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MIRA
INFORM REPORT
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Report Date : |
17.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
SALAH EL DEEN EL
SAYED DRAHIM (NADEX) |
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Registered Office : |
Drahim Building,
151 Saad Zagloul Street, El Bahar, Damietta |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2002 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SALAH EL DEEN EL SAYED DRAHIM (NADEX)
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2002
Invested Capital : £E 50,000
Total Workforce : 6
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SALAH EL DEEN EL SAYED
DRAHIM (NADEX)
ADDRESS
Registered & Physical Address
Building : Drahim Building
Street : 151 Saad Zagloul Street
Area : El Bahar
Town : Damietta
Country : Egypt
Telephone : (20-57) 354570 / 340504
Facsimile : (20-57) 374166
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Damietta.
KEY PRINCIPALS
·
Salah El
Deen El Sayed Drahim Proprietor
& General Manager
·
Karim Zahra Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: £E 50,000
Mr Salah El Deen El Sayed Drahim 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 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Egyptian
Pound (£E)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
Total Revenue £E 4,185,000 £E
4,360,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
United Bank of
Egypt
106 Kasr El Eini Street
Garden City
Cairo
Tel
: (20-2) 7920146
Fax
: (20-2) 7920153
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in
2002, subject is owned and managed by Mr Salah
El Deen El Sayed Drahim 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 and the above credit figure is
deemed to be 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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)