MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EGYPT FRANCE COMPANY |
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Registered Office : |
Abdul Salam Kabli Street, Damanhour, Beheira |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1997 |
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Com. Reg. No.: |
143324 |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Import and
Distribution of Tractors and related Spare Parts. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EGYPT FRANCE COMPANY
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1997
Commercial
Registration Number : 143324
Issued Capital : £E
250,000
Paid up Capital : £E
250,000
Total Workforce : 25
Activities :
Import and distribution of tractors and related spare parts.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 150,000
COMPANY NAME
EGYPT FRANCE COMPANY
ADDRESS
Registered & Physical Address
Street : Abdul Salam
Kabli Street
Area : Damanhour
Town : Beheira
Country : Egypt
Telephone : (20-45) 3344230
Facsimile : (20-45)
3343014
Email : info@egyptfranceco.com
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Beheira.
Branch Office (s)
Location Description
· 66 Abu El Dardaa
Street Rented
office premises
Alexandria 11251
Tel : (20-3) 4807514
KEY PRINCIPALS
Name Position
· Helmy Abd Elmenem
Hamada Managing
Partner
· Salah Abd Elmenem
Hamada Partner
· Ahmed Jouda Commercial
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1997
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 143324
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Shareholder (s)
· Helmy Abd Elmenem
Hamada
· Salah Abd Elmenem
Hamada
OPERATIONS
Activities: Engaged in the import and distribution of tractors and related spare
parts.
Import Countries: Europe and GCC countries.
International Suppliers:
· UTB650 Romania
· Raco Veka Yugoslavia
Operating Trend: Steady
Subject has a workforce of 25 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
9,100,000 £E
9,450,000
Local sources consider subject’s financial condition to be Fair.
The above financial figures are based on estimations by our local
sources.
BANKERS
·
National Bank of Egypt
Itay
El Baroud District
Beheira
Tel:
(20-45) 3432889
Fax:
(20-45) 3434345
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 1997, subject is involved in the import and distribution
of tractors and related spare parts.
Local sources report that the subject’s operating history is clear with
payment obligations met in a generally timely manner. The financial position is
satisfactory and the business is deemed a fair trade risk. As such the above
credit figure is considered to be admissible.
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%)