MIRA
INFORM REPORT
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Report Date : |
24.05.2007 |
IDENTIFICATION DETAILS
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Name : |
PULLMAN ELECTRIC
CO |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
109073, |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
import and retail of electrical accessories, switchgears, panel controls, circuit
breakers and conductors. |
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 : PULLMAN ELECTRIC CO
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1997
Commercial Registration Number :
109073,
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 45
Line of Business : Retail of electrical accessories, switchgears, panel
controls, circuit breakers and conductors.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
PULLMAN ELECTRIC CO
ADDRESS
Registered & Physical Address
Street : 10 Degla Street
Area : Mohandessin
Town :
Country : Egypt
Telephone : (20-2) 7609214 / 7489071
Facsimile : (20-2) 7609214
Mobile : (20-10) 1503703
Email : pullman@link.net
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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Nour
Centre Tower Rented
showroom premises
13 Abdel Haq El Sonbaty Street
Ataba
Tel: (20-2) 3920993 / 3961498
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Jely
Mall Rented
showroom premises
15 Soliman El Halaby Street
Tawfikeya
Tel: (20-2) 5792975
KEY PRINCIPALS
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Ashraf
Abdul Mawjoud Managing
Partner
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Mohamed
Abdul Mawjoud Partner
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Mohamed
Ibrahim El Assal Commercial
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1997
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 109073, Giza
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Partner (s)
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Ashraf
Abdul Mawjoud
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Mohamed
Abdul Mawjoud
LINE OF BUSINESS
Operations : Engaged in the import and retail of
electrical accessories, switchgears, panel controls, circuit breakers and
conductors.
Import Countries
: Germany, Spain and the
United Kingdom.
Brand Names : TC, SGE, POWERMAT, PRECISE, and
CONNECTWELL.
Operating Trend
: Steady
Subject has a
workforce of 45 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 10,800,000 £E 11,290,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National
Bank of
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000
Established in 1997,
Pullman Electric Co operates 2 showrooms specialising in the retail of
electrical accessories, switchgears, panel controls, circuit breakers and
conductors.
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
admissible.
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%)