MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
LIFE MAKER EL TUGARIA FOR IMPORT |
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Registered Office : |
1 Murad Street,
Off El Emam Al Ghazaly Street, Bourj Al Ghazaly, Mansoura, Egypt. |
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Country : |
Egypt |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
108063, Mansoura |
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Legal Form : |
Mouassasa Khassa
(Sole Proprietorship) |
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Line of Business : |
Engaged in the import
and distribution of seeds, chemicals and fertilizers. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
LIFE MAKER EL TUGARIA FOR IMPORT |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
2002 |
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Commercial
Registration Number |
108063, Mansoura |
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Invested Capital |
£E 50,000 |
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Total Workforce |
5 |
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Line of Business |
Distributors of seeds, chemicals and fertilizers. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
LIFE MAKER EL
TUGARIA FOR IMPORT
ADDRESS
Registered & Physical Address
Street : 1 Murad Street, Off El Emam Al
Ghazaly Street
Area : Bourj Al Ghazaly
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2236096
Facsimile : (20-50) 2236096
Mobile : (20-10) 1008950
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Mansoura.
KEY PRINCIPALS
·
Dr Wahba El
Gazzar Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Mouassasa Khassa (Sole Proprietorship)
Commercial Reg. No. : 108063,
Mansoura
Invested Capital
: £E 50,000
Dr Wahba El Gazzar
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
seeds, chemicals and fertilizers.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : Egyptian
Pound (£E)
Year Ending
31/12/04 : Year
Ending 31/12/05 :
Total Revenue £E 3,800,000 £E
4,290,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Egyptian Saudi
Finance Bank
Corner of Suez Canal and El Falaky Street
Mansoura
Tel
: (20-50) 2334503
Fax
: (20-50) 2334501
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
2002, subject is owned and managed by Dr Wahba El Gazzar who is well respected
in the local business community.
Local sources
report that the subject’s operating history is clear with payment obligations
met in a generally timely manner. The financial position is satisfactory and
the business is deemed a fair trade risk.
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%)