MIRA
INFORM REPORT
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Report Date : |
27.04.2007 |
IDENTIFICATION
DETAILS
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Name : |
HASSAN EL SAYED
MAHMOUD |
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Registered Office : |
6 October Street,
Nabrawa, Mansoura |
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Country : |
Egypt |
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Date of Incorporation : |
January 2007 |
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Com. Reg. No.: |
71112, Mansoura |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of sanitary ware products and related fittings. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 20,000 |
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Status : |
New Concern |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : HASSAN EL SAYED MAHMOUD
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : January 2007
Commercial Registration Number : 71112, Mansoura
Invested Capital : £E 50,000
Total Workforce : 5
Line of Business : Distributors of sanitary ware products and related fittings.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
HASSAN EL SAYED
MAHMOUD
ADDRESS
Registered & Physical Address
Street : 6 October Street
Area : Nabrawa
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2402116
Facsimile : (20-50) 2405388
Mobile : (20-12) 2669208
Premises
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Central Business Area of Mansoura.
KEY PRINCIPALS
·
Hassan El Sayed
Mahmoud Ramdan Proprietor &
General Manager
LEGAL FORM &
OWNERS
Date of Establishment : January 2007
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 71112,
Mansoura
Invested Capital
: £E 50,000
Mr Hassan El Sayed Mahmoud Ramdan 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
sanitary ware products and related fittings.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
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Al Watany Bank
of Egypt
3 El Falafi Street
Mansoura
Tel
: (20-50) 2239208
Fax
: (20-50) 2239215
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Investigations
undertaken in Mansoura did not reveal any sign of payment defaults or delays during
initial trading stages, and subject is believed to meet its payment obligations
in a timely manner, nevertheless, and in view of the company’s infancy and the
lack of a more consistent payment and financial record, a measure of caution is
advisable and a close monitoring of subject’s business development is
recommended.
Maximum suggested
credit figure: US$ 20,000
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%)