MIRA
INFORM REPORT
|
Report Date : |
02.08.2007 |
IDENTIFICATION DETAILS
|
Name : |
MEDITERRANEAN CHEMICALS & SUPPLIES LTD |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Financials (as on) : |
31.12.2006 |
|
|
|
|
Date of Incorporation : |
1985 |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Engaged
in the import, distribution and marketing of plastic and foam manufacturing machinery. |
RATING & COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 150,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
Regular |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : MEDITERRANEAN CHEMICALS & SUPPLIES LTD
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1985
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 10
Line of Business :
Import, distribution and marketing of plastic and
foam manufacturing machinery.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MEDITERRANEAN CHEMICALS & SUPPLIES LTD
ADDRESS
Registered & Physical Address
Street : 11
Hassan Allam Street
Area : El Merghany,
Heliopolis
Town :
Country : Egypt
Telephone : (20-2) 24142384
/ 24142339
Facsimile : (20-2) 24142267
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
·
Sherif El Ashram Managing
Partner
·
Ahmed Malek General
Manager
·
Amin Ossman Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1985
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Partner (s)
·
Sherif El Ashram
·
Hazem Rizk
·
Mamdouh Aziz
AFFILIATED COMPANIES
·
Sochema for Trade
·
Sochema Libya
·
Sochema Sudan
·
Sofiplast
LINE OF BUSINESS
Operations : Engaged in the import,
distribution and marketing of plastic and foam manufacturing machinery.
Import Countries
:
Operating Trend
: Steady
Subject has a
workforce of 10 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 9,200,000 £E 9,650,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
·
Banque
du Caire Barclays Internationale SAE
12, Midan El Sheikh Youssef Street
Garden City
PO Box : 110, Maglis El Shaab
Cairo
Tel : (20-2) 3542195 / 3549415 / 3549422
Fax : (20-2) 3552746
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
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
company 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$ 150,000
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average/normal. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)