MIRA INFORM REPORT

 

 

Report Date :

4th November, 2006

 

IDENTIFICATION DETAILS

 

Name :

EGYPTIAN CO FOR INTERNATIONAL TRADE (MASHOTAL)

 

 

Registered Office :

17 Abdul Aziz Issa Street, Cairo, Egypt

 

 

Country :

Egypt

 

 

Date of Incorporation :

1986

 

 

Legal Form :

Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)

 

 

Line of Business :

Manufacturers of Shisha pipes and related accessories.

 

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$ 250,000

 

 

Status :

Satisfactory

 

 

Payment Behaviour :

Regular

 

 

Litigation :

Clear

 

 

 

 

 

 

SUMMARY

 

 

Company Name

EGYPTIAN CO FOR INTERNATIONAL TRADE   (MASHOTAL)

Country of Origin

Egypt

Legal Form

Limited Liability Partnership

Registration Date

1986

Issued Capital

£E 2,500,000

Paid up Capital

£E 2,500,000

Total Workforce

75

Line of Business

Manufacturers of Shisha pipes and related accessories.

Financial Condition

Fair

Payments

Nothing detrimental uncovered

Operating Trend

Steady

 

 

 

 

 

 

COMPANY NAME

 

EGYPTIAN CO FOR INTERNATIONAL TRADE (MASHOTAL)

 

 

ADDRESS

 

Registered & Physical Address

 

Street               : 17 Abdul Aziz Issa Street

Town                 : Cairo

Country             : Egypt

Telephone         : (20-2) 3415336

Facsimile          : (20-2) 3439380

Mobile               : (20-12) 2426011

Email                : mashotal@mashotalegyptshisha.com

 

 

Premises

 

Subject operates from a medium sized suite of offices and a factory that are owned and located in the Central Business Area of Cairo.

 

 

KEY PRINCIPALS

 

·       Amr Mostafa Darwish                                                            Managing Partner

 

·       Mohamed Owais                                                                   Partner

 

 

LEGAL FORM & OWNERS

 

Date of Establishment  : 1986

 

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)

 

·       Amr Mostafa Darwish

 

·       Mohamed Owais

 

 

LINE OF BUSINESS

 

 

Operations                   : Engaged in the manufacture of Shisha pipes and related accessories.

 

Brand Names               : MASHOTAL

 

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 16,200,000                           £E 18,500,000

 

Local sources consider subject’s financial condition to be Fair.

 

 

BANKERS

 

·       Commercial International Bank (CIB)

Nile Tower Building

21-23 Giza Street

PO Box : 2430

Cairo

Tel : (20-2) 5703043

Fax : (20-2) 5703172 / 5072691

 

 

PAYMENT HISTORY

 

No complaints regarding subject’s payments have been reported.

 

 

GENERAL COMMENTS

 

Opinion on the credit figure of US$ 100,000:

 

Established in 1986, subject is involved in the manufacture of Shisha pipes and related accessories under the brand name of Mashotal.

 

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 business 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: US$ 250,000

 

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

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

NR

In view of the lack of information, we have no basis upon which to recommend credit dealings

No Rating

 

 

 

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