MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
MOSTAFA EL SHEIKH SONS CO FOR IMPORT & EXPORT |
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Registered Office : |
449 Port Said
Street, El Azher, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1988 |
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Com. Reg. No.: |
369788, Cairo |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of General Agricultural
Crops, as well as Dried Foods and Nuts. |
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 : MOSTAFA EL SHEIKH SONS CO FOR IMPORT & EXPORT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Start Date : 1988
Registration Date : 13th July 2005
Commercial Registration Number : 369788, Cairo
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 10
Activities : Distributors of general agricultural crops, as well as dried foods and nuts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
MOSTAFA EL SHEIKH
SONS CO FOR IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : 449 Port Said Street
Area : El Azher
Town : Cairo
Country : Egypt
Telephone : (20-2) 25918123
Facsimile : (20-2) 25887915
Mobile : (20-10) 1445698 / 6233188
Email : mostafaelsheikhsons@hotmail.com
Premises
Subject operates from
a small suite of offices and a warehouse that are rented and located in the
Central Business Area of Cairo.
Branch Office (s)
Location Description
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8 El Hamzawi
El Shagir Street Office
premises
Cairo
Tel : (20-2) 25918737
KEY PRINCIPALS
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Ahmed
Mostafa Mohamed El Sheikh Managing
Partner
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Mohamed
Mostafa Mohamed El Sheikh Partner
·
Mostafa
Mohamed El Sheikh Partner
LEGAL FORM & OWNERS
Date of Establishment : 1988
History : Subject began in 1988 under the name “Emad Abdulrahman & Partner”. However subject was
reregistered on 13th July 2005 when Mr Emad Abdulrahman left the
company and changed names to the
current style of “Mostafa El Sheikh Sons Co for Import & Export”.
Legal Form :
Limited Liability Partnership
Commercial Reg. No. : 369788, Cairo
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
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Ahmed
Mostafa Mohamed El Sheikh
·
Mohamed
Mostafa Mohamed El Sheikh
·
Mostafa
Mohamed El Sheikh
OPERATIONS
Activities: Engaged in the import and distribution of general agricultural crops, as well as dried foods and
nuts.
Import
Countries: Europe and GCC
countries.
Operating Trend: Steady
Subject has a
workforce of 10 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 15,000,000 £E 20,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1988, subject is involved in the import and distribution of general agricultural crops, as well as dried foods and
nuts.
Local sources
report that payment obligations are met in a generally timely manner and the
operating history is clear. As such the company is deemed a fair trade risk and
the above credit figure is considered to be 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.43.58 |
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UK Pound |
1 |
Rs.81.43 |
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Euro |
1 |
Rs.64.52 |
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%)