MIRA
INFORM REPORT
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Report Date : |
11.10.2007 |
IDENTIFICATION DETAILS
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Name : |
AL ABBAS FOR
MARBLE & GRANITE |
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Registered Office : |
13 Street 286,
New Maadi, |
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Country : |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1997 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Engaged in the
cutting and processing of marble and granite. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : AL ABBAS FOR MARBLE & GRANITE
Country of Origin :
Legal Form : Limited Liability Partnership
Registration Date : 1997
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 150
Line of Business : Cutters and processors of marble and granite.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
AL ABBAS FOR MARBLE
& GRANITE
ADDRESS
Registered & Physical Address
Street : 13 Street 286
Area : New Maadi
Town :
Country :
Telephone : (20-2) 27537974
Facsimile : (20-2) 27537941
Mobile : (20-10) 98899080
Email : sales@alabbasmarble.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Offices
Location Description
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Industrial
Area Owned
workshop & warehousing
Shak Al Thoban
Toura
Tel
: (20-2) 2754109
KEY PRINCIPALS
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Abbas
Saeed Abbas Managing
Partner
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Fatma
Saeed Abbas Partner
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Walid
Mohamed Commercial
Manager
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Mohamed
Saeed Production
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1997
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Partner (s)
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Abbas
Saeed Abbas
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Fatma
Saeed Abbas
LINE OF BUSINESS
Operations : Engaged in the cutting and processing of
marble and granite.
Import Countries
: Europe and the Far East.
Brand Names : SILVIA SUNNY, BIANCALIGHT, GALALA, SPHINX
CREAM, PEARL YELLOW, GRAY PEARL, GOLDEN DREAM, ROSA and MADLIN.
Operating Trend
: Steady
Subject has a
workforce of 150 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 31,400,000 £E 32,850,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Misr
International Bank (MIBANK)
14 Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 25931002
Fax : (20-2) 25912306
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 involved in the cutting and processing of marble and granite.
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$ 200,000
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%)