MIRA
INFORM REPORT
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Report Date : |
18.11.2006 |
IDENTIFICATION
DETAILS
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Name : |
ECHOUROUK
IMPORT EXPORT |
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Registered Office : |
33
Ennasser Street, El Menchia, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Import
and distribution of general 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 : |
Usually
correct |
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Litigation : |
Clear |
SUMMARY
Company Name : ECHOUROUK IMPORT EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1996
Invested Capital : £E 50,000
Total Workforce : 4
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ECHOUROUK
IMPORT EXPORT
ADDRESS
Registered & Physical
Address
Street : 33 Ennasser Street
Area : El Menchia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4840645
Facsimile : (20-3) 4840645
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Alexandria.
KEY PRINCIPALS
·
Mohamed
Abbasiri Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : £E 50,000
Mr
Mohamed Abbasiri 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 general foodstuff products.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 4 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 3,280,000 £E
3,450,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Misr
International Bank (MIBANK)
33 Safia Zaghloul Street
Raml Station
Alexandria
Tel : (20-3) 4828174 / 4828213
Fax
: (20-3) 4838216
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1996, subject is owned and managed by Mr Mohamed Abbasiri who is well
respected in the local business community.
Local
sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
Maximum
suggested credit figure of: 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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