MIRA
INFORM REPORT
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Report Date : |
24.12.2007 |
IDENTIFICATION
DETAILS
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Name : |
El
Wakaea |
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Registered Office : |
Saadoun El Swehly Street,
Misurata |
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Country : |
Libya |
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Legal Form : |
Private Limited Company |
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Line of Business : |
Wholesale other non‑agri
machinery. Importer and wholesaler of all
kind of Electrical equipments (wires, lamps, other products related to the
field). |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Registration Briefing
Registration Number: 1668
Registration Date: 1995
Legal Form: PRIVATE LIMITED CO
Latest Financials: N/A
Financial Briefing
Nominal Capital: 1,000,000
Libyan Dinar
Issued Capital: 100,000
Libyan Dinar
Turnover: 14,500,000 Libyan Dinar
Net Profit: 1,450,000 Libyan Dinar
Net Worth: N/A
Rating Briefing
Current Recommended Credit: 180,283
EUR
Former Recommended Credit: N/A
Rating Trend: POSITIVE
Payment Record: NO COMPLAINTS
Original Investigation Details
Company Name: EL WAKAEA
Country: LI
Street Name: LIBYA SADUN ALSWEHLI STR
MISURATA
City Code:
Phone Number: 218 51628315
Fax Number: 218 51612390
Company Details
Company Name: El Wakaea
Headquarter Address: Saadoun El Swehly Street,
Misurata,
Libya
Telephone: +21851 2624567
+21851 2628315
+21892 4787894
Fax: +21851 2612390
E‑Mail: suliman68@yahoo.co.uk
Company was originally started
on 1995
Registration & Legal Details
Current Legal Form: PRIVATE LIMITED
CO
Registration Address: Saadoun El Swehly
Street,
Misurata
Registration Number: 1668
Registration Date: 1995
Year/Date Company Established: 1995
Registration Town: Misurata
Tax Registration Number: 290/2
Capital
Currency: Libyan Dinar
Nominal Capital: 1,000,000
Issued Capital: 100,000
Paid Up Capital: All
Shareholders
Shareholders:
Name/Address Shares
Held % of
Voting/Non‑Voting capital
Mr. Sulaiman Al Taher Ahmed
Eissa
(Principal Shareholder),
Libya
Mr. Ahmed El Taher Ahmed Eissa,
Holds balance of shares
Libya
Mr. Nouri Hussein Ahmed El
Motreidi, Holds balance of shares
Libya
Mr. Farag Saad Saleh, Holds balance of shares
Libya
Mr. Ahmed Saad Saleh, Holds balance of shares
Libya
Mr. Ahmed Hussein El‑Owaieb,
Holds balance of shares
Libya
Mr. Ali Abd El Qader El Owaieb,
Holds balance of shares
Libya
Mr. Abd Allah Mahmoud El
Owaieb, Holds balance of shares
Libya
Mr. Gamal Abd EL Hamid El
Owaieb, Holds balance of shares
Libya
Mr. Amohamed Salem Amohamed, Holds balance of shares
Libya
Principals
Name: Mr Sulaiman Eissa
Position within the company: Chairman
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Nouri El Motreidi
Position within the company: Vice‑chairman
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Ali Abd El‑Qader
El‑Owaied
Position within the company: Branch Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Ahmed El‑Taher
Eissa
Position within the company: Branch Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Abdullah El‑Owaieb
Position within the company: Branch Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Jamal El‑Owaieb
Position within the company: Branch Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Ahmed El‑Owaieb
Position within the company: Branch Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Ibrahim Mahmoud Kadry
Position within the company: Assistant to Chairman
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Name: Mr Moustafa Abd El Hady
Position within the company: Accounting Manager
Country of Birth: Libya
Nationality: Libyan
Can fluently speak: English & Arabic
Education: Graduate University
Company Activities
NACE Codes: 5165 Wholesale other non‑agri
machinery ‑ 100%
The company is an importer and
wholesaler of all kind of Electrical equipments (wires, lamps, other products related
to the field).
