MIRA
INFORM REPORT
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Report Date : |
17.10.2007 |
IDENTIFICATION DETAILS
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Name : |
SPEED BIRD TRANS |
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Registered Office : |
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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 : |
Egyptian Joint Stock Company |
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Line of Business : |
Subject offers
shipping, forwarding & customs clearance (road, air & sea transport) services
for furniture, heavy equipment & wood. |
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 : SPEED BIRD TRANS
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1997
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Total Workforce : 20
Line of Business : Shipping, forwarding & customs clearance services
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
SPEED BIRD TRANS
ADDRESS
Registered & Physical Address
Building :
Area : Sheraton,
Town :
Country :
Telephone : (20-2) 22671205
Facsimile : (20-2) 22671205
Premises
Subject operates from a small suite of offices that are rented and
located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
·
Smouha
Tel: (20-3) 3906893 / 3416270
KEY PRINCIPALS
· Mahmoud Abd El Hamid Managing
Director
· Fayez Ghaly Director
· Mohamed Soliman Finance
Manager
· Ossama Abd El Gawad Administration
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1997
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock Company)
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder
(s)
· Mahmoud Abd El Hamid
· Fayez Ghaly
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 : Subject offers
shipping, forwarding & customs clearance (road, air & sea transport)
services for furniture, heavy equipment & wood.
Operating Trend : Steady
Subject has a workforce of 20 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
6,700,000 £E
7,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Egyptian Gulf Bank
El Mansoura
Tel: (20-50)
2314674
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of this investigation nothing detrimental was
uncovered regarding subject’s operating history or the manner in which payments
are fulfilled. As such the company is considered to be a fair trade risk.
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%)