MIRA
INFORM REPORT
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Report Date : |
06.09.2007 |
IDENTIFICATION DETAILS
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Name : |
INTERNATIONAL
CABLES CO SAE |
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Registered Office : |
102B |
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Country : |
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Date of Incorporation : |
1982 |
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Com. Reg. No.: |
1863, Sharkeya |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged
in the manufacture and export of thermal wires, high frequency cables, motor rolled
wires, low pressure cables, cable immersed in water, telephone cables,
control cables, flexible cables, PVC compound and rubber insulated cables. |
RATING & COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 750,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : INTERNATIONAL CABLES CO SAE
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 1982
Commercial Registration Number : 1863, Sharkeya
Issued Capital : £E 116,000,000
Paid up Capital : £E 116,000,000
Total Workforce : 550
Line of Business : Manufacture and export of cables
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
INTERNATIONAL
CABLES CO SAE
ADDRESS
Registered & Physical Address
Street : 102B
Area :
Town :
Country :
Telephone : (20-2) 2906371
/ 2907257 / 2907258
Facsimile : (20-2) 2904900
Premises
Subject operates
from a large suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
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Industrial Zone A2, Plot 8/6 Owned
factory premises
Sharkeya
Tenth of
Tel: (20-15) 413016 / 413017
Fax: (20-15)
413018
KEY PRINCIPALS
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Mohamed Mamdouh Khalaf Chairman
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Ghassan Bolbol Director
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Moise Teletoille General
Manager
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Philiple Teffon Finance
Manager
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Samir Abd El Maksoud Accounts
Manager
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Abd El Moneim Abd El Aziz Export
Manager
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Medhat Mamdouh Khalaf Factory
Manager
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Baher Arafa Purchasing
Manager
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Antoine Caspar Technical
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 1982
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Commercial Reg. No. : 1863, Sharkiya
Issued Capital : £E 116,000,000
Paid up Capital : £E 116,000,000
Name of Shareholder
(s)
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Mohamed Mamdouh Khalaf
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Lebanon
Cables Company
Tel: (961-1) 350040
Fax: (961-1) 350042
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Nexans
16 Rue Monceau
75008
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 in the
manufacture and export of thermal wires, high frequency cables, motor rolled
wires, low pressure cables, cable immersed in water, telephone cables, control
cables, flexible cables, PVC compound and rubber insulated cables.
Import Countries
:
Export Countries
:
Subject has a
workforce of approximately 550 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
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Commercial
International Bank (CIB)
PO Box : 2430
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
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 and the above credit figure is
within subject’s financial means.
Maximum suggested
credit figure: US$ 750,000
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%)