MIRA INFORM REPORT
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Report Date : |
4th May 2006 |
IDENTIFICATION DETAILS
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Name : |
ESPERANTO
JEANS |
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Registered Office : |
Industrial
Zone A2, Plot No. 4/5/17 Tenth
of Ramadan City Egypt |
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Date of Incorporation : |
1988 |
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Legal Form : |
Limited
Liability Partnership |
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Line of Business : |
Manufacturers
and dyers of denim jeans and jackets |
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 |
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Maximum Credit Limit : |
US$
200,000 |
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|
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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 |
ESPERANTO JEANS |
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Country of Origin |
Egypt |
|
Legal Form |
Limited Liability Partnership |
|
Registration Date |
1988 |
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Issued Capital |
£E 2,500,000 |
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Paid up Capital |
£E 2,500,000 |
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Total Workforce |
75 |
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Line of Business |
Manufacturers and dyers of denim jeans and jackets. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
ESPERANTO JEANS
ADDRESS
Registered &
Physical Address
Location : Industrial Zone A2, Plot No. 4/5/17
Town : Tenth of Ramadan City
Country : Egypt
Telephone : (20-15) 412701
Facsimile : (20-15) 412705
Mobile : (20-10) 5300521
Email : mustafa@esperanto.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are owned and located
in the Industrial Area of Tenth of Ramadan City.
KEY PRINCIPALS
Name Nationality Position
Mustafa Abdo Al
Zaher Mustafa Egyptian Managing Partner
Allan Codi French Partner
Mohamed Assif - Production Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1988
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability
Partnership)
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Name of Partner (s)
Mustafa Abdo Al
Zaher Mustafa
Allan Codi
LINE OF BUSINESS
Operations : Engaged in the manufacture and dyeing of
denim jeans and jackets.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 75 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 13,750,000 £E 15,060,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
Arab Bank Plc
PO Box : 1057
Tenth of Ramadan
City
Tel : (20-15)
374612
Fax : (20-15)
367016
National Societe
General Bank
Main Branch
Tenth of Ramadan
City
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 1,000,000
Established in
1988, subject is involved in the manufacture and dyeing of denim jeans and
jackets.
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.
The above credit
figure is higher than transactions previously seen and a measure of caution
would be prudent given the magnitude of the transaction.
Maximum suggested
credit figure: US$ 200,000
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 |
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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 |
|
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 |
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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 |
|
<10 |
C |
Absolute credit risk
exists. Caution needed to be exercised |
Credit not recommended |