MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
EL MASRIA CO FOR TRADING & AGENCIES |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1993 |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged
as retailers and commercial agencies dealing in domestic electrical appliances,
specializing refrigerators and freezers. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 300,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL MASRIA CO FOR TRADING & AGENCIES
Country of Origin :
Legal Form : General Partnership
Registration Date : 1993
Partners Capital : £E 120,000
Total Workforce : 60
Line of Business :
Retailers and commercial agencies dealing in
domestic electrical appliances.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL MASRIA CO FOR TRADING & AGENCIES
ADDRESS
Registered & Physical Address
Street : 18
Abd El Aziz Street
Area : El
Attaba
PO Box : 1680
Town :
Country : Egypt
Telephone : (20-2) 3910043
/ 3915399
Facsimile : (20-2) 3910625
Email : helal.eg@link.net
Premises
Subject operates
from a medium sized suite of offices, a warehouse and a showroom that are
rented and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
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45 Abd El Aziz Street Rented
showroom premises
Attaba
Cairo
Tel: (20-2)
3950715
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2 Serbakes Street Rented
showroom premises
Darb Saada, Attaba
Cairo
Tel: (20-2) 5118979 / 5118978
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4 Hamam El Talat Street Rented
showroom premises
Mousky,
Attaba
Cairo
Tel: (20-2) 5922517
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Shop No. 8, 8th Area Market, 6th District Rented showroom premises
Sixth of October City
Tel: (20-2) 8339489
KEY PRINCIPALS
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Gomaa Said Helal Managing
Partner
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Mohamed Helal Partner
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Omar
Said Helal Partner
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Maha Abd El Moneim Mahrous Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1993
Legal Form :
Sharikat Tadhamun (General
Partnership)
Import Reg. No. : 12463
Tax Card No. : 100-329-784
Partners Capital : £E 120,000
Name of Partner (s)
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Gomaa Said Helal
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Mohamed Helal
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Omar
Said Helal
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged as
retailers and commercial agencies dealing in domestic electrical appliances,
specializing refrigerators and freezers.
Import Countries
: Poland,
Czech Republic, Turkey, China, and India.
Operating Trend
: Steady
Subject has a
workforce of 60 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 22,800,000 £E 24,380,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank of
Heliopolis Branch
Cairo
Tel: (20-2)
6332958 / 6351980 / 2417294
Fax: (20-2)
6381604
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Societe
Arabe Internationale de Banque
56 Gamaet El Dewal El Arabia Street
Mohandessin, Giza
Cairo
Tel: (20-2) 37499463
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
El Masria Co For Trading & Agencies was established in
1993 and is engaged as retailers and commercial agencies dealing in domestic
electrical appliances.
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 and the above credit figure is within subject’s
financial means.
Maximum suggested
credit figure: US$ 300,000
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%)