MIRA
INFORM REPORT
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Report Date : |
23.05.2007 |
IDENTIFICATION DETAILS
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Name : |
SARHAN
INDUSTRIES |
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Registered Office : |
93A |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
92326 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
manufacture and export of materials necessary for porcelain and ceramic manufacturing
as well as for the plastic industry and colouring. |
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$ 400,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : SARHAN INDUSTRIES
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1992
Commercial Registration Number : 92326
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 100
Line of Business : Manufacture and export of materials necessary for
porcelain and ceramic manufacturing as well as for
the plastic industry and colouring.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SARHAN
INDUSTRIES
ADDRESS
Registered & Physical Address
Street : 93A Gesr El Suez Street
Area : Hadayek El Qobba,
Town :
Country : Egypt
Telephone : (20-2) 4550546
Facsimile : (20-2) 4501722
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
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1st
Industrial Zone, Plot 242, Street No. 8 Owned
factory premises
Giza
6th of October City
Tel: (20-2) 8335590 / 8335591
/ 8330734
Fax: (20-2) 8330613
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145
Sudan Street Rented
showroom premises
Mohandessin
Giza
Cairo
Tel: (20-2) 7613238
KEY PRINCIPALS
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Mahgoub
Sarhan Managing
Partner
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Hassan
Sarhan Partner
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Ahmed Abd
El Maksoud Finance
Manager
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Ismail
Abd El Hamid Production
Manager
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Nadia
Abdallah Administration
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1992
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 92326
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Partner (s) Percentage
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Mahgoub
Sarhan 50%
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Hassan
Sarhan 50%
LINE OF BUSINESS
Operations : Engaged in the manufacture and export of materials
necessary for porcelain and ceramic manufacturing as well as for the plastic
industry and colouring.
Import Countries
: India
Export Countries
: Syria, Saudi Arabia,
Yemen, and South Africa.
Operating Trend
: Steady
Subject has a
workforce of approximately 100 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 24,290,000 £E 27,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Bank of
Heliopolis Branch
Cairo
Tel: (20-2)
6332958 / 6351980 / 2417294
Fax: (20-2)
6381604
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National
Bank of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
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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
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Banque
du Caire Barclays Internationale SAE
12, Midan El Sheikh Youssef Street
Garden City
PO Box: 110, Maglis El Shaab
Cairo
Tel: (20-2) 3542195 / 3549415 / 3549422
Fax: (20-2) 3552746
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000
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$ 400,000
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%)