MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
AL
NAHRAIN FOR FOOD PRODUCTS |
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Registered Office : |
11
Wadi El Nile Street, El Maadi, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
2001 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products and beverages,
including rice, lentils and other dried foods. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL NAHRAIN FOR FOOD PRODUCTS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2001
Invested Capital : £E 100,000
Total Workforce : 6
Line of Business : Distributors of general foodstuff products and
beverages.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL
NAHRAIN FOR FOOD PRODUCTS
ADDRESS
Registered & Physical Address
Street : 11 Wadi El Nile Street
Area : El Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 3807193 / 3585799
Facsimile : (20-2) 3592934
Email : nahrain@rite.com
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
· Ahmed Abdulwahab El Sayed Proprietor
& General Manager
· Ahmed Al Tawansi Assistant
General Manager
· Samer Adel Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2001
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : £E 100,000
Mr Ahmed
Abdulwahab El Sayed 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 general foodstuff products and beverages, including
rice, lentils and other dried foods.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Egyptian Pound (£E)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total Revenue £E 3,800,000 £E
4,150,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Egyptian
Saudi Finance Bank
12 Ettehad El Mohamien El Arab Street
Garden City
Cairo
Tel : (20-2) 7947112
Fax : (20-2) 7949641
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of U$ 100,000:
Established
in 2001, subject is owned and managed by Mr Ahmed Abdulwahab El Sayed who is
well respected in the local business community.
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 business is considered to be a fair trade risk and the above credit figure
is deemed to be within subject’s financial means.
Maximum
suggested credit figure of: 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/normal. |
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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