MIRA
INFORM REPORT
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Report Date : |
06.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
INTER CASINO
MANAGEMENT EGYPT LTD |
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Registered Office : |
Ramsis
Hilton, Corniche El Nile
Street, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1988 |
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Legal Form : |
Branch of a Foreign Registered Corporation |
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Line of Business : |
Subject
are operators of the Ramsis Hilton casino, as well as investing related
tourist projects. |
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$ 250,000 |
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Status : |
Branch of Foreign Company |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : INTER CASINO MANAGEMENT EGYPT LTD
Country of Origin : United Kingdom
Legal Form : Branch of a Foreign Registered Corporation
Registration Date : 1988
Total Workforce : 150
Line of Business : Operators of the Ramsis Hilton casino
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
INTER CASINO
MANAGEMENT EGYPT LTD
ADDRESS
Registered & Physical Address
Building : Ramsis
Hilton
Street : Corniche El Nile Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 25754125
/ 25784480 / 25760808
Facsimile : (20-2) 25781831
/ 25762828
Premises
Subject operates
from a large suite of offices and a casino that are rented and located in the
Central Business Area of Cairo.
Branch Office (s)
Location Description
·
Nile
Hilton Mall Rented
office
113
Courniche El Nile
Cairo
Tel: (20-2)
5783101 / 5787982
KEY PRINCIPALS
·
Fathallah
Osman General
Manager
·
Steven
Nil Finance
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1988
Legal Form :
Subject is the Egypt
registered branch of London Clubs Ltd, a
Limited Liability Company incorporated in the United Kingdom
Inter Casino Management Egypt
Ltd in Egypt, operates as a Branch
of a Foreign Registered
Corporation with its registered office
located at the following
address :
London
Clubs Ltd
10 Brick Street
London
W1J 7HQ
A Branch of a Foreign
Registered Corporation is not a legal entity in
its own right. Responsibility
for payments lays in the hands of the
company where it is originally
registered.
Under these circumstances, we
strongly advise that any
international trade credit
should only be written under the name of
the main company where the
subject holds its registered office, in
this case the United Kingdom.
LINE OF BUSINESS
Operations : Subject are
operators of the Ramsis Hilton casino, as well as investing related tourist
projects.
Import Countries
: United Kingdom and the
Far East.
Subject has a
workforce of approximately 150 employees.
FINANCIAL HIGHLIGHTS
No financial information
was released by the company or submitted by outside sources.
BANKERS
·
Arab
African International Bank
5, El Saraya El Kobira Square
PO Box: 60, Magles El Shaab
Cairo
Tel: (20-2) 3545094
Fax: (20-2) 3558493
·
Credit
Agricole Bank
6 El Gezirah Street
Zamalek
Cairo
Tel: (20-2) 27382199
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
Maximum suggested
credit figure: US$ 250,000
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. |
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%)