MIRA INFORM REPORT

 

 

Report Date :

19th June 2006

 

IDENTIFICATION DETAILS

 

Name :

MEDCO ERP LTD. HOLLAND

 

 

Registered Office :

Free Zone, Street No. 12, Block H

Nasr City, Cairo, Egypt

 

 

Country :

Egypt

 

 

Date of Incorporation :

1980

 

 

Legal Form :

Branch of a Foreign Registered Corporation

 

 

Line of Business :

Engaged in the business of production & export of veterinary pharmaceuticals.

 

RATING & COMMENTS

 

MIRA’s Rating :

Ba

 

RATING

STATUS

PROPOSED CREDIT LINE

41-55

Ba

Overall operation is considered normal. Capable to meet normal commitments.

Satisfactory

 

Maximum Credit Limit :

US$ 100,000

 

 

Status :

Fair

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

SUMMARY

 

Company Name

MEDCO ERP LTD. HOLLAND

Country of Origin

Netherlands

Legal Form

Branch of a Foreign Registered Corporation

Registration Date

1980

Total Workforce

25

Line of Business

Production & export of veterinary pharmaceuticals.

Financial Condition

Undetermined

Payments

Nothing detrimental uncovered

 

 

 

 

 

COMPANY NAME

 

MEDCO ERP LTD. HOLLAND

 

 

ADDRESS

 

Registered & Physical Address

 

Location            : Free Zone, Street No. 12, Block H

Area                 : Nasr City

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 6701765

Facsimile          : (20-2) 2730063

Email                : medco@medcoerp.com

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are rented and located in the Industrial Area of Cairo.

 

 

KEY PRINCIPALS

 

Medhat Elias                                                                             General Manager

 

Tamer El Karamany                                                                   Marketing Manager

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1990

 

Legal Form                  : Subject is the Egypt registered branch of Medco Erp Ltd. Holland, a Limited

                                      Liability Company incorporated in the Netherlands.        

 

Medco Erp Ltd. Holland in Egypt, operates as a Branch of a Foreign Registered Corporation.

 

A Branch of a Foreign Registered Corporation is not a legal entity in its own right. Responsibility for payments lays in the hands of the company where it is originally registered.

 

Under these circumstances, we strongly advise that any international trade credit should only be written under the name of the main company where the subject holds its registered office, in this case the Netherlands.

 

 

LINE OF BUSINESS

 

Operations : Engaged in the production and export of veterinary pharmaceuticals.

 

Import Countries : Netherlands and India

 

Export Countries : Sudan, Algeria and Brazil

 

Subject has a workforce of 25 employees.

 

 

FINANCIAL HIGHLIGHTS

 

No financial information was released by the company or submitted by outside sources.

 

 

BANKERS

 

Export Development Bank of Egypt

108 Mohi El Din Abu El Ezz Street

Mohandessin

Cairo 11111

Tel : (20-2) 3619005 / 3385877

Fax : (20-2) 3385940 / 3385938

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 100,000

 

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 company is considered to be a fair trade risk and the above credit figure is within subject’s financial means.

 

Maximum suggested credit figure: US$ 100,000

 

 

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

Unfavourable & favourable factors carry similar weight in credit consideration. Capability to overcome financial difficulties seems comparatively below average/normal.

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

 

 

 

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