MIRA
INFORM REPORT
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Report Date : |
15th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
EL
HEGAZY COMPANY FOR IMPORT AND EXPORT |
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Registered Office : |
El
Kilo 35, El Zaraee Road, Toukh, Qulybiyah, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
01.04.2005 |
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Com. Reg. No.: |
4420 |
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Legal Form : |
Sharikat
Tadhamun (General Partnership) |
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Line of Business : |
Importer and Distributors of herbal
products, spices and dried fruit. |
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$
60,000 |
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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 |
EL HEGAZY COMPANY FOR IMPORT AND EXPORT |
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Country of Origin |
Egypt |
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Legal Form |
General Partnership |
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Registration Date |
1st April 2005 |
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Commercial Registration Number |
4420 |
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Partners Capital |
£E 50,000 |
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Total Workforce |
8 |
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Line of Business |
Distributors of herbal products, spices and dried fruit. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
EL
HEGAZY COMPANY FOR IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Location : El Kilo 35
Street : El Zaraee Road
Area :
Toukh
Town : Qulybiyah
Country : Egypt
Telephone : (20-13) 2471898
Facsimile : (20-13) 2471898
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Qulybiyah.
KEY PRINCIPALS
·
Mohamed
Adel Hegazy Managing
Partner
·
Ahmed
Adel Hegazy Partner
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Mohamed
Mursi Commercial
Manager
·
Rehab
Ismail Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1st April 2005
Legal Form : Sharikat Tadhamun (General Partnership)
Commercial Reg. No. : 4420
Partners
Capital : £E 50,000
Name of Partner (s)
·
Mohamed
Adel Hegazy
·
Ahmed
Adel Hegazy
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
AFFILIATED COMPANIES
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El
Hegaz Factory
El Kilo 35
El Zaraee Road
Toukh
Qulybiyah
Tel : (20-13) 2471898
Fax : (20-13) 2471898
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of herbal products, spices and dried fruit.
Import
Countries :
Europe and the Far East.
Subject
has a workforce of 8 employees.
FINANCIAL HIGHLIGHTS
Subject
is a newly formed business and as a result financial information is not
currently available.
BANKERS
·
Housing
& Development Bank
12 Syria Street
Mohandessin
Giza
Cairo
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Investigations
undertaken in Qulybiyah did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum
suggested credit figure: US$ 60,000
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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