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MIRA
INFORM REPORT
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Report Date : |
12.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EGYPTIAN ARAB GROUP FOR TRADE &
VETERINARY SERVICES (EGAVET) |
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Registered Office : |
106 King Faisal Street, Pyramids, Giza,
Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1992 |
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Com. Reg. No.: |
93669, Giza |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of Veterinary
Products. |
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 : |
EUR 750,000 |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name :
EGYPTIAN ARAB GROUP FOR TRADE &
VETERINARY SERVICES (EGAVET)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1992
Commercial Registration Number : 93669, Giza
Issued Capital : £E 480,000
Paid up Capital : £E 480,000
Total Workforce : 65
Line of Business : import and distribution of veterinary products.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EGYPTIAN ARAB GROUP FOR TRADE &
VETERINARY SERVICES (EGAVET)
ADDRESS
Registered & Physical Address
Street : 106 King Faisal Street
Area : Pyramids, Giza
Town : Cairo
Country : Egypt
Telephone : (20-2) 3847172 / 3837138 / 3840920
Facsimile : (20-2) 3861486
Premises
Subject operates from a medium sized suite of offices that are rented
and located in the Central Business Area of Cairo.
Branch Office (s)
Location Description
·
El Khanka, Abu Zaabal Warehouse
premises
Kaliubeya
KEY PRINCIPALS
· Dr.
Ibrahim Hassan Managing
Partner
· Dr.
Mohamed Awad Partner
· Dr.
Fathi Saad Partner
· Alaa
Hashem Partner
· Adel
Ibrahim Abd El Wahed Finance
Manager
· Gamal Mahmoud Sales
Manager
· Ahmed
Mohamed Said Marketing
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1992
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 93669, Giza
Issued Capital : £E 480,000
Paid up Capital : £E 480,000
Name of Partner (s)
· Dr.
Ibrahim Hassan
· Dr.
Mohamed Awad
· Dr.
Fathi Saad
· Alaa
Hashem
LINE OF BUSINESS
Operations : Engaged in the import
and distribution of veterinary products, including drugs,
animal feed additives,
disinfectants, milk replacers, skimmed milk & veterinary vitamins
Import Countries : France, Belgium, Germany and the United States of
America.
Brand Names : VOREAL, BONILAIT, EWABO,
NUTRI-AD, NUTRISTAR, and LALLEMAND.
Operating Trend : Steady
Subject has a workforce of 65 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue £E
22,175,000 £E
26,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
· Faisal Islamic
Bank of Egypt
1113 Corniche El
Nil Street
Cairo
Tel : (20-2)
2753165
·
Banque Misr
151 Mohamed Farid
Street
Cairo
Tel : (20-2)
3912711 / 3912106
Fax : (20-2)
3919779
· Credit Lyonnais
Bank
3 El Yemen Street
Dokki, Giza
PO Box : 41, Giza
Cairo
Tel : (20-2) 3375624 / 3375638 / 3379622
Fax : (20-2) 3606458
·
Banque du Caire SAE
22 Adly Street
PO Box : 1495
Cairo
Tel : (20-2) 3904554
Fax : (20-2) 3908992
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction July
2005
Credit amount 200,000
Amount overdue 0
Payment terms 180
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency Pounds
Sterling
GENERAL COMMENTS
Opinion on the credit figure of EUR 700,000:
Egyptian Arab Group for Trade &
Veterinary Services (Egavet) was established in 1992 and has made steady
progress in the local market, specialising in the import
and distribution of veterinary products.
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.
Maximum suggested credit figure: EUR 750,000
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%)