MIRA
INFORM REPORT
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Report Date : |
01.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
SHOTMED PAPER INDUSTRIES |
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Registered Office : |
3rd
Industrial Zone, Plot 156, 6th of October City |
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Country : |
Egypt |
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Year of Establishment : |
2007 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Processing and Converting of Paper Rolls into a range of Paper Products |
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$ 60,000 |
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Status : |
Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : SHOTMED PAPER INDUSTRIES
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2007
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 30
Activities : Processing and converting of paper rolls into a range of paper products
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 60,000
COMPANY NAME
SHOTMED PAPER INDUSTRIES
ADDRESS
Registered &
Physical Address
Location : 3rd
Industrial Zone, Plot 156
Town : 6th
of October City
Country : Egypt
Telephone : (20-2) 38342250
Facsimile : (20-2) 38334744
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of the 6th of October City.
KEY PRINCIPALS
Name Position
·
Tharwat
Shoukry Salama Chairman
·
Medhat
Shoukry Salama Vice
Chairman
·
Tarek
El Badry Finance
Manager
·
Ahmed
Khodeir Sales
Manager
·
Samy
Sanad Purchasing
Manager
·
Mohamed
Tawfik Montasser Administration
Manager
·
Mona
Hassan Commercial
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2007
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
·
Tharwat
Shoukry Salama
·
Medhat
Shoukry Salama
OPERATIONS
Activities: Engaged in the processing
and converting of paper rolls into a range of paper products.
Import
Countries: India and the
United States of America
Subject has a
workforce of 30 employees.
FINANCIAL DATA
Subject is a newly
formed business and as a result financial information is not currently
available.
BANKERS
·
National
Societe Generale Bank
Banks Area, Giza
6th of October
Tel: (20-2) 38281600
·
Credit
Agricole Egypt
Banks Area, Giza
6th of October
Tel: (20-2) 38332794
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
In view of
subject’s infancy, extensive payment and financial are not available, therefore
dealings are recommended to be on secured terms, and a close monitoring of
subject’s business development is advisable.
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%)