MIRA
INFORM REPORT
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Report Date : |
06.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
NORTH AMERICA
TRADE & IMPORTS |
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Registered Office : |
24 El Harby
Street, Al Aasar, Damietta |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
20th December 1999 |
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Com. Reg. No.: |
48227, Damietta |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of textiles, fabrics and linens. |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : NORTH AMERICA TRADE & IMPORTS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 20th December 1999
Commercial Registration Number : 48227, Damietta
Invested Capital : £E 200,000
Total Workforce : 11
Line of Business : Distributors of textiles, fabrics and linens.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NORTH AMERICA TRADE
& IMPORTS
ADDRESS
Registered & Physical Address
Street : 24 El Harby Street
Area : Al Aasar
Town : Damietta
Country : Egypt
Telephone : (20-57) 358944
Facsimile : (20-57) 337479
Email : domyat@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Damietta.
KEY PRINCIPALS
·
Mohamed
Mohamed El Kazaz Proprietor
& General Manager
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Mahmoud Ismail Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 20th
December 1999
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 48227, Damietta
Invested Capital
: £E 200,000
Mr Mohamed Mohamed
El Kazaz 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
textiles, fabrics and linens.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 11 employees.
FINANCIAL HIGHLIGHTS
Financial highlights
provided by outside sources are given below :
Currency : Egyptian
Pound (£E)
Year Ending
31/12/05: Year
Ending 31/12/06:
Total Revenue £E 5,490,000 £E
5,750,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Housing
Development Bank
12 Syria Street
Cairo
Tel: (20-2) 7492013
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in 1999,
subject is owned and managed by Mr Mohamed Mohamed El Kazaz who is well
respected in the local business community.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk and
the above credit figure is deemed admissible.
Maximum suggested
credit figure: US$ 100,000
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. |
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%)