MIRA
INFORM REPORT
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Report Date : |
25.04.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL HADISA CO |
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Registered Office : |
14-16 Tawafakya
Street, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2003 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Wholesale and Retail of Auto
Spare Parts and Related Accessories |
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 : EL HADISA CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2003
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 7
Activities : Wholesale and retail of auto spare parts and related accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 125,000
COMPANY NAME
EL
HADISA CO
ADDRESS
Registered & Physical Address
Location : 14-16 Tawafakya Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 25777130
Facsimile : (20-2) 25777130
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
George
Abdul Masih Managing
Partner
·
Suhil
Abdul Masih Partner
LEGAL FORM & OWNERS
Date of Establishment : 2003
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Name of Shareholder (s)
·
George
Abdul Masih
·
Suhil
Abdul Masih
OPERATIONS
Activities: Engaged in the wholesale and retail of auto spare parts and related accessories. Subject
specialises in Peugeot parts.
Import
Countries: France, Germany
and Italy.
Operating Trend: Steady
Subject has a
workforce of 7 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:
Total Sales £E 4,200,000 £E 5,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Misr
International Bank (MIBANK)
14, Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 5931002
Fax : (20-2) 5912306
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%)