MIRA
INFORM REPORT
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Report Date : |
09.10.2007 |
IDENTIFICATION DETAILS
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Name : |
CONRAD |
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Registered Office : |
1191 Corniche El
Nile, |
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Country : |
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Date of Incorporation : |
1999 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged as
operators of a five star hotel |
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$ 350,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
CONRAD
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1999
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Total Workforce : 400
Line of Business : Operators of a five star hotel.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
CONRAD
ADDRESS
Registered & Physical Address
Location : 1191 Corniche El
Town :
Country :
Telephone : (20-2) 25808000 / 25808004 / 25808130
Facsimile : (20-2) 25808080 / 25808181
Email : cairoinfo@conradhotels.com
Premises
Subject operates
from a large hotel that is owned and located in the Central Business Area of
Cairo.
KEY PRINCIPALS
·
Yan Mondiyak General
Manager
·
Ayman Abdulaziz Assistant
General Manager
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Medhat Yousef Finance
Manager
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Ali Ahmed Purchasing
Manager
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Reda Allam Reservation
Manager
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Gamal Saad Public
Relations Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1999
Legal Form :
Societe Anonyme Egyptienne
- SAE (Egyptian Joint Stock Company)
Issued Capital : £E 10,000,000
Paid up Capital : £E 10,000,000
Name of Shareholder
(s)
·
International Co For Tourism &
Investment (ICTI)
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Banque Misr
·
Misr Insurance
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged as operators of a five star hotel
which has 617 rooms, casino, health club and spa, meeting rooms, bars and
restaurants.
Subject has a
workforce of approximately 400 employees.
FINANCIAL
HIGHLIGHTS
Companies
registered in
BANKERS
·
Misr
International Bank (MIBANK)
PO Box : 631
Tel : (20-2) 25931002
Fax : (20-2) 25912306
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Established in
1999, subject acts as operators of a five star hotel that has 617 rooms, casino,
health club and spa, meeting rooms, bars and restaurants.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner.
Maximum suggested
credit figure: US$ 350,000
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%)