MIRA
INFORM REPORT
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Report Date : |
23.01.2007 |
IDENTIFICATION
DETAILS
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Name : |
EL
FOTOUH IMPORT & EXPORT |
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Registered Office : |
22
Avenue El Gaber El Haram, Giza, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2005 |
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Date of Incorporation : |
1975 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the wholesale and retail of automotive spare parts and hardware products. |
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$
120,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL FOTOUH IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1975
Invested Capital : £E 100,000
Total Workforce : 4
Line of Business : Wholesalers and retailers of automotive spare parts
and hardware products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL
FOTOUH IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : 22 Avenue El Gaber El Haram
Area : Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 5859512
Facsimile : (20-2) 5859512
Mobile : (20-10) 2533967
Email : fng@hotmail.com
Premises
Subject
operates from a small suite of offices and a showroom that are owned and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
· Faiz Nafi Gaberil Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1975
Legal Form : Mouassasa Khassa (Sole Proprietorship)
Invested
Capital : £E 100,000
Mr Faiz
Nafi Gaberil 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
wholesale and retail of automotive spare parts and hardware products.
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 4,000,000 £E
4,410,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Banque
du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
Date of transaction January 2006
Credit
amount 100,000
Amount
overdue 0
Payment
terms 60 days
Payment
Method Letters of
Credit
Paying
record No
Complaints
Currency Euros
GENERAL COMMENTS
Established
in 1975, subject is owned and managed by Mr Faiz Nafi Gaberil who is 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.
Maximum
suggested credit figure: US$ 120,000
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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