MIRA
INFORM REPORT
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Report Date : |
22nd
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
EL MOTAHEDA FOR TRADING & DISTRIBUTION & AGRICULTURE AGENCIES SAE |
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Registered Office : |
159 Saad Zaghloul Street, El Wasta, Beni
Suef, Egypt |
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Country : |
Egypt |
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Financials (as on) : |
31/12/2005 |
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Date of Incorporation : |
9th February 2005 |
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Com. Reg. No.: |
12502, Beni Suef |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Distributors of agricultural equipment,
chemicals and pesticides |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually
Correct |
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Litigation : |
Clear |
SUMMARY
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Company Name |
EL MOTAHEDA FOR TRADING & DISTRIBUTION & AGRICULTURE AGENCIES SAE |
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Country of Origin |
Egypt |
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Legal Form |
Egyptian Joint Stock Company |
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Start Date |
1976 |
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Registration Date |
9th February 2005 |
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Commercial Registration Number |
12502, Beni Suef |
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Import Licence Number |
50666 |
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Issued Capital |
£E 10,000,000 |
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Paid up Capital |
£E 1,000,000 |
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Total Workforce |
20 |
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Line of Business |
Distributors of agricultural equipment, chemicals and pesticides. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
EL MOTAHEDA FOR TRADING & DISTRIBUTION & AGRICULTURE AGENCIES SAE
ADDRESS
Registered & Physical Address
Street : 159 Saad Zaghloul Street
Area : El Wasta
Town : Beni Suef
Country : Egypt
Telephone : (20-82) 2513225
Facsimile : (20-82) 2513307
Mobile : (20-10) 6683526 / 6683509 / 6683582
Email : abodeif@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are rented and located in the Central Business Area of Beni Suef.
KEY PRINCIPALS
Alaa Ibrahim Abo Deif Chairman
Emad Ibrahim Abo Deif Managing Director
Hosni Ibrahim Abo Deif Director
Fouad Ibrahim Abo Deif Director
Ibrahim Abo Deif Director
LEGAL FORM & OWNERS
Date of Establishment : 1976 as a limited liability partnership, however subject re-registered as a joint
stock company on 9th February 2005.
Legal Form : Societe Anonyme Egyptienne - SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 12502, Beni Suef
Import Licence No. : 50666
Issued Capital : £E 10,000,000
Paid up Capital : £E 1,000,000
Name of Shareholder (s)
Alaa Ibrahim Abo Deif
Emad Ibrahim Abo Deif
Hosni Ibrahim Abo Deif
Fouad Ibrahim Abo Deif
Ibrahim Abo Deif
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations :
Engaged in the import and distribution of agricultural equipment, chemicals and
pesticides.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 20 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 4,900,000 £E 6,200,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Banque du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 1976, subject is involved in
the import and distribution of agricultural equipment, chemicals and
pesticides.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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 |