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MIRA
INFORM REPORT
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Report Date : |
30th
January, 2007 |
IDENTIFICATION
DETAILS
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Correct Name : |
AMREYA RUBBER & PLASTIC (FAROPLAST) |
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Registered Office : |
New Borg El_Arab City, Second Zone, Section 4&5, Block 23, Alexandria, Egypt |
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Country : |
Egypt |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
144429, Alexandria |
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Legal Form : |
Sharikat
Tadhamun Bill Asshum (Limited Liability Partnership) |
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Line of Business : |
Engaged in the manufacture and export of latex products such as
balloons, plastic toys and gloves. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$
350,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company
Name |
AMREYA RUBBER & PLASTIC (FAROPLAST) |
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Country
of Origin |
Egypt |
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Legal
Form |
Limited Liability Partnership |
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Registration
Date |
1993 |
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Commercial
Registration Number |
144429, Alexandria |
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Industrial
Registration Number |
245010 |
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Issued
Capital |
£E 4,500,000 |
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Paid
up Capital |
£E 4,500,000 |
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Total
Workforce |
200 |
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Line
of Business |
Manufacture and export of latex products. |
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Financial
Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating
Trend |
Steady |
COMPANY NAME
AMREYA RUBBER & PLASTIC (FAROPLAST)
ADDRESS
Registered & Physical Address
Location : New Borg
El_Arab City, Second Zone, Section 4&5, Block 23
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4593379
/ 4591387
Facsimile : (20-3) 4592417
Email : hossamfarouk@faroplast.com
Premises
Subject
operates from a large suite of offices and a factory that are owned and located
in the Industrial Area of Alexandria.
Branch Office (s)
Location Description
· 26 Dinokrat Street Sales
Office
Azarita
Alexandria
Tel: (20-3) 4844232
Fax: (20-3)
4844232
· 28 Gouhar El Khaed Street Sales
Office
El Mosky
Cairo
Tel: (20-2) 5881246
KEY PRINCIPALS
· Amr Farouk Ibrahim Managing
Partner
· Mohamed Hossam Farouk
Ibrahim Partner
· Ibrahim Farouk
Ibrahim Partner
LEGAL FORM & OWNERS
Date of Establishment : 1993
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 144429, Alexandria
Industrial Reg. No. : 245010
Issued
Capital : £E 4,500,000
Paid
up Capital : £E 4,500,000
Name of Partner (s)
· Amr Farouk Ibrahim
· Mohamed Hossam Farouk
Ibrahim
· Ibrahim Farouk
Ibrahim
LINE OF BUSINESS
Operations
: Engaged in the manufacture and export of latex products
such as balloons, plastic toys and gloves.
Import
Countries :
India
Export
Countries : Libya, Syria, Sudan, United Arab Emirates, Saudi Arabia,
United States
of America, United Kingdom, Germany, France, Italy, and South
Africa.
Brand
Names : FAROPLAST
Operating
Trend : Steady
Subject
has a workforce of approximately 200 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
42,150,000 £E
43,800,000
Local
sources consider subject’s financial condition to be Fair.
BANKERS
·
Industrial
Development Bank of Egypt
9 El Fawatem Street
Bab Shark
Alexandria
Tel: (20-3) 4824802
·
National
Bank of Egypt
21, Tosson Street
Alexandria
Tel : (20-3) 4824802 / 4825715
PAYMENT HISTORY
No
complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion
on the credit figure of US$ 100,000
Established in 1993, Amreya Rubber &
Plastic (Faroplast) specialises in the manufacture and export of latex
products such as balloons, plastic toys and gloves.
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$ 350,000
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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