MIRA
INFORM REPORT
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Report Date : |
25th
January, 2007 |
IDENTIFICATION DETAILS
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Name : |
FOCUS TRADE |
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Registered Office : |
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Country : |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
28012, |
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Legal Form : |
Tadhamun
(General Partnership) |
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Line of Business : |
Engaged
in the import and distribution of chemical and pharmaceuticals. |
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 |
OCUS TRADE |
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Country
of Origin |
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Legal
Form |
General Partnership |
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Registration
Date |
1996 |
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Commercial
Registration Number |
28012, |
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Partners
Capital |
£E 50,000 |
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Total
Workforce |
8 |
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Line
of Business |
Distributors of chemicals and pharmaceuticals. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
FOCUS
TRADE
ADDRESS
Registered & Physical Address
Street :
Area : El Nozha El Gedida
Town :
Country :
Telephone : (20-2) 6221641 / 6222311
Facsimile : (20-2) 6221640
Email : focus@tedata.net.eg
Premises
Subject
operates from a small suite of offices and a warehouse that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
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Dr Ramzi Haggas Managing
Partner
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Dr Thamer Haggas Partner
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Sharikat Tadhamun (General Partnership)
Commercial Reg. No. : 28012,
Partners
Capital : £E 50,000
Name of Partner (s)
·
Dr Ramzi Haggas
·
Dr Thamer Haggas
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 chemical and pharmaceuticals.
Import
Countries :
Europe and the
Operating
Trend : Steady
Subject
has a workforce of 8 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
4,100,000 £E
4,250,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
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Suez Canal Bank
PO Box : 2620
Tel : (20-2) 5769296
Fax : (20-2) 5322064
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established
in 1996, subject is owned and managed by Dr Ramzi Haggas and Dr Thamer Haggas
who are well respected in the local business community.
Local
sources report that the subject’s operating history is clear with payment
obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk.
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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