MIRA
INFORM REPORT
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Report Date : |
18.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
MARINE EGYPT CO SAE |
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Registered Office : |
El
Douly El Sahly Road, Inside Edco Fishing Port, Edco, Bohera |
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Country : |
Egypt |
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Date of Incorporation : |
1998 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged
in the manufacture of fishing boats and yachts as well as marine engines and
equipment. |
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 : MARINE EGYPT CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 52
Line of Business :
Manufacture of fishing boats and yachts as well as
marine engines and equipment.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MARINE EGYPT CO SAE
ADDRESS
Registered & Physical Address
Street : El
Douly El Sahly Road
Area : Inside
Edco Fishing Port, Edco
Town : Bohera
Country : Egypt
Telephone : (20-45) 952550
Facsimile : (20-45) 952441
Mobile : (20-10) 5440434
Email : info@marine-egypt.com.eg
Premises
Subject operates
from a suite of offices and a fabrication yard covering an area of 10,000
square metres that are owned and located in the of Port Area.
Branch Office (s)
Location Description
·
114
Magles El Shaab Street Rented
office premises
Cairo
Tel: (20-2) 3908848
Fax: (20-2)
3908848
KEY PRINCIPALS
·
Sadek
Sharaby Managing
Director
·
Asaad
Abd El Hai Ibrahim Director
·
Ahmad Hassan Marketing
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Name of Shareholder (s)
·
Sadek
Sharaby
·
Asaad
Abd El Hai Ibrahim
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 of fishing boats and yachts as well as marine engines and
equipment.
Import Countries
: India and Europe.
Subject has a
workforce of 52 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Egypt are not legally required to make their accounts public and no
financial information was released by the company or submitted by outside
sources.
BANKERS
·
Arab International Bank (AIB)
60
Mohamed Hassan Helmi
Mohandessin
Cairo
Tel: (20-2) 3029647
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
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$ 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%)