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MIRA
INFORM REPORT
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Report Date : |
19.09.2007 |
IDENTIFICATION DETAILS
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Name : |
MANSOURA FOR RESINS & CHEMICAL INDUSTRIES CO SAE
(M.R.I.) |
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Registered Office : |
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Country : |
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Date of Incorporation : |
2000 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture
of industrial formalin material and powder used in making cooking utensil hands,
urea press powder and form urea used in making trays, ashtrays and toilet
sets covers which are thermal insulating materials. |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
MANSOURA
FOR RESINS & CHEMICAL INDUSTRIES CO SAE
(M.R.I.)
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Authorised Capital : £E 50,000,000
Issued Capital : £E 14,000,000
Paid up Capital : £E 14,000,000
Total Workforce : 300
Line of Business : Manufacture of industrial formalin material and urea powder
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
MANSOURA FOR RESINS & CHEMICAL INDUSTRIES CO SAE
(M.R.I.)
ADDRESS
Registered & Physical Address
Street :
Area : Sandoub,
Dakahleya
PO Box : 79
Town : Mansoura
Country :
Telephone : (20-50) 2242630
/ 2244202 / 2257614 / 2260857 / 2233152
Facsimile : (20-50) 2244744
Email : admt@mriegypt.com
Premises
Subject operates
from a large suite of offices and a factory that are owned and located in the
Industrial Area of Mansoura.
Branch Office (s)
Location Description
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8 Shooting Club Street Rented
office premises
Dokki,
Tel: (20-2)
37622025
Fax: (20-2)
37622175
KEY PRINCIPALS
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Kusum Lata Agrawal Chairman
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Papa Goury Schlem Director
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Kapil Agrawal Director
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Ashok Bafiga Director
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K. N. Agrawal Director
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Mahmoud Sharara Finance
Manager
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Iman Abd El Moattie Accounts
Manager
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Hassan Abu El Farag Marketing
Manager
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Youssef Abd El Hay Production
Manager
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Abd El Khliek El Banna Purchasing
Manager
LEGAL FORM &
OWNERS
Date of Establishment : 2000
Legal Form :
Societe Anonyme Egyptienne
– SAE (Egyptian Joint Stock Company)
Authorised
Capital : £E 50,000,000
Issued Capital : £E 14,000,000
Paid up Capital : £E 14,000,000
Name of Shareholder
(s) Percentage
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Industrial Investments Group, Egypt
99.0%
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Kusum Lata Agrawal 0.5%
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Kapil Agrawal 0.5%
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 of industrial formalin material and powder used in making cooking
utensil hands, urea press powder and form urea used in making trays, ashtrays
and toilet sets covers which are thermal insulating materials.
Import Countries
:
Subject has a
workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in
BANKERS
·
National
Bank of
Mansoura
Dakahleya
Tel: (20-50) 2233792
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Bank of
Mansoura
Tel: (20-50)
2266016 / 2266017
Fax: (20-50)
2376000 / 2377076
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National Societe Generale Bank
Mansoura
Tel: (20-50)
2280000
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$ 250,000
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%)