MIRA
INFORM REPORT
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Report Date : |
15.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
GOLDEN SPHINX TRADING CO |
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Registered Office : |
Al Haram Building, 18 Riyad Abd Salam Aref,
Port Said |
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Country : |
Egypt |
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Date of Incorporation : |
April 2007 |
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Com. Reg. No.: |
2099, Port Said |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Cosmetics,
Beauty Products and General Foodstuff. |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 70,000 |
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Status : |
New and Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : GOLDEN SPHINX TRADING CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : April 2007
Commercial Registration Number : 2099, Port Said
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 5
Activities : Import and distribution of cosmetics, beauty products and general foodstuff.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 70,000
COMPANY NAME
GOLDEN SPHINX TRADING CO
ADDRESS
Registered & Physical Address
Building : Al Haram
Building
Street : 18 Riyad Abd Salam Aref
Town : Port Said
Country : Egypt
Mobile : (20-12)
1617400 / (20-10) 7103300
Email : walidkhodair@sphinxgarment.com.eg
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Port Said.
Branch Office (s)
Location Description
· Borg
El Madina El Manwara Building Sales
Office
22 Shabin El Kom Street
Ismailia
Tel:
(20-64) 3347800
Fax:
(20-64) 3347800
KEY PRINCIPALS
Name Position
· Walid
Khodair Managing
Partner
· Hussain
Al Saqqa Partner
LEGAL FORM & OWNERS
Date of
Establishment : April 2007
Legal Form : Limited Liability
Partnership
Commercial Reg.
No. : 2099, Port Said
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder (s)
· Walid
Khodair
· Hussain
Al Saqqa
AFFILIATED COMPANIES
· Sphinx
Readymade Garments
Public Free Zone
Ismailia
Tel:
(20-64) 3482983
Fax:
(20-64) 3482984
OPERATIONS
Activities: Engaged in the import and distribution of cosmetics,
beauty products and general foodstuff.
Import Countries: France, Italy, Spain and the Far East.
Subject has a workforce of 5 employees.
FINANCIAL DATA
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
National Societe General Bank
58 El Goumhoria
Street
Port Said
Tel: (20-66)
3390100
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Golden Sphinx Trading Co is a newly established business with operations
commencing in April 2007. It is engaged in the
import and distribution of cosmetics, beauty products
and general foodstuff.
According to local sources subject is making steady progress in the
local business market and nothing detrimental has been reported regarding the
manner in which payments are fulfilled. As such the business is considered to
be a fair trade risk, however a measure of caution would be prudent given the
lack of financial and payment due to the short operating history.
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%)