MIRA
INFORM REPORT
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Report Date : |
11.05.2007 |
IDENTIFICATION DETAILS
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Name : |
MASKEM SPECIALITY
CHEMICALS |
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Registered Office : |
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Country : |
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Date of Incorporation : |
January 2007 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
import and distribution of chemicals for the food and cosmetics industries. |
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 : |
US$ 30,000 |
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Status : |
New Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : MASKEM SPECIALITY CHEMICALS
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : January 2007
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 3
Line of Business : Distributors of chemicals for the food and cosmetics industries.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MASKEM SPECIALITY
CHEMICALS
ADDRESS
Registered & Physical Address
Street : 209 Abdelsalam Aref Street
Area : Loran
Town :
Country : Egypt
Telephone : (20-3) 5840974
Facsimile : (20-3) 5851103
Mobile : (20-10) 8450000
Email : waldizineldin@maskem.com
Premises
Subject operates
from a small large suite of offices and a warehouse that are rented and located
in the Central Business Area of Alexandria.
KEY PRINCIPALS
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Walid
Zineldin General
Manager
LEGAL FORM &
OWNERS
Date of Establishment : January 2007
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Partner (s)
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Maskem
Holding
Luxembourg
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
chemicals for the food and cosmetics industries.
Import Countries
: Europe and GCC countries.
Subject has a
workforce of 3 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
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Barclays
Bank
11 Sharikat Misr
Azarita
Alexandria
Tel : (20-3) 4861307
Fax : (20-3) 4869116
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Investigations
undertaken in Alexandria 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: US$ 30,000
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%)