MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
SAID
SEID MOHAMED HASSEN |
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Registered Office : |
9S |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
2001 |
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Com. Reg. No.: |
46624, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import and distribution of fire and safety equipment, alarms and
detectors, as well as protective clothing. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SAID SEID MOHAMED HASSEN
Also Known As : SAID OKIEL
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 2001
Commercial Registration Number :
46624,
Import Licence Number : 39687
Invested Capital : £E 80,000
Total Workforce : 15
Line of Business : Import and distribution of fire and safety equipment.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SAID SEID
MOHAMED HASSEN
ALSO KNOWN AS
SAID
OKIEL
ADDRESS
Registered & Physical Address
Street : 9S
Elgzaer Street
Area : Section
10, New Maadi
PO Box : 905
Town :
Country : Egypt
Telephone : (20-2) 7034479
Facsimile : (20-2) 7034479
Mobile : (20-12) 7920285
Email : sokiel@access.com.eg
Premises
Subject operates
from a small suite of offices that are rented and located in the Industrial
Area of Cairo.
KEY PRINCIPALS
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Said Seid Mohamed Hassen Okiel Proprietor
& General Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2001
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 46624, Cairo
Import Licence No. : 39687
Invested Capital
: £E 80,000
Mr Said Seid Mohamed Hassen Okiel 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
import and distribution of fire and safety equipment, alarms and detectors, as
well as protective clothing.
Import Countries
: Germany, Italy, France
and the United States of America.
International
Suppliers :
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Bacou-Dalloz Germany
Operating Trend
: Steady
Subject has a
workforce of 15 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Egyptian
Pound (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E 5,300,000 £E 5,850,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of transaction June 2006
Credit amount 50,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Euros
GENERAL COMMENTS
Said Seid
Mohamed Hassen is a fairly small business established in 2001 and engaged in
the import and distribution of fire and safety equipment.
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
business is considered to be a fair trade risk.
Maximum suggested
credit figure: US$ 150,000
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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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)