MIRA
INFORM REPORT
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Report Date : |
07.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
TARGET TRADE
CENTRE |
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Registered Office : |
4
Almaza Street, Off Al Thawara Street, Misr El Gedida, Heliopolis, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
359413, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of stationery and office products. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TARGET TRADE CENTRE
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2001
Commercial Registration Number : 359413, Cairo
Invested Capital : £E 50,000
Total Workforce : 5
Line of Business : Distributors of stationery and office products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
TARGET TRADE CENTRE
ADDRESS
Registered & Physical Address
Street : 4
Almaza Street, Off Al Thawara Street
Area : Misr El Gedida, Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 22902756
/ 22902303 / 22903979
Facsimile : (20-2) 22914160
Mobile : (20-10) 999975
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
KEY PRINCIPALS
·
Tariq
Mohamed Nabil Serio Proprietor
& General Manager
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Hossam
El Arabi Sales Manager
LEGAL FORM & OWNERS
Date of Establishment : 2001
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 359413, Cairo
Invested Capital
: £E 50,000
Mr Tariq Mohamed Nabil Serio 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.
AFFILIATED COMPANIES
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Sasco Plast Co
4 Almaza Street, Off Al Thawara Street
Misr El Gedida, Heliopolis
Cairo
Tel : (20-2) 22902756 / 22902303 / 22903979
Fax : (20-2) 22914160
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
stationery and office products.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 5 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 6,100,000 £E
6,380,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Egypt
24 Sherif Street
Cairo
Tel : (20-2) 23924175
Fax : (20-2) 23924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
2001, subject is owned and managed by Mr Tariq Mohamed
Nabil Serio who is well respected in the local business community.
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$ 150,000
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%)