MIRA
INFORM REPORT
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Report Date : |
27th
June 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL
FADAL EST |
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Registered Office : |
149,
Gesr El Bahrst, Khalafawy, Shoubra, 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 : |
1971 |
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Com. Reg. No.: |
4447, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors
of automotive spare parts and related accessories. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
AL FADAL EST |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1971 |
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Commercial Registration Number |
4447, Cairo |
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Invested Capital |
£E 100,000 |
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Total Workforce |
10 |
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Line of Business |
Distributors of automotive spare parts and related accessories. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL FADAL EST
ADDRESS
Registered & Physical Address
Street : 149 Gesr El Bahrst
Area : Khalafawy, Shoubra
Town : Cairo
Country : Egypt
Telephone : (20-2) 2057331
Facsimile : (20-2) 2041862
Mobile : (20-12) 2197537
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
Gamal Fadal Aysh Proprietor & General Manager
Mostafa Mohamed Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 1971
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 4447, Cairo
Invested Capital : £E 100,000
Mr Gamal Fadal Aysh 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 automotive spare parts and
related accessories,
specialising in parts for Mercedes trucks.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 10 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 4,250,000 £E 4,400,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Al Watany Bank of Egypt
PO Box : 750
Cairo
Tel : (20-2) 3379363
Fax : (20-2) 3772959
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Established in 1971, subject is owned and managed by Mr Gamal Fadal Aysh who is well respected in the local business community.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the business 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 |