MIRA
INFORM REPORT
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Report Date : |
13.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN GERMAN CO FOR FOOD ADDITIVES |
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Registered Office : |
Saudi Co Building, 8th Floor, Office No. 801, 7
EI Nozha Street, Nasr City, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1996 |
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Com. Reg. No.: |
350071 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of food additives, stabilisers and colour enhancement products |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EGYPTIAN GERMAN CO FOR FOOD ADDITIVES
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1996
Commercial Registration Number : 350071, Cairo
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Total Workforce : 13
Line of Business : Distributors of food additives, stabilisers and colour
enhancement products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EGYPTIAN GERMAN CO FOR FOOD ADDITIVES
ADDRESS
Registered & Physical Address
Building : Saudi Co Building, 8th Floor, Office No. 801
Street : 7 El Nozha Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 24141973
Facsimile : (20-2) 24148838
Email : egyptiangerman@starnet.com.org
Premises
Subject operates from a small suite of offices that are rented and located in the Central Business Area of Cairo.
KEY PRINCIPALS
Yousef Hosni Ibrahim Managing Partner
Hosni Abdul Shafei Partner
Mostafa Ibrahim Finance Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form : Sharikat Tadhamun Bill Asshum (Limited Liability Partnership)
Commercial Reg. No. : 350071, Cairo
Issued Capital : £E 150,000
Paid up Capital : £E 150,000
Name of Partner (s)
Yousef Hosni Ibrahim
Hosni Abdul Shafei
LINE OF BUSINESS
Operations : Engaged in the import and distribution of food additives, stabilisers and colour
enhancement products.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 13 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 5,100,000 £E 5,380,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
Credit Agricole Egypt
4/6 Hassan Sabry Street
Zamalek
Cairo
Tel : (20-2) 27382661
Fax : (20-2) 27380450
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 1996, subject is involved in the import and distribution of food additives, stabilisers and colour enhancement products.
Local sources report that payment obligations are met in a generally timely manner and the operating history is clear. As such the company is deemed a fair trade risk and the above credit figure is considered to be within subject’s financial means.
Maximum suggested credit figure: US$ 100,000
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%)