MIRA
INFORM REPORT
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Report Date : |
16.03.2007 |
IDENTIFICATION
DETAILS
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Name : |
NEW BIRD FOR IMPORT & EXPORT |
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Registered Office : |
12 El
Sayed El Kharwily Street, Shokry El Kawtly Area, Mehalla, Gharbeya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
6338 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged
in the manufacture of twisting yarns and the import and distribution of
cotton, polyester and silk yarns, as well as clothes requisites. |
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 : NEW BIRD FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Commercial Registration Number : 6338
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 60
Line of Business :
Manufacture of twisting yarns and the import and
distribution of cotton,
polyester and silk yarns, as well as clothes requisites.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NEW BIRD FOR IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : 12 El
Sayed El Kharwily Street
Area : Shokry
El Kawtly Area, Mehalla
Town : Gharbeya
Country : Egypt
Telephone : (20-40) 2230716 / 2242946
Facsimile : (20-40) 2238781
Premises
Subject operates
from a medium sized suite of offices, a factory and warehousing that are owned
and located in the Suburban Business Area of Gharbeya.
KEY PRINCIPALS
·
Ali
Ali El Hefnawi Managing
Partner
·
Salah
Abd El Bary Partner
·
Abd
El Gelil Sobhy Salama Sales
Manager
·
Mahmoud
Shahin Factory
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1995
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 6338
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Partner (s)
·
Ali
Ali El Hefnawi
·
Salah
Abd El Bary
LINE OF BUSINESS
Operations : Engaged in the manufacture
of twisting yarns and the import and distribution of cotton, polyester and silk
yarns, as well as clothes requisites.
Import Countries
: India
Operating Trend
: Steady
Subject has a
workforce of 60 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 11,800,000 £E 13,300,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Abu Dhabi
242 El Guish Street
El Mansoura
El Dakahleya
Tel: (20-50) 2329971
Fax: (20-50) 2329972
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit
figure of US$ 150,000
New Bird For Import & Export is well established in the
local market specialising in the manufacture of twisting yarns and the import and
distribution of cotton, polyester and silk yarns, as well as clothes
requisites.
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 and the above credit figure is
within subject’s financial means.
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%)