MIRA
INFORM REPORT
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Report Date : |
05.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL OBOUR COMPANY FOR PAPER PRODUCTION SAE |
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Registered Office : |
37 Ismail Ramsey Street, Heliopolis, Cairo 11531 |
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Country : |
Egypt |
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Date of Incorporation : |
2002 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Manufacturers of paper rolls. |
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 : |
Regular |
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Litigation : |
Clear |
SUMMARY
Company Name :
EL OBOUR COMPANY FOR PAPER PRODUCTION
SAE
Country of Origin :
Egypt
Legal Form :
Egyptian Joint Stock Company
Registration Date :
2002
Issued Capital :
£E 500,000
Paid up Capital :
£E 500,000
Total Workforce :
50
Line of Business :
Manufacturers of paper rolls.
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
EL OBOUR COMPANY FOR PAPER PRODUCTION SAE
ADDRESS
Registered & Physical Address
Street : 37 Ismail
Ramsey Street
Area : Heliopolis
Town : Cairo 11531
Country : Egypt
Telephone : (20-2) 6440085
Facsimile : (20-2) 6397556
Email : sfosman@link.net
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
· Industrial Area Factory
premises
El Obour City
KEY PRINCIPALS
· Sherif Farooq
Osman Chairman
· Somya Salahuddine Administration
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2002
Legal Form : Societe Anonyme
Egyptienne - SAE (Egyptian Joint Stock
Company)
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
· Sherif Farooq
Osman
· Egyptian
businessmen & private investors
AFFILIATED COMPANIES
· Super Plast
Cairo
LINE OF BUSINESS
Operations : Engaged in the manufacture of paper rolls.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 50 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year
Ending 31/12/05 : Year
Ending 31/12/06 :
Total Revenue £E
18,200,000 £E 19,650,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Suez Canal Bank
PO Box : 2620
Cairo
Tel : (20-2)
5769296
Fax : (20-2)
5322064
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Established in 2002, subject is involved in the manufacture of paper
rolls.
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.
Maximum suggested credit figure: US$ 150,000
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%)