MIRA
INFORM REPORT
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Report Date : |
25.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
KOBAA TRADING
& MARKETING CO |
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Registered Office : |
6 Talaat Harb
Street, Ramleh, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
135798, Alexandria |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of building materials and supplies, construction equipment & requirements, pipes, pumps and housing articles, glasses, chandeliers, pipes, valves and fittings, as well as earth-moving and road making machinery and equipment. |
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$ 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : KOBAA TRADING & MARKETING CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1993
Commercial Registration Number : 135798, Alexandria
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 40
Line of Business : Building and construction materials and equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KOBAA TRADING &
MARKETING CO
ADDRESS
Registered & Physical Address
Street : 6 Talaat Harb Street
Area : Ramleh
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4854070 / 4843080 / 4847709
Facsimile : (20-3) 4843080 / 4849464
Mobile : (20-12) 3232783
Email : kobaa777@inetalex.com
Premises
Subject operates
from a medium sized suite of offices and storage facilities that are rented and
located in the Central Business Area of Alexandria.
KEY PRINCIPALS
·
Kamel Younes Managing
Partner
·
Mohamed Moustafa Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1993
Legal Form :
Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 135798, Alexandria
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner (s)
·
Kamel Younes
·
Mohamed Moustafa
LINE OF BUSINESS
Operations : Engaged in the import and distribution of building materials and supplies, construction equipment & requirements, pipes, pumps and housing articles, glasses, chandeliers, pipes, valves and fittings, as well as earth-moving and road making machinery and equipment.
Import Countries
: Germany, Romania,
Turkey, United Kingdom, Spain, and China.
International
Suppliers :
·
VAG Armaturen GmbH Germany
Operating Trend
: Steady
Subject has a
workforce of 40 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Egyptian
Pounds (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E 21,420,000 £E 21,950,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Societe Generale Bank
240 El Corniche Street
Rushdy, Ramleh
Alexandria
Tel: (20-3) 5452352 / 5430332
Fax: (20-3) 5455715
·
Banque Misr
El Hanoville Street
Agami
Alexandria
Tel: (20-3) 4302697
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction April 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$ 1,000,000:
Kobaa Trading &
Marketing Co has been in business for over a decade now and enjoys a good
reputation for the quality of its products. The company stocks a wide range of
building and construction materials and equipment.
During the course
of this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk.
However, the above
credit figure is higher than transactions previously seen and a measure of
caution would be prudent given the magnitude of the transaction.
Maximum suggested
credit figure: US$ 200,000
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%)