MIRA
INFORM REPORT
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Report Date : |
21st
June, 2006. |
IDENTIFICATION
DETAILS
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Name : |
EL
ASSHRY COMPANY FOR EXPORT AND IMPORT |
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Registered Office : |
216
Port Saeed Street, Sporting, Alexandria, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1980 |
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Legal Form : |
Sharikat Tadhamun (General Partnership) |
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Line of Business : |
The
company is engaged in the import, distribution and export of food products
such as dried products, seeds & nuts, as well as cotton & fabrics,
stationery products, & chemicals |
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 : EL ASHRY CO FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1980
Partners Capital : £E 100,000
Total Workforce : 8
Line of Business : Import, distribution and export of food products, as
well as cotton & fabrics, stationery products, &
chemicals.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL ASHRY
CO FOR IMPORT & EXPORT
ADDRESS
Registered & Physical
Address
Street : 216 Port Saeed Street
Area : Sporting
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5225570 / 5231166 / 5225334
Facsimile : (20-3) 5233499
Mobile : (20-10) 1883340
Email : elashry@elashry.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Alexandria.
KEY PRINCIPALS
·
Osama
Abdul Ghani El Ashry Managing
Partner
·
Abdul
Ghani El Ashry Partner
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Ms
Manal Ahmed Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1980
Legal Form : Sharikat Tadhamun (General Partnership)
Partners
Capital : £E 100,000
Name of Partner (s)
·
Osama
Abdul Ghani El Ashry
·
Abdul
Ghani El Ashry
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations
: Engaged in the
import, distribution and export of food products such as dried
products, seeds & nuts, as well as
cotton & fabrics, stationery products, & chemicals.
Import
Countries :
India and Spain
Operating
Trend : Steady
Subject
has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Egyptian Pounds (£E)
Year
Ending 31/12/04 Year
Ending 31/12/05
Total
Revenue £E
4,600,000 £E
4,890,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab
International Bank
2 El Horreya Road
Alexandria
Tel: (20-3) 4869873
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
El Ashry
Co For Import & Export has been in business for over 25 years and
specialises in the import, distribution and export of food products such as
dried products, seeds & nuts, as well as cotton & fabrics, stationery
products, & chemicals.
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$ 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 |