MIRA
INFORM REPORT
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Report Date : |
01.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL REHAB MOHAMED MOHAMED MOUSTAFA & PARTNERS |
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Registered Office : |
El Masagria Building, 2nd Floor, El Sultan Hussein & Hafez
Ibrahim Street, El Sharq, Port Said |
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Country : |
Egypt |
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Date of Incorporation : |
1990 |
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Legal Form : |
General Partnership |
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Line of Business : |
Distributors of General Foodstuff Products |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name : EL REHAB MOHAMED MOHAMED MOUSTAFA & PARTNERS
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1990
Partners Capital : £E 20,000
Total Workforce : 6
Line of Business : Distributors of general foodstuff products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL REHAB MOHAMED MOHAMED MOUSTAFA & PARTNERS
ADDRESS
Registered & Physical Address
Building : El Masagria
Building, 2nd Floor
Street : El Sultan
Hussein & Hafez Ibrahim Street
Area : El Sharq
Town : Port Said
Country : Egypt
Telephone : (20-66) 3225707
/ 3762108
Facsimile : (20-66)
3323651
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Port Said.
KEY PRINCIPALS
· Mohamed Mohamed
Moustafa Managing
Partner
· Ibrahim Mohamed Moustafa Partner
· Hany Ibrahim
Moustafa General
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1990
Legal Form : Sharikat Tadhamun
(General Partnership)
Partners Capital : £E 20,000
Name of Partner (s)
· Mohamed Mohamed
Moustafa
· Ibrahim Mohamed
Moustafa
Note to the Legal
Form
The Company Law
defines “Sharikat Tadhamun” as a company established between two or more
general partners who will jointly and unlimitedly, to the extent of their personal
assets, be responsible for the liabilities of the company. Creditors may claim
the debts from either the company as a separate legal entity or from the
general partners.
Notwithstanding
the English translation of its name, this type of company should not be
compared to the partnership concept under English Law. A Sharikat Tadhamun is
considered a company and has the attributes of a corporation similar to that of
a partnership under Scottish Law or to the “Societe en Nom Collectif” under
French Law.
There are no
legal requirements concerning the amount of capital of a general partnership.
The shares of each partner, presented in cash, kind or rights, must not be
issued in the form of negotiable instruments, nor can they be transferred or
assigned without the unanimous approval of the partners unless the memorandum
specifically provides otherwise.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general
foodstuff products, including
sugar, tea, coffee, cheese and spices.
Import Countries : India, Vietnam, Denmark, Brazil and Indonesia.
Operating Trend : Steady
Subject has a workforce of 6 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue £E
4,890,000 £E
5,230,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab Investment Bank
30 El Nahda Street
Port Said
Tel : (20-66)
3327758
Fax : (20-66)
3320208
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 1990, subject is involved in the import and distribution
of general foodstuff products, including sugar, tea, coffee, cheese and spices.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the business is
deemed a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 100,000
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%)