MIRA
INFORM REPORT
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Report Date : |
24.12.2008 |
IDENTIFICATION DETAILS
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Name : |
ENKANA PRINTING INKS |
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Registered Office : |
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Country : |
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Financials (as on) : |
31.12.2007 |
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Year of Establishment : |
2000 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture of inks and printing inks |
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$ 175,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ENKANA PRINTING INKS
Country of Origin :
Legal Form : Egyptian Joint Stock Company
Registration Date : 2000
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 30
Activities : Manufacture of inks and printing inks
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 175,000
COMPANY NAME
ENKANA PRINTING
INKS
ADDRESS
Registered & Physical
Address
Street :
Area : 4th Industrial Zone
Town :
Country :
Telephone : (20-2) 25908437 / 25904504
Facsimile : (20-2) 25908437 / 25904504
Email : takla@internetegypt.com
Premises
Subject operates
from a medium sized suite of offices and a factory that are rented and located
in the Industrial Area of Cairo.
KEY PRINCIPALS
Name Position
·
Emad Takla Managing
Director
·
Atif Hassan General
Manager
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Ms Hana Murtada Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 2000
Legal Form :
Egyptian Joint Stock
Company
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder
(s)
·
Emad Takla
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Egyptian
businessmen & private investors
OPERATIONS
Activities: Engaged in the manufacture of inks and
printing inks.
Import
Countries:
Operating Trend: Steady
Subject has a workforce
of 30 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 7,100,000 £E 8,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
BANKERS
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Commercial
International Bank (CIB)
PO Box : 2430
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
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.48.99 |
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1 |
Rs.72.49 |
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Euro |
1 |
Rs.68.44 |
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%)