MIRA
INFORM REPORT
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Report Date : |
28.06.2007 |
IDENTIFICATION DETAILS
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Name : |
RELANTEX FOR TRADING AND INVESTMENTS |
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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 : |
1957 |
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Com. Reg. No.: |
3541, |
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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 general
merchandise, specialising in foodstuff products and commodities. |
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$ 200,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
RELANTEX FOR TRADING AND INVESTMENTS
Country of Origin :
Legal Form :
Egyptian Joint Stock Company
Registration Date :
1957
Commercial Registration Number :
3541,
Issued Capital :
£E 250,000
Paid up Capital :
£E 250,000
Total Workforce :
40
Line of Business :
Import and distribution of general merchandise.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
RELANTEX FOR TRADING AND INVESTMENTS
ADDRESS
Registered & Physical Address
Street :
Area :
Town :
Country :
Telephone : (20-2) 7602805
/ 7602804
Facsimile : (20-2) 7607123
Email : relantex@link.eg
Premises
Subject operates from a medium sized suite of offices and storage
facilities that are rented and located in the Central Business Area of Cairo.
KEY PRINCIPALS
Yemani Abdulrahman Silsilah Managing
Director
Ms Reham Yemani Abdulrahman Silsilah Director
Ms Jihan Yemani Abdulrahman Silsilah Director
Ms Duwa Yemani Abdulrahman Silsilah Director
Kamal Abdul Hamid General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1957
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 3541,
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s)
Yemani Abdulrahman Silsilah
Ms Reham Yemani Abdulrahman Silsilah
Ms Jihan Yemani Abdulrahman Silsilah
Ms Duwa Yemani Abdulrahman Silsilah
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.
AFFILIATED COMPANIES
Relantex for Tourism & Investment
Dokki,
Tel: (20-2) 7602805
Fax: (20-2) 7607123
Relantex for Property & Investment
Dokki,
Tel: (20-2) 7602805
Fax: (20-2) 7607123
LINE OF BUSINESS
Operations : Engaged in the
import and distribution of general merchandise, specialising in foodstuff
products and commodities.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 40 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
17,275,000 £E
18,695,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
National Bank of
24,
Tel : (20-2) 3924175
Fax : (20-2) 3924143
Banque Misr
Tel : (20-2) 3912711 / 3912106
Fax : (20-2) 3919779
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1957, Relantex For Trading And Investments is well known
in the local market and is engaged in the import and distribution of general
merchandise, specialising in foodstuff products and commodities.
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$ 200,000
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%)