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MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
ALEXANDRIA
COMPANY FOR TRADING AND CHEMICAL INDUSTRIES
(CHEMTRADE) |
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Registered Office : |
Ismail
Sery Street, Smouha, P O Box 6, Alexandria 21311 |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1989 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged
in the import and distribution of chemicals and colour materials for the
paper and stationery industries. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : ALEXANDRIA COMPANY FOR TRADING AND
CHEMICAL INDUSTRIES (CHEMTRADE)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1989
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 15
Line of Business : Distributors of chemicals and colour materials for the paper and
stationery industries.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ALEXANDRIA
COMPANY FOR TRADING AND CHEMICAL INDUSTRIES (CHEMTRADE)
ADDRESS
Registered & Physical Address
Street : Ismail Sery Street
Area : Smouha
PO Box : 6
Town : Alexandria 21311
Country : Egypt
Telephone : (20-3) 4279448
Facsimile : (20-3) 4264980
Email : chemtrade@chemtrade.com.eg
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
· Karim Bakri Abu Egelaa Managing
Partner
· Bakri Abu Egelaa Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1989
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Issued
Capital : £E 250,000
Paid
up Capital : £E 250,000
Name of Partner (s)
· Karim Bakri Abu Egelaa
· Bakri Abu Egelaa
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of chemicals and colour materials for the paper and
stationery industries.
Import
Countries :
Europe and the Far East.
Agencies
Held :
· BOUCMAN
· CORARI
Operating
Trend : Steady
Subject
has a workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency
: Egyptian Pounds (£E)
Year
Ending 31/12/04 : Year
Ending 31/12/05 :
Total
Revenue £E
6,400,000 £E
6,700,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Export
Development Bank of Egypt
16 Syria Street
Roushdi
Alexandria
Tel
: (20-3) 5450018
Fax
: (20-3) 5450009
Acc No. HU 97 11100104 13211640 7000000 A/C
2331/2
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 1989, subject is involved in the import and distribution of chemicals and
colour materials for the paper and stationery industries.
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/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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