MIRA
INFORM REPORT
|
Report Date : |
10.04.2008 |
IDENTIFICATION
DETAILS
|
Name : |
AL FATH COMPANY FOR IMPORT AND EXPORT SEA FOOD |
|
|
|
|
Registered Office : |
Al Fanar Street, Al Mosalth, Ezbet Borg City, Damietta |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1994 |
|
|
|
|
Legal Form : |
Sole
Proprietorship |
|
|
|
|
Line of Business : |
Import and Export of Seafood and Fishes. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 125,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : AL FATH COMPANY FOR
IMPORT AND EXPORT SEA FOOD
Also Known As : SALAH AL
TAWARGY EST
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1994
Invested Capital : £E 50,000
Total Workforce : 10
Activities :
Import and export of seafood and fishes.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 125,000
COMPANY NAME
AL FATH COMPANY FOR IMPORT AND EXPORT SEA FOOD
ALSO KNOWN AS
SALAH AL TAWARGY EST
ADDRESS
Registered & Physical Address
Street : Al Fanar
Street
Area : Al Mosalth,
Ezbet Borg City
Town : Damietta
Country : Egypt
Telephone : (20-57) 2712000
Facsimile : (20-57)
2713000
Mobile : (20-10)
5188029
Email : mahmoud_bdc@yahoo.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Suburban Business Area of Damietta.
KEY PRINCIPALS
Name Position
· Salah
Eddine Abdullatif Al Tawargy Proprietor
& General Manager
· Mahmoud
Salama Assistant
General Manager
LEGAL FORM &
OWNERS
Date of
Establishment : 1994
Legal Form : Sole
Proprietorship
Invested Capital : £E 50,000
Mr Salah Eddine Abdullatif Al Tawargy
is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the import and export of seafood
and fishes.
Import Countries: Europe and Asia.
Operating Trend: Steady
Subject has a workforce of 10 employees.
FINANCIAL DATA
Financial highlights provided by local sources are given below:
Currency: Egyptian Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Sales £E
5,285,000 £E
5,750,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
Egyptian Saudi Finance Bank
60 Mohey El Din
Abou El Ezz Street
Dokki, Giza
Cairo
Tel: (20-2)
37481222
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 business is considered to be a fair trade risk and
the above credit figure is within subject’s financial means.
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)