MIRA
INFORM REPORT
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Report Date : |
2nd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN ECONOMIC CENTRE |
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Registered Office : |
29A Kasr Al Aini Street El Sayeda Zeinab, Cairo Egypt |
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Country : |
Egypt |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
13960, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of plastic raw materials |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal.
Capable to meet normal commitments. |
Satisfactory |
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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular
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Litigation : |
Clear |
SUMMARY
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Company Name |
EGYPTIAN ECONOMIC CENTRE |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1996 |
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Commercial Registration Number |
13960, Cairo |
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Invested Capital |
£E 50,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of plastic raw materials. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
EGYPTIAN ECONOMIC CENTRE
ADDRESS
Registered & Physical Address
Street : 29A Kasr Al Aini Street
Area : El Sayeda Zeinab
Town : Cairo
Country : Egypt
Telephone : (20-2) 3657950
Facsimile : (20-2) 3657966
Mobile : (20-12) 2244407
Email : eecentre@link.net
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Cairo.
KEY PRINCIPALS
Qassim Abdulrahman Mansour Proprietor & General Manager
Osama Hussain Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 13960, Cairo
Invested Capital : £E 50,000
Mr Qassim Abdulrahman Mansour is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines Mouassasa
Khassa as the business of an individual where liability for all debts is unlimited. The business is the entire responsibility of its proprietor, who is liable for all its debts to the extent of his entire wealth. There are no legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of plastic raw materials.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year Ending 31/12/04 : Year Ending 31/12/05 :
Total Revenue £E 3,800,000 £E 3,950,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of Egypt
24 Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
Acc No. 11005006434
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1996, subject is owned and managed by Mr Qassim Abdulrahman Mansour who is well respected in the local business community.
During the course of this investigation nothing detrimental was uncovered regarding subject’s operating history or the manner in which payments are fulfilled. As such the business is considered to be a fair trade risk.
Maximum suggested credit figure: US$ 100,000
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>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 |
Unfavourable & favourable factors
carry similar weight in credit consideration. Capability to overcome
financial difficulties seems comparatively below average/normal. |
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 |