MIRA
INFORM REPORT
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Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
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Name : |
EL MANAR TRADING
IMPORT & EXPORT |
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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 : |
1979 |
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Com. Reg. No.: |
20561, |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the
import and distribution of agricultural and horticultural products, including chemicals and
pesticides. |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL MANAR TRADING
IMPORT & EXPORT
Country of Origin :
Legal Form :
General Partnership
Registration Date : 1979
Commercial
Registration Number : 20561,
Partners Capital : £E
100,000
Total Workforce : 15
Line of Business :
Distributors of agricultural
and horticultural products.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL MANAR TRADING
IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street :
Area : Masaken El Sheraton,
Town :
Country :
Telephone : (20-2) 22673300
Facsimile : (20-2) 22673444
Premises
Subject operates from
a small suite of offices and a warehouse that are owned and located in the
Central Business Area of Cairo.
Branch Office (s)
Location Description
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Al Ismailia Office
premises
Tel : (20-64) 3470250
KEY PRINCIPALS
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Ahmed
Talal Mohamed Mukhtar Ayoub Managing
Partner
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Mamdouh
Yamani Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1979
Legal Form :
Sharikat Tadhamun (General
Partnership)
Commercial Reg. No. : 20561,
Partners Capital : £E 100,000
Name of Partner (s)
·
Ahmed
Talal Mohamed Mukhtar Ayoub
·
Mamdouh
Yamani
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 in the import and distribution of agricultural and horticultural products,
including chemicals and pesticides.
Import Countries
: Europe,
International
Suppliers :
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Tiger Inc
·
Cameron
Inc
Brand Names : BASF and BAYER.
Operating Trend
: Steady
Subject has a
workforce of 15 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 9,250,000 £E 9,510,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
International Bank (CIB)
PO Box : 2430
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1979, subject is involved in the import and distribution of agricultural and horticultural products,
including chemicals and pesticides.
Local sources report
that the subject’s operating history is clear with payment obligations met in a
generally timely manner. The financial position is satisfactory and the
business is deemed a fair trade risk.
Maximum suggested
credit figure: US$ 175,000
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%)