MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
ATM GROUP |
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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 : |
2001 |
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Com. Reg. No.: |
21111, |
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Legal Form : |
Sharikat Tadhamun (General Partnership) |
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Line of Business : |
Engaged in the import and
distribution of general merchandise, specialising in plastic, PVC, and jute. |
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 :
ATM GROUP
Country of Origin :
Legal Form :
General Partnership
Registration Date :
2001
Commercial Registration Number :
21111,
Partners Capital :
£E 50,000
Total Workforce :
8
Line of Business :
Import and distribution of general
merchandise,
specialising in plastic, PVC, and jute.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
ATM GROUP
ADDRESS
Registered & Physical Address
Street :
Area : Ras Elteen, Bahry
Town :
Country :
Telephone : (20-3) 4839107
Facsimile : (20-3) 4839107
Email : atm2004@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Alexandria.
KEY PRINCIPALS
Tariq Mohamed Fawzi Managing
Partner
Akram Farooq Fouad Partner
LEGAL FORM &
OWNERS
Date of Establishment : 2001
Legal Form : Sharikat Tadhamun
(General Partnership)
Commercial Reg. No. : 21111,
Partners Capital : £E 50,000
Name of Partner (s)
Tariq Mohamed Fawzi
Akram Farooq Fouad
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged
in the import and distribution of general merchandise, specialising in plastic,
PVC, and jute.
Import Countries :
International Suppliers :
Mitchigan Rubber
Suprghan
Operating Trend : Steady
Subject has a workforce of 8 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
3,280,000 £E
3,610,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
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
Subject was established in 2001 and is engaged in the import and distribution of general merchandise,
specialising in plastic, PVC, and jute.
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.
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%)