MIRA INFORM REPORT
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Report Date : |
10th May 2006 |
IDENTIFICATION DETAILS
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Name : |
BED
JANSEN |
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Registered Office : |
Plot No. 8, Block No. 13013 2nd Industrial
Zone, Obour City Egypt |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
2891,
Obour City |
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Legal Form : |
Egyptian
Joint Stock Company |
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Line of Business : |
Manufacturers of
mattresses, pillows and duvets. |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
RATING
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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 : |
EUR 350,000 |
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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 |
BED JANSEN |
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Country of Origin |
Egypt |
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Legal Form |
Egyptian Joint Stock Company |
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Registration Date |
2002 |
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Commercial Registration Number |
2891, Obour City |
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Issued Capital |
£E 5,000,000 |
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Paid up Capital |
£E 5,000,000 |
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Total Workforce |
125 |
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Line of Business |
Manufacturers of mattresses, pillows and duvets. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
BED JANSEN
ADDRESS
Registered & Physical Address
Location : Plot No. 8, Block No. 13013
Area : 2nd Industrial Zone
Town : Obour City
Country : Egypt
Telephone : (20-2) 6338261
Facsimile : (20-2) 6101093
Mobile : (20-12) 2149498
Premises
Subject operates from a large suite of offices and a factory that are owned and located in the Industrial Area of Obour City.
KEY PRINCIPALS
Mostafa Mohamed Mohamed Sayed Chairman
Adel Abdo Attaullah Director
Mohamed Mohamed Sayed Director
Elham Mohamed Jad Director
Majda Mostafa Abdul Hadi Director
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form : Societe Anonyme Egyptienne - SAE (Egyptian Joint
Stock Company)
Commercial Reg. No. : 2891, Obour City
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of Shareholder (s)
Mostafa Mohamed Mohamed Sayed
Adel Abdo Attaullah
Mohamed Mohamed Sayed
Elham Mohamed Jad
Majda Mostafa Abdul Hadi
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 manufacture of
mattresses, pillows and duvets.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 125 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 17,600,000 £E 20,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Societe Arabe International de Banque
PO Box : 124
Cairo
Tel : (20-2) 3499464 / 3603489
Fax : (20-2) 3603497 / 3603487
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of EUR 10,000:
Established in 2002, subject is involved in the manufacture of mattresses, pillows and duvets.
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 deemed to be within subject’s financial means.
Maximum suggested credit figure: EUR 350,000
RATING EXPLANATIONS
RATING
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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 |