MIRA
INFORM REPORT
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Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
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Name : |
EL MALEKA FOR SPARE IMPORTATION |
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Registered Office : |
43B El
Hamdy Street, El Zaher, Cairo, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1991 |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer and Distributors of agricultural machinery, pumps and related spare parts. |
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$
120,000 |
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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 MALEKA FOR SPARE IMPORTATION |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
1991 |
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Invested Capital |
£E 250,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of agricultural machinery, pumps and related spare parts. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
EL
MALEKA FOR SPARE IMPORTATION
ADDRESS
Registered & Physical Address
Street : 43B El Hamdy Street
Area : El Zaher
Town : Cairo
Country : Egypt
Telephone : (20-2) 4856280
Facsimile : (20-2) 5910365
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
·
Tadross
Zaki Hana Proprietor
& General Manager
·
Mohsen
Zaki Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : £E 250,000
Mr
Tadross Zaki Hana 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 agricultural machinery, pumps and related spare
parts.
Import
Countries :
Europe and the United States of America.
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 4,100,000 £E
4,600,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Banque
du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction November
2005
Credit
amount 100,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Established
in 1991, subject is owned and managed by Mr Tadross Zaki Hana who is well
respected in the local business community.
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.
Maximum
suggested credit figure: US$ 120,000
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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