MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
EL
MANAR IMPORT & EXPORT |
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Registered Office : |
Suiss
Street, El Ismailia, Kntara |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1995 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the wholesale and retail of ready made garments, textiles and fabrics. |
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 : |
Usually
correct |
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Litigation : |
Clear |
SUMMARY
Company Name : EL MANAR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1995
Invested Capital : £E 100,000
Total Workforce : 5
Line of Business : Wholesalers and retailers of ready made garments,
textiles and fabrics.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL MANAR
IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : Suiss Street
Area : El Ismailia
Town : Kntara
Country : Egypt
Telephone : (20-64) 561593
Facsimile : (20-64) 561593
Mobile : (20-10) 5458140
Premises
Subject
operates from a small suite of offices and a showroom that are rented and
located in the Central Business Area of Kntara.
KEY PRINCIPALS
· Sayeed Osman Abdul Kazim Proprietor
& General Manager
· Ahmed Sulaiman Finance
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1995
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : £E 100,000
Mr
Sayeed Osman Abdul Kazim 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
wholesale and retail of ready made garments, textiles and fabrics.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 5 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 4,200,000 £E
4,300,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Misr
Iran Development Bank
8 Adly Street
Cairo 11511
Tel
: (20-2) 3919659
Fax
: (20-2) 3902297
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 1995, subject is involved in the wholesale and retail of ready made
garments, textiles and fabrics.
According
to local sources, subject’s financial condition is satisfactory whilst payments
are made in a timely manner. The company’s operating history is reportedly
clear and the above credit figure is considered 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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