MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOHAMED MAGDY SODEK EL SAYED |
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Registered Office : |
Salama Hegazi Street, Al Hussainia
Area, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
1964 |
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Legal Form : |
Sole
Proprietorship |
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Line of Business : |
Wholesale and Distribution of Agricultural Equipment and 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$ 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 : MOHAMED MAGDY SODEK
EL SAYED
Country of Origin : Egypt
Legal Form :
Sole Proprietorship
Registration Date : 1964
Invested Capital : £E 30,000
Total Workforce : 5
Activities :
Wholesale and distribution of agricultural equipment
and spare parts
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit
Limit : US$ 125,000
COMPANY NAME
MOHAMED MAGDY SODEK EL SAYED
ADDRESS
Registered &
Physical Address
Street : Salama Hegazi Street
Area : Al Hussainia Area
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2377347
Facsimile : (20-50) 2331911
Mobile : (20-12) 3305672
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Mansoura.
KEY PRINCIPALS
Name Position
· Mohamed
Magdy Sodek El Sayed Proprietor
& General Manager
· Sayed
Mohamed Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1964
Legal Form : Sole
Proprietorship
Invested Capital : £E 30,000
Mr Mohamed Magdy Sodek El Sayed is the
sole proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and distribution of
agricultural equipment and spare parts.
Import Countries: India and China
Operating Trend: Steady
Subject has a workforce of 5 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
8,600,000 £E
8,850,000
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
55 El Kholafaa El Rashedeem Street
Mansoura
Tel: (20-50) 2233792
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.
GENERAL COMMENTS
Please note that the address you supplied, 43 El Modjria El Kady,
Mansoura is the private residence of Mr Mohamed Magdy
Sodek El Sayed.
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%)