MIRA
INFORM REPORT
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Report Date : |
08.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL GHARBEYA FOR CHEMICALS COMPANY |
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Registered Office : |
El Zohour Towers, Office No. 208, Mansoura Road, Mehalla,
Gharbeya |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1986 |
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Com. Reg. No.: |
4896, Gharbeya |
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Legal Form : |
General Partnership |
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Line of Business : |
Import and Distribution of Dyes
and Chemicals |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EL GHARBEYA FOR CHEMICALS COMPANY
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1986
Commercial Registration Number : 4896, Gharbeya
Partners Capital : £E 750,000
Total Workforce : 30
Activities : Import and distribution of dyes and chemicals
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
EL GHARBEYA FOR CHEMICALS COMPANY
ADDRESS
Registered & Physical Address
Building : El Zohour Towers, Office No. 208
Street : Mansoura Road
Area : Mehalla
Town : Gharbeya
Country : Egypt
Telephone : (20-40) 2225764 / 2225765
Facsimile : (20-40) 2227300
Mobile :
(20-12) 3242462
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Gharbeya.
Branch Office (s)
Location Description
· 34, 23rd
July Street Rented
warehouse premises
El
Mehalla El Kobra
El
Mehalla
Gharbeya
Tel:
(20-40) 2232470
Fax:
(20-40) 2239052
KEY PRINCIPALS
Name Position
· Adel
Fouad Fouda Managing
Partner
· Mohamed Fouad Fouda Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1986
Legal Form : General
Partnership
Commercial Reg.
No. : 4896, Gharbeya
Partners Capital : £E 750,000
Name of Partner (s) Percentage
· Adel
Fouad Fouda 50%
· Mohamed
Fouad Fouda 50%
OPERATIONS
Activities: Engaged in the import and distribution of
dyes and chemicals for the textile industry and its accessories.
Import Countries: India, China, Turkey,
Germany and the United Kingdom.
Operating Trend: Steady
Subject has a workforce of 30 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales £E
9,200,000 £E
10,000,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Banque du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel: (20-2) 3904554
Fax: (20-2) 3908992
·
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
El Gharbeya For Chemicals Company has been in business for approximately
20 years and specialises in the import and
distribution of dyes and chemicals.
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%)