MIRA
INFORM REPORT
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Report Date : |
10.05.2007 |
IDENTIFICATION DETAILS
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Name : |
GENERAL METALS
COMPANY SAE |
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Registered Office : |
5, 26th July
Street, |
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Country : |
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Date of Incorporation : |
1937 |
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Com. Reg. No.: |
26127, |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and
export of non-ferrous alloys (aluminium, zinc, lead, copper, tin and precious
metals) and silver ware used in motor vehicle spare parts and washing
machines. |
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$ 1,500,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : GENERAL METALS COMPANY SAE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1937
Commercial Registration Number :
26127,
Issued Capital : £E 70,000,000
Paid up Capital : £E 70,000,000
Total Workforce : 1,000
Line of Business : Manufacture and export of non-ferrous alloys
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
GENERAL METALS
COMPANY SAE
ADDRESS
Registered & Physical Address
Location : 5, 26th July Street
PO Box : 1898
Town :
Country :
Telephone : (20-2) 5903829 / 5910233 / 5916432 /
5919937 / 5902697
Facsimile : (20-2) 5903829
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
Helwan
Tel: (20-2) 5010421 / 5010420
/ 5010419
Fax: (20-2) 5010417 / 5906479
·
68 Mansouria
Street Owned
factory premises
Darassa, El Azhar
Tel: (20-2) 5893233 / 5893545
/ 5897312
Fax: (20-2) 5893747
KEY PRINCIPALS
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Fawzy
Abd El Hamid Hassan Chairman
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Galal
Hassanein Director
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Sayed
Abdallah Director
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Ahmed
Abd El Tawab Director
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Abd El
Azim Zaher Mohamed Director
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Medhat
Mahmoud Zakaria Director
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Sayed
Abu El Salehin Finance
Manager
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Faten
Mahmoud Saad Accounts
Manager
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Gamal
Ahmed Abd El Rahman Sales
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1937
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 26127,
Authorised
Capital : £E 100,000,000
Issued Capital : £E
70,000,000
Paid up Capital : £E 70,000,000
Name of Shareholder
(s) Percentage
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Metallurgical
Industries Holding * 100%
Garden City
Tel: (20-2) 7944532
Fax: (20-2) 7957221
* Metallurgical Industries Holding is wholly owned by the Ministry of
Public Enterprises, which in turn is responsible to the government of
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.
LINE OF BUSINESS
Operations : Engaged in the manufacture and export of
non-ferrous alloys (aluminium, zinc, lead, copper, tin and precious metals) and
silver ware used in motor vehicle spare parts and washing machines. Subject is
also engaged in the manufacture of aluminium products, such as sheets, disks
and rolls, as well as refrigerator components.
Import Countries
:
Export Countries
:
Subject has a
workforce of approximately 1,000 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
·
Bank of
Tel: (20-2)
6332958 / 6351980 / 2417294
Fax: (20-2)
6381604
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National
Bank of
24,
Tel : (20-2) 3924175
Fax : (20-2) 3924143
·
Arab International Bank (AIB)
60
Mohamed Hassan Helmi
Mohandessin
Tel: (20-2) 3029647
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
General Metals
Company SAE is a leading concern in the Egyptian metals industry with
operations dating back 70 years.
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$ 1,500,000
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%)