MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
MADINA EL MENAWARA FOR IMPORT & EXPORT CO |
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Registered Office : |
4 Ibn Hanbl Street (Off Mahmoud Fahmy El Noqrashy Street), El
Manshia, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the import and distribution of confectionery raw
materials whipped chocolate powder and bars. |
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 :
MADINA EL MENAWARA FOR IMPORT &
EXPORT CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1991
Issued Capital : £E 1,500,000
Paid up Capital : £E 1,500,000
Total Workforce : 11
Line of Business : Import
and distribution of confectionery raw
materials and chocolate.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MADINA EL MENAWARA FOR IMPORT & EXPORT CO
ADDRESS
Registered & Physical Address
Street : 4 Ibn
Hanbl Street (Off Mahmoud Fahmy El Noqrashy Street)
Area : El
Manshia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4804226
/ 4813691 / 4813641
Facsimile : (20-3) 4842635
Email : el-madina-el-menawara@hotmail.com
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Alexandria.
KEY PRINCIPALS
· Mohamed Ahmed Moussa Managing
Partner
· Ali Ahmed Moussa Partner
· Mahmoud Ahmed Moussa Partner
· Moustafa Ahmed Moussa Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1991
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Issued
Capital : £E 1,500,000
Paid
up Capital : £E 1,500,000
Name of Partner (s)
· Mohamed Ahmed Moussa
· Ali Ahmed Moussa
· Mahmoud Ahmed Moussa
· Moustafa Ahmed Moussa
LINE OF BUSINESS
Operations
: Engaged in the import and distribution of confectionery raw
materials whipped chocolate powder and bars.
Import
Countries : Indonesia, Belgium, Netherlands, United States of America,
Syria, Turkey, China, and Saudi Arabia.
Operating
Trend : Steady
Subject
has a workforce of 11 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
5,800,000 £E
6,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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HSBC Egypt
47 El Sultan Hussain Street
Azarita
Alexandria
Tel: (20-3) 4872949
Fax: (20-3) 4872925
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Commercial
International Bank (CIB)
61 Sultan Hussein Street
Alexandria
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
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National
Bank of Abu Dhabi
28 Salah Salem Street
Alexandria
Tel: (20-3) 4829175
Fax: (20-3) 4847114
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction June 2006
Credit
amount 100,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
Madina El Menawara For Import & Export Co
has been trading for 15 years and specialises in the import and
distribution of confectionery raw materials and chocolate.
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 company is considered to be a fair trade risk and the above credit
figure is within subject’s financial means.
Maximum
suggested credit figure: 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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