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MIRA INFORM REPORT
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Report No. : |
489832 |
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Report Date : |
08.02.2018 |
IDENTIFICATION DETAILS
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Name : |
FINTIKAKI FANI - MIRSINI NIKOLAOS |
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Registered Office : |
105 Har. Trikoupi, Athens, 11473 , Attiki |
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Country : |
Greece |
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Date of Incorporation : |
03.04.2008 |
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Com. Reg. No.: |
8143501000 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
The subject is engaged in the imports and
wholesale trade of leather goods and accessories. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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Greece |
C1 |
C1 |
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Risk Category |
ECGC
Classification |
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Insignificant |
A1 |
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Low Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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, when the deficit reached 15% of GDP. 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 accepted a bailout program that called on Athens
to cut government spending, decrease tax evasion, overhaul the civil-service,
health-care, and pension systems, and reform the labor and product markets.
Austerity measures reduced the deficit to 1.3% in 2017. Successive Greek
governments, however, failed to push through many of the most unpopular reforms
in the face of widespread political opposition, including 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 IMF 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. Greece, however,
struggled to meet the 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 called for holders of Greek government bonds to write down a significant
portion of their holdings to try to alleviate Greece’s government debt burden.
However, Greek banks, saddled with a significant portion of sovereign debt,
were 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 2014, the Greek economy began to turn the corner on the recession.
Greece achieved three significant milestones: balancing the budget - not
including debt repayments; issuing government debt in financial markets for the
first time since 2010; and generating 0.7% GDP growth — the first economic
expansion since 2007.
Despite the nascent recovery, widespread discontent with austerity
measures helped propel the far-left Coalition of the Radical Left (SYRIZA)
party into government in national legislative elections in January 2015.
Between January and July 2015, frustrations between the SYRIZA-led government
and Greece’s EU and IMF creditors over the implementation of bailout measures
and disbursement of funds led the Greek government to run up significant arrears
to suppliers and Greek banks to rely on emergency lending, and also called into
question Greece’s future in the euro zone. To stave off a collapse of the
banking system, Greece imposed capital controls in June 2015 shortly before
rattling international financial markets by becoming the first developed nation
to miss a loan payment to the IMF. Unable to reach an agreement with creditors,
Prime Minister Alexios TSIPRAS held a nationwide referendum on 5 July on
whether to accept the terms of Greece’s bailout, campaigning for the ultimately
successful “no” vote. The TSIPRAS government subsequently agreed, however, to a
new $96 billion bailout in order to avert Greece’s exit from the monetary bloc.
On 20 August, Greece signed its third bailout which allowed it to cover
significant debt payments to its EU and IMF creditors and ensure the banking
sector retained access to emergency liquidity. The TSIPRAS government — which
retook office on 20 September after calling new elections in late August —
successfully secured disbursal of two delayed tranches of bailout funds.
Despite the economic turmoil, Greek GDP did not contract as sharply as feared,
with official estimates of a -0.2% contraction in 2015, boosted in part by a
strong tourist season.
In 2017, Greece saw improvements in GDP and unemployment. Unfinished
economic reforms, a massive non-performing loan problem, and ongoing
uncertainty regarding the political direction of the country hold the economy
back. Some estimates put Greece’s black market at 20- to 25% of GDP, as more
people have stopped reporting their income to avoid paying taxes that, in some
cases, have risen to 70% of an individual’s gross income. These issues will
continue to be a drag on the economy in 2018 and further delay recovery from
the financial crisis.
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Source
: CIA |
Basic Details
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Registered Name |
FINTIKAKI FANI - MIRSINI NIKOLAOS |
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English Name |
FINTIKAKI FANI - MIRSINI NIKOLAOS |
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Trade Name |
LEATHER SHOTS |
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Registered Address |
105 Har. Trikoupi, Athens, 11473 , Attiki,
Greece |
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Activities |
Wholesale of clothing and footwear,
Wholesale of other household goods |
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Company Status |
Registered and operational |
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Company Reg. No |
8143501000 |
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Company Reg. Date |
03/04/2008 |
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Start Date |
03/04/2008 |
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Tax Reg. No |
062347640 |
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Telephone |
+30 2103807351 |
Fax |
+30 2103807351 |
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E-mail |
mfintikaki@yahoo.gr |
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Payment Behaviour
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Payment habits |
Unknown |
Legal Status
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Legal Type |
Sole Proprietorship A business owned by a single individual.\nA
sole proprietor does not pay corporate income tax and is not obligated to
publish financial statements. Has unlimited liability for business debts and obligations.
No capital is required. |
Capital
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No capital information available |
Corporate Structure
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Directors |
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Name |
Position |
ID |
Occupation |
Age |
Nationality |
Other Rel. |
Appointment date |
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Mrs Fyntikaki, Fani - Myrsini |
Director |
062347640 (Reg. No) |
Owner |
- |
Unknown |
No |
- |
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Comment: Sole Proprietor |
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Shareholders
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Name |
ID/Reg. No |
Nationality |
Number of Shares |
Percentage of Shares |
Other Rel |
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Mrs Fyntikaki, Fani - Myrsini |
062347640 (Reg. No.) |
Unknown |
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100 |
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Operation and Activities
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Activity Code |
Description |
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NACE Code |
NACE Description |
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5142 |
Wholesale of clothing and footwear |
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5139 |
Wholesale of other household goods |
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Line of business |
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SECTOR:
Wholesale of clothing and footwear |
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Import from |
Payment terms |
Percentage |
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India |
- |
N/A |
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Banks |
Swift code |
Comments |
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ALPHA BANK -
IPPOKRATOUS |
0140353 |
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Premises |
Comprise of |
Address |
Square Meters |
Type |
Comment |
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Registered & Headquarters Address |
Office |
105 Har. Trikoupi, Athens, 11473 , Attiki,
Greece |
- |
Owned |
- |
Negative Incidents
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According to our records against the subject
no negatives have been registered.
Financial information
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No financial
information available |
Additional Information
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Conclusion |
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Please note
that the subject company is not an SA company therefore the subject doesn’t
have registration number, the Registration Number mentioned above is the GEMI
Number (General Commercial Registry) of the company, which is a newly
established service concerning the registration of commercial enterprises
regardless of their legal form. |
Country Developments
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Below information is taken from World Bank
Report of 2015 |
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Ease of Doing Business rank (1-189) |
61 |
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Overall Distance to frontier (DTF) Score
(0-100) |
66.70 |
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GNI per Capita (US$) |
22.530 |
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Getting Credit(rank) |
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Protecting minority investors (rank) |
62 |
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Trading across borders (rank) |
48 |
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Population |
11. |
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Resolving insolvency (0-100) |
52 |
Press and Media Information
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No information available |
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 64.14 |
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1 |
INR 89.50 |
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Euro |
1 |
INR 79.43 |
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Euro |
1 |
INR 78.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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NIY |
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Report Prepared
by : |
TPT |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with moderate
risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on secured
terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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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
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Promoters
/ Management background
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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.