MIRA
INFORM REPORT
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Report Date : |
23rd
February, 2007 |
IDENTIFICATION
DETAILS
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Name : |
EL MARWA FOR ENGINEERING AND TRADING CO |
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Registered Office : |
6 El Saygh Street, Kolaly, Azbakeya, Daher, Cairo,
Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
2000 |
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Legal Form : |
Sharikat
Tadhamun (General Partnership) |
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Line of Business : |
Engaged in the import and distribution of agricultural machines,
such as tractors, insecticide spraying equipment and soil ploughing
equipment. |
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 |
EL MARWA FOR ENGINEERING AND TRADING CO |
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Country
of Origin |
Egypt |
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Legal
Form |
General Partnership |
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Registration
Date |
2000 |
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Partners
Capital |
£E 100,000 |
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Total
Workforce |
5 |
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Line
of Business |
Import and distribution of agricultural machines |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
EL MARWA
FOR ENGINEERING AND TRADING CO
ADDRESS
Registered & Physical Address
Street : 6 El
Saygh Street
Area : Kolaly,
Azbakeya, Daher
Town : Cairo
Country : Egypt
Telephone : (20-2) 5779814
Facsimile : (20-2) 5786322
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Suburban Business Area of Cairo.
KEY PRINCIPALS
· Samir Fahmy Managing
Partner
· Tamer Samir Fahmy Partner
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form : Sharikat Tadhamun (General Partnership)
Partners
Capital : £E 100,000
Name of Partner (s)
· Samir Fahmy
· Tamer Samir Fahmy
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations
: Engaged in the import and distribution of agricultural
machines, such as tractors, insecticide spraying equipment and soil ploughing
equipment.
Import
Countries : China, India, and Italy.
Operating
Trend : Steady
Subject
has a workforce of 5 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
3,800,000 £E
4,120,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab
Banking Corporation
PO Box: 781
Cairo
Tel :
(20-2) 5745488 / 5780417
Fax :
(20-2) 5780416
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
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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