MIRA INFORM REPORT
|
Report Date : |
10th May 2006 |
IDENTIFICATION DETAILS
|
Name : |
GIHEANA
GROUP |
|
|
|
|
Registered Office : |
9 Mostafa Geseraha Street Misr El Kadima, El Zahraa Cairo,
Egypt |
|
|
|
|
Date of Incorporation : |
1999 |
|
|
|
|
Com. Reg. No.: |
126772,
Giza |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Distributors of general
foodstuff products. |
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 |
|
Maximum Credit Limit : |
US$ 80,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
GIHEANA GROUP |
|
Country of Origin |
Egypt |
|
Legal Form |
Sole Proprietorship |
|
Registration Date |
1999 |
|
Commercial Registration Number |
126772, Giza |
|
Invested Capital |
£E 50,000 |
|
Total Workforce |
6 |
|
Line of Business |
Distributors of general foodstuff products. |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
GIHEANA GROUP
ADDRESS
Registered & Physical Address
Street : 9 Mostafa Geseraha Street
Area : Misr El Kadima, El Zahraa
Town : Cairo
Country : Egypt
Telephone : (20-2) 5246300
Facsimile : (20-2) 3204000
Email : giheana_group@link.net
Premises
Subject operates from a small suite of offices and a warehouse that are owned and located in the Central Business Area of Cairo.
KEY PRINCIPALS
Abdul Aal El Buraiki Proprietor & General Manager
Mohamed Abdul Aal El Buraiki Assistant General Manager
Taher Saif Commercial Manager
LEGAL FORM & OWNERS
Date of Establishment : 1999
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 126772, Giza
Invested Capital : £E 50,000
Mr Abdul Aal El Buraiki 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.
AFFILIATED COMPANIES
El Buraiki Brothers
9 Mostafa Geseraha Street
Misr El Kadima, El Zahraa
Cairo
Tel : (20-2) 5246300
Fax : (20-2) 3204000
LINE OF BUSINESS
Operations : Engaged in the import and distribution
of general foodstuff products, including milk powder, nuts, seeds and coconuts.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 6 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 3,190,000 £E 3,400,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Misr International Bank (MIBANK)
14 Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 5931002
Fax : (20-2) 5912306
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1999, subject is owned and managed by Mr Abdul Aal El Buraiki who is well respected in the local business community.
Local sources report that the subject’s operating history is clear with payment obligations met in a generally timely manner. The financial position is satisfactory and the business is deemed a fair trade risk.
Maximum suggested credit figure: US$ 80,000
GENERAL OBSERVATIONS
COMPANY NAME
GIHEANA GROUP
ADDRESS
Registered & Physical Address
Location : X8 Shaheen Street
Town : El Gozaguiiza
Country : Egypt
GENERAL COMMENTS
Opinion on the credit figure of US$ 1,000,000:
Upon investigation local sources were unable to locate a company called “Giheana Group” in Egypt. They also consulted local business directories and journals, as well as the local telephone operator however there was no mention of the subject of your enquiry.
The Bank that you provided was unwilling to disclose any information regarding its client as this information is deemed confidential. This is true with most banks in the Middle East region.
Enquiries made with the local Chamber of Commerce also proved unsuccessful as they had no listing under the name of “Giheana Group”.
Should you be able to provide us with any further information on the subject of your enquiry we shall re-investigate and endeavour to send you a full report as soon as possible.
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 |
|
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 |
|
26-40 |
B |
Unfavourable &
favourable factors carry similar weight in credit consideration. Capability
to overcome financial difficulties seems comparatively below average/normal. |
Small |
|
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 |