MIRA
INFORM REPORT
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Report Date : |
3rd
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
MOHAMED AND MAGDY EL SAEED AWAD EL AMRITY |
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Registered Office : |
El
Saeed Al Amrity Building, 15/11 Hosni Mubarak Street, El Mashaya El Sofiya,
Mansoura, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
28.01.2006 |
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Com. Reg. No.: |
111639, Mansoura |
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Legal Form : |
Sharikat
Tadhamun Bill Asshum (Limited Liability Partnership) |
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Line of Business : |
Importer
and Distributor of general merchandise. |
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 |
MOHAMED AND MAGDY EL SAEED AWAD EL AMRITY |
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Country
of Origin |
Egypt |
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Legal
Form |
Limited Liability Partnership |
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Start
Date |
1992 |
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Registration
Date |
28th January 2006 |
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Commercial
Registration Number |
111639, Mansoura |
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Issued
Capital |
£E 120,000 |
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Paid
up Capital |
£E 120,000 |
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Total
Workforce |
10 |
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Line
of Business |
Distributors of general merchandise. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
MOHAMED
AND MAGDY EL SAEED AWAD EL AMRITY
ADDRESS
Registered & Physical Address
Building : El Saeed Al Amrity Building
Street : 15/11 Hosni Mubarak Street
Area : El Mashaya El Sofiya
Town : Mansoura
Country : Egypt
Telephone : (20-50) 221537 / 2244160
Facsimile : (20-50) 221537 / 2260510
Mobile : (20-12) 2220192
Email : alamreeti_mansoura@yahoo.com
Premises
Subject
operates from a small suite of offices and a warehouse that are owned and
located in the Central Business Area of Mansoura.
KEY PRINCIPALS
· Mohamed El Saeed Awad El Amrity Managing
Partner
· Magdy El Saeed Awad El Amrity Partner
· Amar Mostaf Sales
Manager
· Rehab Mohamed Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
History : Subject was established in 1992,
as a limited liability partnership
with Mr El Saeed Awad Al Amrity as one of
the partners. However
Mr El Saeed Awad Al Amrity
passed away in early 2006 and as a
result the subject
re-registered on 28th January 2006 under the new
name of “Mohamed and Magdy El
Saeed Awad El Amrity” with Mr
Mohamed El Saeed Awad El Amrity
and Mr Magdy El Saeed Awad
El Amrity becoming the two
partners.
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 111639, Mansoura
Issued
Capital : £E 120,000
Paid
up Capital : £E 120,000
Name of Partner (s)
· Mohamed El Saeed Awad El Amrity
· Magdy El Saeed Awad El Amrity
AFFILIATED COMPANIES
· Mohamed El Saeed Awad El Amrity
Mansoura
Tel : (20-50) 2244160
Fax : (20-50) 2260510
LINE OF BUSINESS
Operations
: Engaged in the
import and distribution of general merchandise, including ready
made garments,
foodstuffs and electrical appliances.
Import
Countries :
Europe and the Far East.
Operating
Trend : Steady
Subject
has a workforce of 10 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
4,600,000 £E
4,980,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab
International Bank
60 Mohamed Hassan Helmy Street
Mohandessin
Cairo
Tel : (20-2) 3029647
Fax : (20-2) 3029651
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of
transaction April
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
Established
in 1992, subject is owned and managed by Mr Mohamed El Saeed Awad El Amrity and
Mr Magdy El Saeed Awad El Amrity 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$ 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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