MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
AL HASSAN FOR IMPORT AND EXPORT |
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Registered Office : |
17
Lebanon Street, Mohandessin, Cairo, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
763109, Giza |
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Legal Form : |
Mouassasa
Khassa (Sole Proprietorship) |
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Line of Business : |
Engaged
in the import and distribution of general foodstuff products and household
appliances. |
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
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Company
Name |
AL HASSAN FOR IMPORT AND EXPORT |
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Country
of Origin |
Egypt |
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Legal
Form |
Sole Proprietorship |
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Registration
Date |
1991 |
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Commercial
Registration Number |
763109, Giza |
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Invested
Capital |
£E 50,000 |
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Total
Workforce |
4 |
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Line
of Business |
Distributors of general foodstuff products and household appliances. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
AL
HASSAN FOR IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Street : 17 Lebanon Street
Area :
Mohandessin
Town : Cairo
Country : Egypt
Telephone : (20-2) 3445823
Facsimile : (20-2) 3922113
Mobile : (20-10) 6610199
Email : hassancomp@hotmail.com
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
· Ahmed Hassan Abdullah Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 763109, Giza
Invested
Capital : £E 50,000
Mr Ahmed
Hassan Abdullah 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 household appliances.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 4 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
4,050,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
National
Bank of Egypt
24 Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000:
Established
in 1991, subject is involved in the import and distribution of general
foodstuff products and household appliances.
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 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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