MIRA
INFORM REPORT
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Report Date : |
18.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
MINA TRADING COMPANY |
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Registered Office : |
10 Mahmoud Fahmy
El Nokrashy Street, El Manshia, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2000 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Spices
and Herbal Products. |
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$ 125,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : MINA TRADING COMPANY
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2000
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 6
Activities : Import and distribution of spices and herbal products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
MINA TRADING
COMPANY
ADDRESS
Registered & Physical Address
Street : 10 Mahmoud Fahmy El Nokrashy
Street
Area : El Manshia
Town : Alexandria
Country : Egypt
Telephone : (20-3) 4861792
Facsimile : (20-3) 4832992
Mobile : (20-12) 2338089
Premises
Subject operates
from a small suite of offices, a showroom and a warehouse that are rented and
located in the Central Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Mina
Baron Aziz Managing
Partner
·
Shanoda
Baron Aziz Partner
·
Baron
Aziz General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder (s)
·
Mina
Baron Aziz
·
Shanoda
Baron Aziz
OPERATIONS
Activities: Engaged in the import and distribution of spices and herbal products.
Import Countries: Asia and the Far East.
Operating Trend: Steady
Subject has a
workforce of 6 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
5,350,000 £E
5,610,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Suez Canal
Bank
60 El Horreya Road
Raml Station
Alexandria
Tel: (20-3) 4865514
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
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%)