MIRA
INFORM REPORT
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Report Date : |
9th March, 2007 |
IDENTIFICATION
DETAILS
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Name : |
EL KANANA FOR TRADING AND MARKETING |
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Registered Office : |
19 El Kaboa Misr
El Kadiuma Street, Cairo, Egypt. |
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Country : |
Egypt |
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Date of Incorporation : |
2006 |
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Legal Form : |
Mouassasa Khassa
(Sole Proprietorship) |
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Line of Business : |
Engaged in the import and distribution of vaccines,
medical and chemical products. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
EUR 50,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
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Company Name |
EL KANANA FOR TRADING AND MARKETING |
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Country of Origin |
Egypt |
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Legal Form |
Sole Proprietorship |
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Registration Date |
2006 |
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Invested Capital |
£E 80,000 |
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Total Workforce |
4 |
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Line of Business |
Distributors of vaccines, medical and chemical products. |
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Financial Condition |
Undetermined |
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Payments |
Nothing detrimental uncovered |
COMPANY NAME
EL KANANA FOR
TRADING AND MARKETING
ADDRESS
Registered & Physical Address
Location : 19 El Kaboa Misr El Kadiuma Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 3629628
Facsimile : (20-2) 3629628
Mobile : (20-12) 2240150
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Cairo.
KEY PRINCIPALS
·
Moosa Tohami
Mohamed Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: £E 80,000
Mr Moosa Tohami
Mohamed 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 vaccines, medical and chemical products.
Import Countries
: Europe and the Far East.
Subject has a
workforce of 4 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of EUR 300,000:
Investigations
undertaken in Cairo did not reveal any sign of payment defaults or delays
during initial trading stages, and subject is believed to meet its payment
obligations in a timely manner, nevertheless, and in view of the company’s
infancy and the lack of a more consistent payment and financial record, a
measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
Maximum suggested
credit figure of: EUR 50,000
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%)