MIRA
INFORM REPORT
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Report Date : |
04.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
TRAG LTD |
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Registered Office : |
64 Mohamed Kamel
Husein Street, El Nozha El Gedida, Heliopolis, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1994 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Raw Materials for the Pharmaceutical
Industry |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : TRAG LTD
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1994
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 20
Activities : Import and distribution of raw materials for the pharmaceutical industry
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
TRAG LTD
ADDRESS
Registered & Physical Address
Street : 64 Mohamed Kamel Husein Street
Area : El Nozha El Gedida,
Heliopolis
Town : Cairo
Country : Egypt
Telephone : (20-2) 26221641
/ 26222311
Facsimile : (20-2) 26221640
Mobile : (20-10) 5306664
Email : trag@tragfocus.com
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
KEY PRINCIPALS
Name Position
·
Dr
Ramzy Abdul Majeed Hagag Managing
Partner
·
Dr
Tamer Abdul Majeed Hagag Partner
·
Ms Hadeel Mohd Executive
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1994
Legal Form :
Limited Liability
Partnership
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder (s)
·
Dr
Ramzy Abdul Majeed Hagag
·
Dr
Tamer Abdul Majeed Hagag
OPERATIONS
Activities: Engaged in the import and distribution of
raw materials for the pharmaceutical industry.
Import
Countries: India and Europe
Operating Trend: Steady
Subject has a
workforce of 20 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 7,800,000 £E 9,400,000
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.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.42.40 |
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UK Pound |
1 |
Rs.83.57 |
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Euro |
1 |
Rs.66.02 |
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%)