MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
AL MUSTAFA CO IMPORT AND EXPORT |
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Registered Office : |
1
Abdel Shafi Street, El Bassateen, Cairo, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sharikat
Tadhamun Bill Asshum (Limited Liability Partnership) |
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Line of Business : |
Importer
and Distributor of general merchandise, including building materials, ready
made garments, electrical appliances and foodstuff products. |
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 |
AL MUSTAFA CO IMPORT AND EXPORT |
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Country of Origin |
Egypt |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1996 |
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Issued Capital |
£E 100,000 |
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Paid up Capital |
£E 100,000 |
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Total Workforce |
7 |
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Line of Business |
Distributors of general merchandise. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
AL
MUSTAFA CO IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Street : 1 Abdel Shafi Street
Area : El Bassateen
Town : Cairo
Country : Egypt
Telephone : (20-2) 5769892
Facsimile : (20-2) 5772962
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
·
Mostafa
Abdul El Baqi Managing
Partner
·
Ismail
Abdul Wahab Partner
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Issued
Capital : £E 100,000
Paid
up Capital : £E 100,000
Name of Partner (s)
·
Mostafa
Abdul El Baqi
·
Ismail
Abdul Wahab
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general merchandise, including building materials,
ready made garments, electrical appliances and foodstuff products.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 7 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
3,470,000 £E
3,500,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Al
Watany Bank of Egypt
PO Box : 750
Cairo
Tel : (20-2) 3379363
Fax : (20-2) 3772959
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 1996, subject is owned and managed by Mr Mostafa Abdul El Baqi and Mr Ismail
Abdul Wahab who are well respected in the local business community.
Local
sources report that payment obligations are met in a generally timely manner
and the operating history is clear. As such the company is deemed a fair trade
risk and the above credit figure is considered to be within subject’s financial
means.
Maximum
suggested credit figure: 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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