MIRA
INFORM REPORT
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Report Date : |
13.02.2007 |
IDENTIFICATION
DETAILS
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Name : |
MONIRCO
CO |
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Registered Office : |
38
Abdel Fihay Hegazy Street, Nasr City, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1977 |
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Com. Reg. No.: |
32144 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged
in the manufacture of automotive spare parts and accessories, including
gaskets and filters. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
400,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MONIRCO CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1977
Commercial Registration Number : 32144, Cairo
Industrial Licence Number : 24604
Issued Capital : £E 2,500,000
Paid up Capital : £E 2,500,000
Total Workforce : 150
Line of Business : Manufacturers of automotive spare parts and accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MONIRCO
CO
ADDRESS
Registered & Physical Address
Street : 38 Abdel Fihay Hegazy Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 5760545
Facsimile : (20-2) 5760545
Premises
Subject
operates from a small suite of offices that are owned and located in the
Central Business Area of Cairo.
Branch Offices
Location Description
· 18 El Borsa Street Office
premises
Cairo
Tel
: (20-2) 5754922
· 10th of Ramadan City Factory
premises
Tel : (20-15) 413151
KEY PRINCIPALS
· Tariq Munir Kamel Managing
Partner
· Pierre Tariq Munir Kamel Partner
LEGAL FORM &
OWNERS
Date of Establishment : 1977
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 32144, Cairo
Industrial Licence No. : 24604
Issued
Capital : £E 2,500,000
Paid
up Capital : £E 2,500,000
Name of Partner (s)
· Tariq Munir Kamel
· Pierre Tariq Munir Kamel
LINE OF BUSINESS
Operations
: Engaged in the
manufacture of automotive spare parts and accessories, including gaskets and
filters.
Import
Countries :
Europe and the United States of America.
Operating
Trend : Steady
Subject
has a workforce of 150 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
24,500,000 £E
27,800,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Banque
Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established in 1977, subject is owned and managed by Mr Tariq Munir
Kamel and Mr Pierre Tariq Munir Kamel who are both well respected in the local
business community.
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$ 400,000
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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