MIRA
INFORM REPORT
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Report Date : |
31.07.2007 |
IDENTIFICATION DETAILS
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Name : |
ARAFA EL ATTAR
ESTABLISHMENT |
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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 : |
1984 |
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Com. Reg. No.: |
343950, |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of herbal products, spices and basmati rice. |
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 : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : ARAFA EL ATTAR
ESTABLISHMENT
Country of Origin :
Legal Form :
Sole Proprietorship
Registration Date : 1984
Commercial
Registration Number : 343950,
Invested Capital : £E 50,000
Total Workforce : 8
Line of Business :
Distributors of herbal
products, spices and basmati rice.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ARAFA EL ATTAR
ESTABLISHMENT
ADDRESS
Registered & Physical Address
Street :
Area : Al Azhar
Town :
Country :
Telephone : (20-2) 25900590
Facsimile : (20-2) 25927435
Email : arafaegy@yahoo.com
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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Arafa
El Attar Proprietor
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Mohamed
Arafa El Attar General
Manager
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Hala
Mohamed Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1984
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 343950,
Invested Capital
: £E 50,000
Mr Arafa El Attar 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 herbal products, spices and basmati rice.
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
Pound (£E)
Year Ending
31/12/05 : Year
Ending 31/12/06 :
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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Societe
Arabe Internationale de Banque
PO Box : 124
Tel : (20-2) 3499464 / 3603489
Fax : (20-2) 3603497 / 3603487
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in
1984, subject is involved in the import and distribution of herbal products, spices and basmati rice.
According to local
sources, subject’s financial condition is satisfactory whilst payments are made
in a timely manner. The company’s operating history is reportedly clear and the
above credit figure is considered to be within subject’s financial means.
Maximum suggested
credit figure of: 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%)