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MIRA
INFORM REPORT
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Report Date : |
16.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
STE AL HOUDA FOR
EXPORT & IMPORT (AHMED ABDELLATIF) |
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Registered Office : |
Al Huda Tower, Al
Taqwa & El Iman Street, Ard El Golf, Port Said |
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Country : |
Egypt |
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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.: |
2728, Port Said |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the import
and distribution of motor cycle spare parts and sea food 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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : STE AL HOUDA FOR EXPORT & IMPORT (AHMED ABDELLATIF)
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1997
Commercial Registration Number : 2728, Port Said
Invested Capital : £E 100,000
Total Workforce : 15
Line of Business : Distributors of motor cycle spare parts and sea food products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
STE AL HOUDA FOR
EXPORT & IMPORT (AHMED ABDELLATIF)
ADDRESS
Registered & Physical Address
Building : Al Huda Tower
Street : Al Taqwa & El Iman Street
Area : Ard El Golf
Town : Port Said
Country : Egypt
Telephone : (20-66) 3724447
Facsimile : (20-66) 3724447
Mobile : (20-10) 1110128
Email : alhodatrade@gmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Central Business Area of Port Said.
Branch Offices
Location Description
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27 Khashab
Street Office
premises
Cairo
KEY PRINCIPALS
·
Ahmed Mohamed
Abdellatif Ahmed Proprietor
& General Manager
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Huda Saleem
Hussain Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1997
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Commercial Reg. No. : 2728, Port
Said
Invested Capital
: £E 100,000
Mr Ahmed Mohamed
Abdellatif Ahmed 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.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
motor cycle spare parts and sea food products.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 15 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 6,400,000 £E
6,700,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
International Bank (CIB)
El Gomhouria Street
Port Said Free Zone
Port Said
Tel : (20-66) 3336801
Fax : (20-66) 3325956
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, subject is owned and managed by Mr Ahmed Mohamed Abdellatif Ahmed who is
well respected in the local business community.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the business 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$ 150,000
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%)