MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
DEGLA FOR IMPORT & EXPORT |
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Registered Office : |
199 Street, Road
No. 100, 1G Ground Floor, Degla, Maadi, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2004 |
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Com. Reg. No.: |
137375, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale of Sesame Seeds and Related Produce |
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$ 100,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DEGLA FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2004
Commercial Registration Number : 137375, Cairo
Invested Capital : £E 30,000
Total Workforce : 3
Activities : Wholesale of sesame seeds and related produce
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
DEGLA
FOR IMPORT & EXPORT
ADDRESS
Registered &
Physical Address
Location : 199 Street, Road No. 100, 1G
Ground Floor, Degla, Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 25241054
Facsimile : (20-2) 25241054
Mobile : (20-12) 4151375
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Maadi.
KEY PRINCIPALS
Name Position
·
Mostafa
Atef Ali Proprietor
& General Manager
·
Atef
Ali Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 2004
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 137375, Cairo
Invested Capital
: £E 30,000
Mr Mostafa Atef Ali is the sole proprietor of the
business.
OPERATIONS
Activities: Engaged in the wholesale of sesame seeds
and related produce.
Import
Countries: China and India
Operating Trend: Steady
Subject has a
workforce of 3 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:
Total Sales £E 4,000,000 £E 5,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Atef Ali, Assistant
General Manager.
BANKERS
·
Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs. 42.37 |
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UK Pound |
1 |
Rs. 84.01 |
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Euro |
1 |
Rs. 65.96 |
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%)