MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
FIRST T D CO SAE |
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Registered Office : |
Shak El Soaban Road, Torah
Industrial Zone, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
1355, Cairo |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject operates
three quarries and two factories producing marble and granite tiles, block
and slabs. |
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 : FIRST T D CO SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1998
Commercial Registration Number : 1355, Cairo
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Total Workforce : 120
Line of Business : Producers of marble and granite tiles, block and slabs.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
FIRST T D CO SAE
ADDRESS
Registered & Physical Address
Street : Shak El Soaban Road
Area : Torah Industrial Zone
Town : Cairo
Country : Egypt
Telephone : (20-2) 29700624
Facsimile : (20-2) 29700697
Mobile : (20-10) 1621772
Email : info@fisrt-abughodaia.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Cairo.
KEY PRINCIPALS
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Emad Eddine Abu Ghodaia Mohamed Mansour Chairman
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Magdy Abu Ghodaia Mohamed Mansour Managing
Director
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Mohaab Emad Eddine Abu Ghodaia Mohamed Mansour Director
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Hussain El Shorbagy Export
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Societe Anonyme Egyptienne
- SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 1355, Cairo
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Name of Shareholder (s)
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Emad Eddine Abu Ghodaia Mohamed Mansour
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Magdy Abu Ghodaia Mohamed Mansour
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Mohaab Emad Eddine Abu Ghodaia Mohamed Mansour
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 : Subject operates three quarries and two
factories producing marble and granite tiles, block and slabs.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 120 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
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Suez Canal
Bank
PO Box : 2620
Cairo
Tel : (20-2) 5769296
Fax : (20-2) 5322064
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 150,000:
Established in
1998, subject is involved in the production of marble and granite tiles, block
and slabs.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be 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%)