomerate, within Kosovo
continue.
Kosovo experienced its first federal budget deficit in 2012, when government
expenditures climbed sharply. In May 2014, the government introduced a 25%
salary increase for public sector employees and an equal increase in certain
social benefits. Central revenues could not sustain these increases, and the
government was forced to reduce its planned capital investments. The
government, led by Prime Minister MUSTAFA - a trained economist - recently made
several changes to its fiscal policy, expanding the list of duty-free imports,
decreasing the Value Added Tax (VAT) for basic food items and public utilities,
and increasing the VAT for all other goods.
While Kosovo’s economy continued to make progress, it needs further
reform and investment to enable the level of growth required to reduce
unemployment and raise living standards in a meaningful way.
|
Source
: CIA |
REGISTERED NAME & COMPANY SUMMARY
|
ALBI COMMERCE SH.P.K. |
|
|
ICON number: 73777390 |
|
Status: |
Registration status: 26.11.2012 - Registered
company |
CREDIT recommendation
Current Credit
Limit: EUR 15.000
DIRECTORS/MANAGEMENT
|
Management: |
|
NEGATIVE INFORMATION
No negative information found.
SHARE & SHARE CAPITAL INFORMATION
|
Capital: |
|
|
Partners / Shareholders: |
|
PAYMENT INFORMATION
|
Payment Practices: |
No adverse payment incidents known at this time |
|
Further Assessment Information: |
Researched company is categorized as a small company. |
|
Debt Collection: |
There is no record of any debt collection action by Coface Adriatic
d.o.o. za usluge upravljanja rizicima against this company exceeding a single
case volume of EUR 500. |
GROUP STRUCTURE & AFFILIATED COMPANIES
N/A
FINANCIAL INFORMATION
FINANCIALS:
|
Amounts shown in
Euro (EUR) |
2016 |
2015 |
|
|
|
BALANCE SHEET |
||
|
|
ASSETS |
69.554.912,00 |
65.137.473,00 |
|
|
Fixed assets |
0,00 |
0,00 |
|
|
Intangible assets |
0,00 |
0,00 |
|
|
Tangible assets |
61.813.916,00 |
53.995.106,00 |
|
|
CURRENT ASSETS |
7.740.995,00 |
11.142.367,00 |
|
|
Stock |
2.685.752,00 |
2.252.474,00 |
|
|
Receivables |
5.033.472,00 |
7.596.388,00 |
|
|
Other assets |
21.771,00 |
1.293.504,00 |
|
|
LIABILITIES |
69.554.912,00 |
65.137.473,00 |
|
|
Shareholders funds |
1.917.308,00 |
930.951,00 |
|
|
Share capital |
50.000,00 |
50.000,00 |
|
|
Total long term debts |
19.091.011,00 |
16.683.404,00 |
|
PROFIT AND LOSS
ACCOUNT |
|
||
|
|
Turnover |
19.581.413,00 |
16.934.935,00 |
|
|
Production |
15.897.396,00 |
14.344.995,00 |
|
|
Purchases |
12.329.921,00 |
11.319.983,00 |
|
|
General costs |
3.567.475,00 |
3.025.012,00 |
|
|
Operating profit |
5.237.691,00 |
4.145.489,00 |
|
|
Financial result / Financial costs |
-1.553.674,00 |
-1.555.549,00 |
|
|
Pretax profit / loss |
4.260.684,00 |
2.068.780,00 |
|
|
Taxes |
213.034,00 |
103.439,00 |
|
|
Profit / loss after tax |
1.917.308,00 |
930.951,00 |
RATIOS:
Current ratios for the year 2016
|
|
|
|
Return on equity (ROE), in % |
4,73 |
|
Return on sales ( ROS ), in% |
9,79 |
|
Return on assets ( ROA ), in% |
2,76 |
|
Equity ratio, in % |
58,25 |
|
Sales to Total assets |
0,28 |
|
Increase/Decrease of Sales, in % |
15,63 |
|
Return on equity (ROE), in % |
(Profit after tax / Equity capital)*100 |
|
Return on sales ( ROS ), in% |
(Profit after tax / Sales)*100 |
|
Return on assets ( ROA ), in% |
(Profit after tax / Total assets)*100 |
|
Equity ratio, in % |
(Equity capital / Total Liabilities and Funds) *100 |
|
Sales to Total assets |
Turnover / Total Assets |
|
Historical
Ratios: |
|
|
2015 |
|
Return on equity (ROE), in % |
2,24 |
|
Return on sales ( ROS ), in% |
5,50 |
|
Return on assets ( ROA ), in% |
1,43 |
|
Equity ratio, in % |
63,74 |
|
Sales to Total assets |
0,26 |
|
Return on equity (ROE), in % |
(Profit after tax / Equity capital)*100 |
|
Return on sales ( ROS ), in% |
(Profit after tax / Sales)*100 |
|
Return on assets ( ROA ), in% |
(Profit after tax / Total assets)*100 |
|
Equity ratio, in % |
(Equity capital / Total Liabilities and Funds) *100 |
|
Sales to Total assets |
Turnover / Total Assets |
ADDITIONAL INFORMATION
|
Insolvency / Legal Events: |
According to available information sources the Company is not in a
insolvency/preliminary/debt regulation proceeding. |
|
Established: |
20.01.2003 |
|
Registration: |
No. 80014724 |
|
Registration status: |
26.11.2012 - Registered company |
|
Legal Form: |
Limited Liability Company |
|
Activity status: |
20.01.2003 - Active company |
|
Activities: |
NACE |
|
Workforce: |
|
|
Bankers: |
Information about company’s bankers are officially unavailable |
|
Contact With Company: |
05.04.2018 The company was contacted, but as of this writing no answer
has been received. If company responds, an updated report will be sent to you
promptly. |
|
Additional information: |
It is part of Albi group |
NOTES & COMMENTS
N/A
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 64.98 |
|
|
1 |
INR 90.95 |
|
Euro |
1 |
INR 79.51 |
|
Euro |
1 |
INR 79.84 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
VAR |
|
|
|
|
Report Prepared
by : |
TPT |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial condition covering various ratios
·
Company background and operations size
·
Promoters / Management background
·
Payment record
·
Litigation against the subject
·
Industry scenario / competitor analysis
·
Supplier / Customer / Banker review (wherever
available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.