MIRA
INFORM REPORT
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Report Date : |
13.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL ENANI COMPANY FOR IMPORT AND EXPORT |
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Registered Office : |
Shimy
Road, Badrashein, Giza, PO Box
228, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1978 |
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Com. Reg. No.: |
268577 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import, Packaging and Distribution
of Tea |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL ENANI COMPANY FOR IMPORT AND EXPORT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1978
Commercial Registration Number : 268577
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
Total Workforce : 210
Activities : Import, packaging and distribution of tea
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
EL ENANI COMPANY
FOR IMPORT AND EXPORT
ADDRESS
Registered & Physical Address
Street : Shimy
Road
Area : Badrashein,
Giza
PO Box : 228
Town : Cairo
Country : Egypt
Telephone : (20-2) 38034961
/ 38034962 / 38034963
Facsimile : (20-2) 38024292
Mobile : (20-12) 0329004
Email : enanico@access-com.eg
Premises
Subject operates
from a large suite of offices that are rented and located in the Suburban
Business Area of Cairo.
Branch Office (s)
Location Description
·
10
El Gomhoureya Street Rented
sales office
Badrashein,
Giza
Tel: (20-2) 38334118
Fax: (20-2) 38334589
·
3rd
Industrial Zone Owned
factory premises
6th of October City
KEY PRINCIPALS
Name Position
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Adel
Abbass Abd El Fattah El Enani Managing
Partner
·
Abd
El Raouf Abd El Fattah El Enani Partner
·
Mohamed
Abbass El Enani Partner
·
Abd
El Sattar El Sayed Finance
Manager
·
Bayoumi
Ali Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1978
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 268577
Issued Capital : £E 300,000
Paid up Capital : £E 300,000
Name of Shareholder (s)
·
Adel
Abbass Abd El Fattah El Enani
·
Abd
El Raouf Abd El Fattah El Enani
·
Mohamed
Abbass El Enani
OPERATIONS
Activities: Engaged in the
import, packaging and distribution of tea.
Import Countries: India and Kenya
Brand Names: EL WARDA
Operating Trend: Steady
Subject has a
workforce of approximately 210 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 28,300,000 £E 35,000,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
National Bank of
Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
·
Societe Arabe Internationale De Banque
56 Gamaet El Dewal El Arabia
Street
Mohandeseen,
Giza
Cairo
Tel:
(20-2) 37499463
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction November
2007
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
El Enani Company
For Import And Export is well established in the local market with operations
dating back to 1978. The company specialises in the import,
packaging and distribution of tea.
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.42.67 |
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UK Pound |
1 |
Rs.80.92 |
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Euro |
1 |
Rs.63.71 |
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%)