MIRA
INFORM REPORT
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Report Date : |
2nd
November 2006 |
IDENTIFICATION
DETAILS
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Name : |
MN EGYPT |
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Registered Office : |
50B Abdel Aziz Fahmy Street Heliopolis, 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 : |
1992 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Distributors of pharmaceuticals,
chemicals and laboratory raw materials. |
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$ 100,000 |
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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 |
MN EGYPT |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1992 |
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Invested Capital |
£E 50,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of pharmaceuticals, chemicals and laboratory raw materials. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
MN EGYPT
ADDRESS
Registered & Physical Address
Street : 50B Abdel Aziz Fahmy Street
Area : Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 2414280
Facsimile : (20-2) 6356221
Email : nadiar@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
Dr Nadia Lofty Proprietor & General Manager
Amir Elia Assistant General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested Capital : £E 50,000
Dr Nadia Lofty 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 pharmaceuticals, chemicals and
laboratory raw materials.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 5 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 4,150,000 £E 4,440,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Banque Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 1992, subject is owned and managed by Dr Nadia Lofty who is well respected in the local business community.
According to local sources, subject’s financial condition is satisfactory whilst payments are made in a timely manner. The company’s operating history is reportedly clear and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure of: US$ 100,000
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 |
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NR |
In view of the lack of information, we
have no basis upon which to recommend credit dealings |
No Rating |
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