MIRA
INFORM REPORT
|
Report Date : |
14th
November, 2006 |
IDENTIFICATION
DETAILS
|
Name : |
REDA FOR INVESTMENT & COMMERCIAL
DEVELOPMENT |
|
|
|
|
Registered Office : |
10 Ali Reda Street, Ibn Hakam Square, Helmiet El Zeitoun, El
Matariya, Cairo, Egypt |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
1991 |
|
|
|
|
Com. Reg. No.: |
1834, Cairo |
|
|
|
|
Legal Form : |
Societe Anonyme Egyptienne –
SAE (Egyptian Joint Stock Company) |
|
|
|
|
Line of Business : |
Importer
and Distributor of automotive spare parts
specialising in Peugeot, Citroen and Renault brands. |
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$
100,000 |
|
|
|
|
Status : |
Satisfactory
|
|
|
|
|
Payment Behaviour : |
Regular
|
|
|
|
|
Litigation : |
Clear |
SUMMARY
|
Company Name |
REDA FOR INVESTMENT & COMMERCIAL DEVELOPMENT |
|
Country of Origin |
Egypt |
|
Legal Form |
Egyptian Joint Stock Company |
|
Registration Date |
1991 |
|
Commercial Registration Number |
1834, Cairo |
|
Issued Capital |
£E 1,000,000 |
|
Paid up Capital |
£E 1,000,000 |
|
Total Workforce |
10 |
|
Line of Business |
Import and distribution of automotive spare parts |
|
Financial Condition |
Fair |
|
Payments |
Nothing detrimental uncovered |
|
Operating Trend |
Steady |
COMPANY NAME
REDA FOR
INVESTMENT & COMMERCIAL DEVELOPMENT
ADDRESS
Registered & Physical Address
Street : 10
Ali Reda Street
Area : Ibn
Hakam Square, Helmiet El Zeitoun, El Matariya
Town : Cairo
Country : Egypt
Telephone : (20-2) 6393625
Facsimile : (20-2) 2411061
Email : elrada_co_inv2003@hotmail.com
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
89 Port Said Street Rented
showroom premises
Amireya, Hadayek El Qobba
Cairo
Tel: (20-2) 2574333
·
25 Damascus Street Rented
showroom premises
Roxy,
Heliopolis
Cairo
Tel: (20-2)
4553953
KEY PRINCIPALS
·
Ashmawy Sadek Ashmawy Managing
Director
·
Safwat Ashmawy Director
·
Ragaa Rizk Youssef Director
·
Mohamed Abd El Tawab Finance
Manager
·
Shaimaa Mohamed Abd El Tawab Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Societe Anonyme Egyptienne – SAE (Egyptian Joint Stock
Company)
Commercial Reg. No. : 1834, Cairo
Issued
Capital : £E 1,000,000
Paid
up Capital : £E 1,000,000
Name of Shareholder (s)
·
Ashmawy Sadek Ashmawy
·
Safwat Ashmawy
·
Ragaa Rizk Youssef
Note to the Legal Form
The Egyptian Company Law provides that the
capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E
500,000 if shares are offered to the public and £E 250,000 if not. If shares
are offered to the public they are freely transferable, if not, transfer may be
restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations
: Engaged in the import and distribution of automotive spare
parts specialising in Peugeot, Citroen and Renault brands.
Import
Countries : France, Spain, Germany and India.
Operating
Trend : Steady
Subject
has a workforce of 10 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
3,800,000 £E
4,290,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Islamic
International Bank for Investment & Development
4 Addi Street
Dokki, Giza
Cairo
Tel: (20-2) 7489973
Fax: (20-2) 3498501
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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 company is considered to be a fair trade risk.
Maximum
suggested credit figure: US$ 100,000
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 |
|