MIRA INFORM REPORT

 

 

Report No. :

497021

Report Date :

14.03.2018

 

 

 

IDENTIFICATION DETAILS

 

Name :

STE ELKARAMA INTERNATIONAL

 

 

Registered Office :

Road El Jem

 

 

Country :

Tunisia

 

 

Date of Incorporation :

05.07.2009

 

 

Legal Form :

Limited Corporation

 

 

Line of Business :

Subject operates as general traders.

 

(Note: We tried to confirm / obtain the detailed activity but the same is not available from any sources.)

 

 

No. of Employees :

8

 

 

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January 2017)

 

MIRA’s Rating :

A

 

Credit Rating

Explanation

 

Rating Comments

A

Acceptable Risk

Business dealings permissible with moderate risk of default

 

 

Status :

Satisfactory

 

 

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.

 

 

ECGC Country Risk Classification List

 

Country Name

Previous Rating

(30.09.2017)

Current Rating

(31.12.2017)

Tunisia

B2

B2

 

Risk Category

ECGC

Classification

Insignificant

 

A1

Low Risk

 

A2

Moderately Low Risk

 

B1

Moderate Risk

 

B2

Moderately High Risk

 

C1

High Risk

 

C2

Very High Risk

 

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 Arab Spring revolution, including slow economic growth and high unemployment. 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 EU.

Tunisia's liberal strategy, coupled with investments in education and infrastructure, fueled decades of 4-5% annual GDP growth and improved living standards. Former President Zine el Abidine BEN ALI (1987-2011) 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.

Tunisia’s government remains under pressure to boost economic growth quickly to mitigate chronic socio-economic challenges, especially high levels of youth unemployment, which has persisted since the revolution in 2011. Successive terrorist attacks against the tourism sector and worker strikes in the phosphate sector, which combined account for nearly 15% of GDP, slowed growth from 2015 to 2017. Tunis is seeking increased foreign investment and working with labor unions to limit labor disruption.

 

Source : CIA

 

 

 

SUBJECT'S NAME

 

Registered Name:

STE ELKARAMA INTERNATIONAL

Requested Name:

STE ELKARAMA INTERNATIONAL

Other Names:

None

 

 

ADDRESS AND TELECOMMUNICATION

 

Physical Address:

Road El Jem

Country:

Tunisia

Phone:

216-72285331

Fax:

216-72285331

Email:

None

Website:

None

 

 

CREDIT OPINION

 

Financial Index as of December 2017 shows subject firm with a medium risk of credit.

 

 

LEGAL

 

Legal Form:

Limited Corporation

Date Incorporated:

05-July-2009

Reg. Number:

--

Nominal Capital

TND. 100,000

Subscribed Capital

TND. 100,000

Subscribed Capital is Subscribed in the following form:

 

Position

Shares

Ahmed S.

Director

 

 

 

RELATED COMPANIES

 

None

Parent company.

None

Subsidiary company.

None

Affiliated company.

None

Shareholder of subject firm.

Cite Ettataouer Mednine Nord

4100 Medenine

Branches of the firm

 

 

OPERATIONS

 

Registered to operate as general traders

Imports:

Asia

Exports:

None

Trademarks:

None

Terms of sale:

Cash (40%) and 25-90 days (60%), invoices.

 

 

Main Customers:

firms and organizations  

Employees:

8 employees.

Vehicles:

Several motor vehicles.

Territory of sales:

Tunisia

Location:

Rented premises, 1,500 square feet,

 

 

AUDITORS AND INSURANCE

 

Auditors:

Information not available.

Insurance Brokers:

Information not available.

 

 

FINANCE

 

Currency Reported:

Tunisian Dinar (TND.)

Fiscal Year End:

December 31, 2017

Inflation:

According to information given by independent sources, the inflation at December 31st, 2017 was of 13%.

 

Financial Information not Submitted

 

 

 

Profit and Loss (expressed in TND.)

 

 

2017

Sales

 

250,000

 

 

BANK

 

Bank Name:

Societe Tunisienne de Banque (STB)

Branch:

Tunisia

Comments:

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

INR 64.96

UK Pound

1

INR 90.23

Euro

1

INR 80.09

TND

1

INR 27.06

Note: Above are approximate rates obtained from sources believed to be correct

 

 

INFORMATION DETAILS

 

Analysis Done by :

VAR

 

 

Report Prepared by :

NIT

 

 

 

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)

 

 

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.