MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
TANTA MOTORS COMPANY SAE |
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Registered Office : |
9 El Reyadah Street, Nasr City,
Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1950 |
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Com. Reg. No.: |
78343, Tanta |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacture and export of
agricultural tractors and trailers, as well as being commercial agents for agriculture
equipment and industrial ventilators |
RATING &
COMMENTS
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MIRA’s Rating : |
A |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 1,500,000 |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : TANTA MOTORS COMPANY SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 1950
Commercial Registration Number : 78343, Tanta
Authorised Capital : £E 100,000,000
Issued Capital : £E 47,800,000
Paid up Capital : £E 47,800,000
Total Workforce : 400
Line of Business :
Manufacture and export of agricultural tractors and
trailers, as well as being commercial agents
for
agriculture equipment and industrial ventilators.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
TANTA MOTORS COMPANY SAE
ADDRESS
Registered & Physical Address
Street : 9 El Reyadah Street
Area : Nasr City
Town : Cairo
Country : Egypt
Telephone : (20-2) 4040116
Facsimile : (20-2) 4029060
Email : nasrcity@tantamotors.com
Premises
Subject operates from a large suite of offices, a warehouse and a showroom
that are rented and located in the Industrial Area of Cairo.
Branch Office (s)
Location Description
· Cairo
- Alexandria Agriculture Road Rented
office & showroom
Tanta
Tel:
(20-40) 3322701
Fax:
(20-40) 3322706
· 1st
Industrial Zone Owned
factory premises
Moubarak Industrial City
Quesna
Menoufeya
Tel:
(20-48) 2590035 / 2590005
Fax:
(20-48) 2590035
KEY PRINCIPALS
· Assem
Abd El Qader Abu Fereikha Chairman
· Amr
Assem Abd El Qader Abu Fereikha Managing
Director
· Alaa
Assem Abd El Qader Abu Fereikha Director
· Awatef
Assem Abd El Qader Abu Fereikha Director
· Khaled
Abed Abd El Qader Abu Fereikha Director
· Amal
Abed Abd El Qader Abu Fereikha Director
· Abeer
Assem Abd El Qader Abu Fereikha Director
· Dr. Abd
El Aziz Mahmoud Director
· Dr.
Mahfouz Shalaby Director
· Mohamed
Badawy General
Manager
· Mohamed
Abd El Aziz Commercial
Manager
· Tarek
Ali Abu Fereikha Finance
Manager
· Mohamed
Abd El Raouf Accounts
Manager
· Hany
Abd El Aziz Sales
Manager
· Ayman
Mahfouz Production
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1950
Legal Form : Societe Anonyme
Egyptienne – SAE (Egyptian Joint Stock
Company)
Commercial Reg.
No. : 78343, Tanta
Authorised Capital : £E 100,00,000
Issued Capital : £E 47,800,000
Paid up Capital : £E 47,800,000
Name of Shareholder (s) Percentage
· Assem
Abd El Qader Abu Fereikha 14.0%
· Amr
Assem Abd El Qader Abu Fereikha 12.8%
· Alaa
Assem Abd El Qader Abu Fereikha 12.8%
· Abeer
Assem Abd El Qader Abu Fereikha 6.4%
· Khaled
Abed Abd El Qader Abu Fereikha 13.0%
· Egyptian
businessmen & private investors 41.0%
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe
Anonyme Egyptienne - SAE – should not
be less than £E 500,000 if shares are offered to the public and £E 250,000 if
not. If shares are offered to the public they are freely transferable, if not,
transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the
manufacture and export of agricultural tractors and trailers.
Subject are also commercial
agents for agriculture equipment and industrial ventilators, including
cultivators, alarm mowers, sprayers, hay presses, ploughs mixers, garden
equipment, spray guns, harvesters & excavators, disk harrow and sprayer
pumps.
Import Countries : Spain, France, Germany and Italy.
Export Countries : France, Tunisia, and
Libya.
Subject has a workforce of approximately 400 employees.
FINANCIAL HIGHLIGHTS
Companies registered in Egypt are not legally required to make their
accounts public and no financial information was released by the company or
submitted by outside sources.
BANKERS
·
Banque du Caire SAE
19 Adly Street
Cairo
Tel:
(20-2) 3926915
Fax:
(20-2) 3951713
·
Commercial International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
·
Bank of Alexandria
Nasr
City Branch
Cairo
Tel:
(20-2) 4012542
Fax:
(20-2) 2630464
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Tanta Motors Company SAE is a leading concern in its field with
operations dating back to 1950. The company is engaged
in the manufacture and export of agricultural tractors and trailers, as well as
being commercial agents for agriculture equipment and industrial ventilators.
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.
Maximum suggested credit figure: US$ 1,500,000
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%)