MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
ORIENTAL STONE COMPANY |
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Registered Office : |
Gulf Towers C,
Tower 10, Elhedaiah Street, Alexandria, Egypt. |
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Country : |
Egypt |
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Date of Incorporation : |
1991 |
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Com. Reg. No.: |
41390, Alexandria |
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Legal Form : |
Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership) |
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Line of Business : |
Engaged in the import, cutting, processing and distribution
of granite, stone and marble. |
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
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Company Name |
ORIENTAL STONE COMPANY |
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Country of Origin |
Egypt |
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Legal Form |
Limited Liability Partnership |
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Registration Date |
1991 |
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Commercial
Registration Number |
41390, Alexandria |
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Issued Capital |
£E 5,000,000 |
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Paid up Capital |
£E 5,000,000 |
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Total Workforce |
180 |
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Line of Business |
Cutters, processors and distributors of granite, stone and marble. |
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Financial Condition |
Fair |
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Payments |
Nothing detrimental uncovered |
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Operating Trend |
Steady |
COMPANY NAME
ORIENTAL STONE
COMPANY
ADDRESS
Registered & Physical Address
Building : Gulf Towers C, Tower 10
Street : Elhedaiah Street
Town : Alexandria
Country : Egypt
Telephone : (20-3) 5858640 / 5851618
Facsimile : (20-3) 5854881
Email : orientalstone@link.net
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Alexandria.
KEY PRINCIPALS
·
Ehab Rashid
Mostafa Managing
Partner
·
Mohamed
Abdulazim Al Eissawi Partner
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Ahmed Taha General
Manager
·
Hamid Salman Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 41390,
Alexandria
Issued Capital : £E 5,000,000
Paid up Capital : £E 5,000,000
Name of Partner (s)
·
Ehab Rashid
Mostafa
·
Mohamed
Abdulazim Al Eissawi
LINE OF BUSINESS
Operations : Engaged in the import, cutting, processing and distribution of granite, stone and marble.
Import Countries
: Europe, India, Iran and
the United States of America.
International
Suppliers :
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Quality Stone Spain
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Stanza Export India
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Profiman Iran
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Emco Iran
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Odasi United States of America
Operating Trend
: Steady
Subject has a workforce
of approximately 185 employees.
FINANCIAL HIGHLIGHTS
Financial
highlights provided by outside sources are given below :
Currency : United
States Dollars (US$)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue US$ 19,750,000 US$ 21,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
Suez Canal
Bank
60 El Horreya Avenue
Alexandria
Tel : (20-3) 4878208
·
National
Societe Generale Bank
Sidi Gaber
PO Box 377
Alexandria
Tel: (20-3) 5440296
Fax: (20-3) 5455715
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1991, subject is involved in the import, cutting, processing and distribution
of granite, stone and marble.
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$ 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%)