The Company imports from China,
Italy, France, Tunisia & Malaysia.
The company doesn't export.
100% Importer.
100% Wholesaler.
Local Reporters consider the
investigated company to be MEDIUM in their field of concern.
Operations
Employees Company
Employs: 32
HQ Premises Operates
from: Rented Office
Location: Suburban Business Area, Main Road
Branches Al‑Tawargha
street,
Misurata,
Libya
Branch is: Owned
Description of branch: Showroom
These premises operate as: a
showroom
Al Mojamadat street,
Misurata,
Libya
Branch is: Owned
Description of branch: Showroom
These premises operate as: a
showroom
Souq El‑Thulatha,
Tripoli,
Libya
Branch is: Owned
Description of branch: Showroom
These premises operate as: a
showroom
Al‑Awajla,
Benghazi,
Libya
Branch is: Owned
Description of branch: Showroom
These premises operate as: a
showroom
El Khomos,
Libya
Branch is: Owned
Description of branch: Showroom
These premises operate as: a
showroom
Other Branches
Subject has numerous other
branches nationally.
Imports
Import % and type of product: 100% Finished Goods
Imports From: China, Italy,
France, Tunisia, Malaysia
Importing Terms: 60‑90 days credit,
cash against documents
Additional Information: The company also deals with
letters of credit.
Agencies
Tungsran ‑ General Electric Hungary Electrical
Lamps
Hager France Keys
Gewiss Italy Keys
Khind Malaysia Household appliances, electrical
equipment and keys.
Exports
Export % and type of product: Subject does not export
Trading & Selling
Territory: 100% Nationally
Type of Customer: General Public, Government Bodies,
wholesalers & retailers
Related Companies
Information on Related Companies
is not available/applicable
Bankers
Umma Bank,
Branch: Misurata Branch
Libya
Account Number: 52807
Currency: Libyan Dinar
Additional Information: Tel:+218‑21‑4442541
Fax:+218‑21‑4442476
Bank Of Commerce &
Development,
Branch: Misurata Branch.
Libya
Account Number: 729905
Currency: Libyan Dinar
Additional Information: Tel:+218‑61‑9080230
Fax:+218‑61‑9097115
Financial Information
Source: Mr. Moustafa Abd El Hady Accounting Manager
Figures are: Official Figures
Currency: Libyan Dinar
Months Sales Figures Sales Gross
Profit/Loss Net Profit/Loss
12 31/12/2007 15,000,000 (Projection) 1,500,000
(Projection)
11 30/11/2007 14,500,000.00 1,450,000
12 31/12/2006 12,000,000.00 1,200,000
12 31/12/2005 10,000,000.00 1,000,000
12 31/12/2004 8,000,000.00 800,000
Payments
Subject's payments reported to be: NO COMPLAINTS
Interview & Reporter Comments
Name/Title: Mr. Moustafa Abd El Hady Accounting Manager
Comment: Subject has confirmed the general details shown
in the report.
Subject has offered brief financial data only and refused
to provide full financial
information.
Reporter Comment: In the interview conducted with Mr.
Moustafa Abd El Hady, accounting manager, he
declined further financial information citing the grounds
of company confidentiality.
Company's shares are not freely transferable and are not
bought and sold on the
stock market.
Local company’s registry is inaccessible to inspect
subject's file, therefore, all the
information shown in the report is through a direct contact
with the subject you are
investigating.
Conclusions
Accounts Comments: Only Brief
Financial data has been obtained by the subject, our assessment and ratings are
therefore based on the reliability of the data obtained.
Local Reputation: The company
being investigated is considered by local reporters to be a Fair / Normal Trade
Risk.
General Conclusion: Local
informants consider granting of credit to be a fair trade risk.
Owner/Shareholders Comments: Some
of the owners / shareholders have an active participation in the running of the
business.
Financial Results Trend: Financial Information indicates that the
business activities of the company are showing an upward turn.
Age of Business: The company is
long established in the local market.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>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%)