MIRA
INFORM REPORT
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Report Date : |
03.07.2007 |
IDENTIFICATION DETAILS
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Name : |
COMMERCIAL INTERNATIONAL CENTRE |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1987 |
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Com. Reg. No.: |
13131, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged
in the import, distribution and retail of computers and computer spare parts |
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
Company Name : COMMERCIAL INTERNATIONAL CENTRE
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1987
Commercial Registration Number :
13131,
Invested Capital : £E 30,000
Total Workforce : 22
Line of Business :
Import, distribution and retail of computers and
computer spare parts,
related furniture, plastic raw materials and industrial detergents.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
COMMERCIAL INTERNATIONAL CENTRE
ADDRESS
Registered & Physical Address
Street : 36 El
Mansour Mohamed Street
Area : Zamalek
Town :
Country : Egypt
Telephone : (20-2) 7350876
/ 7355758 / 7374657
Facsimile : (20-2) 3446366
Mobile : (20-12) 4821360
Email : clc_egypt@yahoo.com
Premises
Subject operates
from a medium sized suite of offices and a showroom that are rented and located
in the Central Business Area of Cairo.
Branch Office (s)
Location Description
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Kian Showroom Rented
showroom premises
Arkedia
Mall, 2nd Floor
Boulak Abu El Ela
Cairo
Tel: (20-2)
5742009
Fax: (20-2)
5742009
KEY PRINCIPALS
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Mohamed Said Mattar Proprietor
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Karam Abd El Wahab Finance
Manager
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Anwar Hamed Accounts
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1987
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 13131, Cairo
Invested Capital
: £E 30,000
Mr Mohamed Said Mattar 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, distribution and retail of computers and computer spare parts, such as
monitors, keyboards and hard disks, as well as related furniture. Subject
distributes plastic raw materials and industrial detergents.
Import Countries
: United States of America,
Taiwan, Japan and China.
Brand Names : MICROVISION and
KIAN
Operating Trend
: Steady
Subject has a
workforce of 22 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 9,800,000 £E 10,560,000
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.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in
1987, Commercial
International Centre, specialises in the import, distribution and retail of computers and computer
spare parts, related furniture, plastic raw materials and industrial
detergents.
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 and the above credit figure is
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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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%)