MIRA
INFORM REPORT
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Report Date : |
26.07.2007 |
IDENTIFICATION DETAILS
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Name : |
SOCHEMA FOR TRADE PUBLIC FREE ZONE |
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Registered Office : |
Amreya Free Zone, |
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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.: |
284195, |
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Legal Form : |
Societe Anonyme Egyptienne – SAE (Egyptian Joint Stock
Company) |
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Line of Business : |
Engaged in the import and distribution of fully automatic
injection equipment for plastic processing, textile dyeing machinery, and
plastic and chemical raw materials. |
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 :
SOCHEMA FOR TRADE PUBLIC FREE ZONE
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Registration Date :
2001
Commercial Registration Number :
284195,
Issued Capital :
£E 1,000,000
Paid up Capital :
£E 1,000,000
Total Workforce :
14
Line of Business :
Import and distribution of fully automatic injection
equipment for plastic processing, textile
dyeing
machinery, and plastic and chemical raw
materials.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
SOCHEMA FOR TRADE PUBLIC FREE ZONE
ADDRESS
Registered & Physical Address
Location : Amreya Free
Zone
Town :
Country :
Telephone : (20-3) 4480864
Facsimile : (20-3) 4480664
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Amreya Free Zone.
Branch Office (s)
Location Description
Merghani,
Tel: (20-2) 4142339 / 4142384
Fax: (20-2) 4142267
KEY PRINCIPALS
Sherif El Ashram Managing
Director
Hazem Rizk Director
Mamdouh Aziz Director
Vivian Fareed Administrative
Officer
LEGAL FORM &
OWNERS
Date of Establishment : 2001
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 284195,
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Shareholder
(s)
Sherif El Ashram
Hazem Rizk
Mamdouh Aziz
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne
- SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are
offered to the public they are freely transferable, if not, transfer may be
restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of fully automatic injection equipment for plastic
processing, textile dyeing machinery, and
plastic and chemical raw materials.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 14 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E 5,750,000 £E 6,050,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Commercial International Bank (CIB)
Tel : (20-3) 4824643 / 4834255
Fax : (20-3) 4832240
Misr International Bank (MIBANK)
33,
Raml Station
Tel : (20-3) 4828174 / 4828213
Fax : (20-3) 4838216
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
Sochema For Trade Public Free Zone is well established in the local
market and is engaged in the import and distribution of fully automatic
injection equipment for plastic processing, textile dyeing machinery, and
plastic and chemical raw materials.
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 admissible.
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%)