MIRA
INFORM REPORT
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Report Date : |
19.11.2007 |
IDENTIFICATION
DETAILS
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Name : |
BADAWY FOUNDATION
FOR IMPORT AND EXPORT |
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Registered Office : |
4 Ohod Street, El
Hosania, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1992 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Engaged in the
import and distribution of agricultural machinery and related spare parts. |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BADAWY FOUNDATION FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1992
Invested Capital : £E 100,000
Total Workforce : 10
Line of Business : Distributors of agricultural machinery and related spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
BADAWY FOUNDATION
FOR IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Street : 4 Ohod Street
Area : El Hosania
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2218230
Facsimile : (20-50) 2217433
Mobile : (20-12) 8747450
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Mansoura.
KEY PRINCIPALS
·
Ibrahim Abdo
Badawy Proprietor
& General Manager
·
Abdo El Sayed Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1992
Legal Form :
Mouassasa Khassa (Sole
Proprietorship)
Invested Capital
: £E 100,000
Mr Ibrahim Abdo
Badawy 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
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Badawy For
Trading & Engineering
4 Ohod Street
El Hosania
Mansoura
Tel : (20-45) 2218230
Fax : (20-45) 2217433
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
agricultural machinery and related spare parts.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 10 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 4,790,000 £E
5,000,000
Local sources consider
subject’s financial condition to be Fair.
BANKERS
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BNP Paribas
Bank
113 El Gomhoria Street
Mansoura
Tel : (20-50) 2372903
Fax
: (20-50) 2372906
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in
1992, subject is involved in the import and distribution of agricultural
machinery and related spare parts.
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$ 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%)