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MIRA
INFORM REPORT
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Report Date : |
22nd
November, 2006 |
IDENTIFICATION
DETAILS
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Correct Name : |
MOHAMED YOUSSIF METWALLY (METCO LTD) |
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Registered Office : |
Sultan
Mahmoud Street, El Sharq Area, PO Box: 126, Port Said, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
15.04.1990 |
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Com. Reg. No.: |
26989, Port Said |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Importer and exporter of general merchandise. |
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 |
MOHAMED YOUSSIF METWALLY (METCO LTD) |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
15th April 1990 |
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Commercial Registration Number |
26989, Port Said |
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Invested Capital |
£E 100,000 |
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Total Workforce |
8 |
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Line of Business |
Import and export 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
MOHAMED
YOUSSIF METWALLY (METCO LTD)
ADDRESS
Registered & Physical Address
Street : Sultan Mahmoud Street
Area : El Sharq Area
PO Box : 126
Town : Port Said
Country : Egypt
Telephone : (20-66) 3322525
Facsimile : (20-66) 3322525
Mobile : (20-12) 2187694
Premises
Subject
operates from a small suite of offices that are rented and located in the
Suburban Business Area of Port Said.
KEY PRINCIPALS
·
Mohamed
Youssif Metwally Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 15th April 1990
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 26989, Port Said
Invested
Capital : £E 100,000
Mr
Mohamed Youssif Metwally 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 export of general merchandise.
Import
Countries :
India, China and Taiwan.
Operating
Trend : Steady
Subject
has a workforce of 8 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
4,080,000 £E
4,200,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Port
Said National Bank for Development
El Negalah & Orabi Street
El Sharq
Port Said
Tel :
(20-66) 237602 / 237603
Fax :
(20-66) 237601
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction June
2004
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
Opinion
on the credit figure of US$ 100,000
Established
in 1990, Mohamed Youssif Metwally (Metco Ltd) is a small business owned by Mr
Mohamed Youssif Metwally, engaged in the import and export of general
merchandise.
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 and the above credit
figure is 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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