MIRA
INFORM REPORT
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Report Date : |
03.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
GENERAL AUTHORITY FOR SUPPLYING COMMODITIES |
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Registered Office : |
99 Kasr El Aini Street, Garden City,
Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1968 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Import and supply of wheat on behalf of the mills owned by the Ministry of Supply. |
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$ 800,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GENERAL AUTHORITY FOR SUPPLYING COMMODITIES
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1968
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
Total Workforce : 630
Activities :
Import and supply of wheat on behalf of the mills
owned by the Ministry of Supply.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 800,000
COMPANY NAME
GENERAL AUTHORITY FOR SUPPLYING
COMMODITIES
ADDRESS
Registered & Physical Address
Street : 99 Kasr El Aini Street
Area : Garden City
Town : Cairo
Country : Egypt
Telephone : (20-2) 27960677 / 27960766 / 27960655 / 27960633
Facsimile : (20-2) 27961255
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
· 30 El
Amnsheya Square Rented
office premises
Alexandria
KEY PRINCIPALS
Name Position
· Rashid
Mohamed Youssef Rashid Managing
Director
· Said
Mahmoud El Hefni Director
· Mamdouh
Abd El Fatah Finance
Manager
· Yaqut
Fathi El Hennawi Purchasing
Manager
· Mossad
Shehata Marketing
Manager
· Noamani
Nasr Noamani Administration
Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1968
Legal Form : Egyptian Joint
Stock Company
Issued Capital : £E 20,000,000
Paid up Capital : £E 20,000,000
Name of Shareholder (s) Percentage
· Ministry
of Trade & Industry 100%
2 Latin America Street
Garden
City
Cairo
Tel:
(20-2) 27943600
Fax:
(20-2) 27946759
OPERATIONS
Activities: Engaged
in the import and supply of wheat on behalf of the mills owned by the Ministry
of Supply.
Import Countries: United States
of America, Australia, India, France, Russia, Kazakhstan, Argentina, Syria, and
Indonesia.
Subject has a workforce of 630 employees.
FINANCIAL DATA
Companies registered in Egypt are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
National Bank of Egypt
24, Sherif Street
Cairo
Tel :
(20-2) 3924175
Fax :
(20-2) 3924143
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel : (20-2)
3912711 / 3912106
Fax : (20-2)
3919779
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1968, the General Authority For Supplying Commodities is engaged in the import and supply of wheat on behalf of the
mills owned by the Ministry of Supply. It is owned by the Ministry of Trade
& Industry, which in turn is a ministry within the Egyptian government.
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.
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%)