MIRA
INFORM REPORT
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Report Date : |
06.06.2007 |
IDENTIFICATION DETAILS
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Name : |
MAGIRUS INTERNATIONAL CO |
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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 : |
1969 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged
in the import and distribution of gas pumps and equipment, gaskets sets, pistons,
turning machines and engine 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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MAGIRUS INTERNATIONAL CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1969
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 150
Line of Business :
Import and distribution of gas pumps and equipment,
gaskets sets,
pistons, turning machines and engine spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
MAGIRUS INTERNATIONAL CO
ADDRESS
Registered & Physical Address
Street : 4 Ahmed
Ammar Street (off Shubra Street)
Area : El
Khalafawy, Shubra
Town :
Country : Egypt
Telephone : (20-2) 2045566
/ 2045567
Facsimile : (20-2) 4309371
Mobile : (20-12) 2111522
Premises
Subject operates
from a medium sized suite of offices, a warehouse, workshop and showroom that
are rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
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28 Abu El Dardaa Street Rented
office, warehouse & showroom
Alexandria
Tel: (20-3) 3909430
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El Sheikh Ali Abd El Dayem Street Rented
office, warehouse & showroom
Assiut
Tel: (20-88) 2336052
KEY PRINCIPALS
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Mounir Fahmy Abd El Shahid Managing Partner
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Nabil Mounir Fahmy Partner
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Adel Mounir Fahmy Partner
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Hanaa Yousry Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1969
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Partner (s)
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Mounir Fahmy Abd El Shahid
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Nabil Mounir Fahmy
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Adel Mounir Fahmy
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of gas pumps and equipment, gaskets sets, pistons,
turning machines and engine spare parts. Subject also offers maintenance
services.
Import Countries
: China, Japan and India.
Brand Names : MONARK DIESEL,
MAHLE, YUNAN, and TAM.
Operating Trend
: Steady
Subject has a
workforce of approximately 150 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 37,600,000 £E 41,200,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Banque
Misr
151 Mohamed Farid Street
Cairo
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
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The
United Bank
106 Kasr El Ainy Street
Garden City
Cairo
Tel: (20-2) 7920149
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000
Magirus International Co is well established in the local
market with operations dating back to 1969. The company specialises in the import and distribution of gas
pumps and equipment, gaskets sets, pistons, turning machines and engine spare
parts.
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$ 250,000
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%)