MIRA
INFORM REPORT
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Report Date : |
21.08.2008 |
IDENTIFICATION
DETAILS
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Name : |
NORTH AMERICA TRADE & IMPORT |
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Registered Office : |
24 El Sharea El
Harby Street, Damietta |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1998 |
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Com. Reg. No.: |
48227 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Manufacturers of Jute and Yarn Bags and Sacks. |
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 : NORTH AMERICA TRADE & IMPORT
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1998
Commercial Registration Number : 48227
Tax Card Number : 479066302
Invested Capital : £E 250,000
Total Workforce : 50
Activities : Manufacturers of jute and yarn bags and sacks.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 150,000
COMPANY NAME
NORTH AMERICA TRADE
& IMPORT
ALSO KNOWN AS
EL KAZAZ TRADING
GROUP
ADDRESS
Registered & Physical Address
Location : 24 El Sharea El Harby Street
Town : Damietta
Country : Egypt
Telephone : (20-57) 358944
Facsimile : (20-57) 337479
Premises
Subject operates
from a small suite of offices that are rented and located in the Central
Business Area of Damietta.
Branch Office (s)
Location Description
·
69 El Sharea El
Harby Street Factory
premises
Damietta
·
Industrial
Zone Factory
premises
Talaat Harb Street
Damietta
KEY PRINCIPALS
·
Mohamed
Mohamed El Kazaz Proprietor
& General Manager
·
Mahmoud Ismail Finance
Manager
·
Mohamed Mahran Public
Relations Manager
LEGAL FORM & OWNERS
Date of Establishment : 1998
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 48227
Tax Card No. : 479066302
Invested Capital
: £E 250,000
Mr Mohamed Mohamed El
Kazaz is the sole proprietor of the business.
OPERATIONS
Activities: Engaged in the manufacture of jute and yarn
bags and sacks.
Import
Countries: Libya, Syria,
India and Bangladesh.
Operating Trend: Steady
Subject has a
workforce of 50 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 8,600,000 £E 9,230,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
·
Banque Misr
35 Saad Zaghloul Street
Damietta
Tel : (20-57) 333639
Fax : (20-57) 322840
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in
1998, subject is owned and managed by Mr Mohamed Mohamed El Kazaz who is well
respected in the local business community.
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%)