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MIRA
INFORM REPORT
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Report Date : |
18.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MAHMOUD HASSAN ABD EL GHAFAR IMPORT & EXPORT (MIM) |
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Registered Office : |
39 Ebn Tarrif
Karmouz Street, PO Box 2093, Alexandria |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1996 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of Soft
Linen, Bed Sheets, Table Clothes and Curtains |
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 : MAHMOUD HASSAN ABD EL GHAFAR IMPORT & EXPORT (MIM)
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1996
Invested Capital : £E 50,000
Total Workforce : 8
Activities : Wholesale and retail of soft linen, bed sheets, table clothes and curtains
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
MAHMOUD
HASSAN ABD EL GHAFAR IMPORT & EXPORT (MIM)
ADDRESS
Registered & Physical Address
Location : 39 Ebn Tarrif Karmouz Street
PO Box : 2093
Town : Alexandria
Country : Egypt
Telephone : (20-3) 3611031
Facsimile : (20-3) 3611031
Mobile : (20-12) 3214942
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Alexandria.
KEY PRINCIPALS
Name Position
·
Mahmoud
Hassan Mohamed Abdul El Ghafar Proprietor &
General Manager
·
Intisar
Hassan Mohamed Abdul El Ghafar Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1996
Legal Form :
Sole Proprietorship
Invested Capital
: £E 50,000
Mr Mahmoud Hassan Mohamed Abdul El Ghafar is the sole
proprietor of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of soft linen, bed sheets, table clothes and
curtains.
Import
Countries: India and China
Operating Trend: Steady
Subject has a
workforce of 8 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 7,300,000 £E 7,800,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
· Bank of Alexandria
Alexandria
Tel: (20-3)
4871460 / 4870159 / 4874147 / 4871200
Fax: (20-3)
4868704 / 4871262
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.43.23 |
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UK Pound |
1 |
Rs.80.89 |
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Euro |
1 |
Rs.63.80 |
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%)