MIRA
INFORM REPORT
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Report Date : |
21st
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
CBC
EGYPT |
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Registered Office : |
18 El Rafaie Square, Dokki, Giza, PO Box: 133, Cairo,
Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
72593, Giza |
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Legal Form : |
Mouassasa Khassa (Sole
Proprietorship) |
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Line of Business : |
The company is engaged in the import and distribution of
foodstuff chemicals, refrigeration equipment, medical chemicals, inks, soya
beans and milk products. |
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$
200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : CBC EGYPT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1987
Commercial Registration Number : 72593, Giza
Invested Capital : £E 250,000
Total Workforce : 18
Line of
Business :
Import and distribution of foodstuff chemicals,
refrigeration equipment, medical chemicals, inks,
soya beans and milk products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
CBC
EGYPT
ADDRESS
Registered & Physical
Address
Street : 18 El
Rafaie Square
Area : Dokki,
Giza
PO Box : 133
Town : Cairo
Country : Egypt
Telephone : (20-2) 7611577
/ 3364001 / 3364002
Facsimile : (20-2) 3359426
Email : info@cbc-egypt.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
·
Francis Abadir Shehata Proprietor
·
Micheal Francise General
Manager
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Albert Makram Shehata Finance
Manager
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Amir Samih Amin Marketing
Manager
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Medhat Hassanein Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1987
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 72593, Giza
Invested
Capital : £E 250,000
Mr Francis Abadir Shehata 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 foodstuff
chemicals, refrigeration, equipment,
medical chemicals, inks, soya beans and milk products.
Import
Countries : United States of America, Netherlands, Germany, Italy,
India, China, and
Indonesia.
Agents
for: Connell Bros Co, ABS Global, Hercules Int'l, ADM, PMC
Group, and Schils
Operating
Trend : Steady
Subject
has a workforce of 18 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
7,100,000 £E
7,750,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax :
(20-2) 5703172 / 5072691
·
Banque
du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel :
(20-2) 3904554
Fax :
(20-2) 3908992
·
Bank
of Alexandria
49 Kasr El Nile Street
Cairo
Tel : (20-2) 4824056 / 4836073
Fax : (20-2) 4837468
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Egyptian
American Bank
4 & 6 Hassan Sabri
Zamalek
PO Box : 1825
Cairo
Tel
: (20-2) 3416150
Fax : (20-2) 3420265
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
CBC
Egypt is a Sole Proprietorship owned by Francis
Abadir Shehata and engaged in the import and distribution of foodstuff
chemicals, refrigeration equipment, medical chemicals, inks, soya beans and
milk products.
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 and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: US$ 200,000
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 |