MIRA
INFORM REPORT
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Report Date : |
07.08.007 |
IDENTIFICATION DETAILS
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Name : |
MISR COMPRESSOR MANUFACTURING COMPANY S.A.E. |
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Registered Office : |
2nd Industrial Zone, 2A, Sharkeya, |
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Country : |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
59948,
Sharkeya |
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Legal Form : |
Societe Anonyme Egyptienne – SAE (Egyptian
Joint Stock Company) |
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Line of Business : |
Engaged in the manufacture and assembly of compressors for
domestic refrigeration and refrigerator industries under license of |
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$100,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MISR COMPRESSOR MANUFACTURING CO SAE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1996
Commercial Registration Number : 59948, Sharkeya
Authorised Capital : £E 350,000,000
Issued Capital : £E 210,433,800
Paid up Capital : £E 210,433,800
Total Workforce : 750
Line of Business : Manufacture and assembly of compressors
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MISR COMPRESSOR MANUFACTURING CO SAE
ADDRESS
Registered & Physical Address
Location : 2nd
Industrial Zone, 2A, Sharkeya
PO Box : 1001
Town : Tenth of
Country :
Telephone : (20-15) 413322
/ 367676
Facsimile : (20-15) 413161
/ 413029
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of the Tenth of Ramadan City.
KEY PRINCIPALS
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Gamal Hassan Afifi Chairman
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Hussein Mitkeesh Managing
Director
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Tarek Hosny Director
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Mohamed Sfaa Amer Director
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Belal El Husseiny Abdallah Director
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Raouf Abd El Moneim Director
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Aly Taha Shahen Director
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Mahmoud Samaha Finance
Manager
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Hany Elwan Accounts
Manager
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Mamdouh Makram Production
Manager
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Ahmed Zein Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1996
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 59948, Sharkeya
Authorised
Capital : £E 350,000,000
Issued Capital : £E 210,433,800
Paid up Capital : £E 210,433,800
Name of Shareholder
(s) Percentage
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Dallah El Baraka Group 5.37%
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Saudi Egyptian Company for Industrial Investments 7.08%
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International Finance Corporation 10.58%
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Dallah International Holding 7.73%
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Egyptian Gulf Bank 3.33%
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National Bank of
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Delta Industry (Ideal) 2.38%
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Sofico for Economic Development 2.38%
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Misr
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Misr Insurance 1.19%
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Egyptian businessmen & private investors 11.08%
Note to the Legal Form
The Egyptian Company Law provides that the capital of a
Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares
are offered to the public and £E 250,000 if not. If shares are offered to the
public they are freely transferable, if not, transfer may be restricted.
Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the manufacture and assembly of compressors
for domestic refrigeration and refrigerator industries under license of
Import Countries
:
Subject has a
workforce of approximately 750 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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Suez
Canal Bank
PO Box : 2620
Tel : (20-2) 5769296
Fax : (20-2) 5322064
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Banque
Misr
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
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Arab
Bank Plc
PO Box: 68
Tel: (20-2) 3029069 / 3029070
Fax: (20-2) 3029068
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
within subject’s financial means.
Maximum suggested
credit figure: US$ 750,000
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%)