MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
EL HIGAR FOR
CONSTRUCTION |
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Registered Office : |
El Geish & |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1998 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Operators of crushing,
shaping and cutting facility for marble and granite. |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Usually correct |
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Litigation : |
Clear |
SUMMARY
Company Name : EL HIGAR FOR CONSTRUCTION
Country of Origin :
Legal Form : Sole Proprietorship
Registration Date : 1998
Invested Capital : £E 500,000
Total Workforce : 20
Line of Business : Operators
of a crushing, shaping and cutting
facility
for marble and granite
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL HIGAR FOR
CONSTRUCTION
ADDRESS
Registered & Physical Address
Street : El Geish &
Area : Borg Al Zahara
Town :
Country :
Telephone : (20-66) 3345494
Facsimile : (20-66) 3325292
Email : hesila@bec.com.eg
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Port Said.
Branch Office (s)
Location Description
· Madinet El Safaa Owned
production plant
Assiut
KEY PRINCIPALS
· Sayed Hesila Proprietor
& General Manager
· Ms Ominya Saleh Administrative
Secretary
LEGAL FORM &
OWNERS
Date of
Establishment : 1998
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Invested Capital : £E 500,000
Mr Sayed Hesila 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.
AFFILIATED COMPANIES
· Hesila Trade & Import
Borg Al Zahara
El Geish &
Tel: (20-66) 3345494
Fax: (20-66) 3325292
LINE OF BUSINESS
Operations : Operators
of crushing, shaping and cutting facility for marble and granite. Subject also distributes marble and granite
products.
Import Countries :
Operating Trend : Steady
Subject has a workforce of 20 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E
6,285,000 £E
6,490,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
El Watany El
Masry Bank
Main Branch
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000
El Higar For
Construction was established in 1998 and is owned by Mr Sayed Hesila, a wealthy and experienced Egyptian
businessman.
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$ 125,000
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%)