MIRA
INFORM REPORT
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Report Date : |
13.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL MALEKA FOR SPARE IMPORTATION |
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Registered Office : |
43B El Hamdy Street, El Zaher, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1991 |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Importer and Distributors of Agricultural Machinery, Pumps
and Related Spare Parts. |
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 : |
EUR 85,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : EL MALEKA FOR SPARE IMPORTATION
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1991
Invested Capital : £E 250,000
Total Workforce : 5
Line of Business : Distributors of agricultural machinery, pumps and
related spare parts.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
EL MALEKA FOR SPARE IMPORTATION
ADDRESS
Registered & Physical Address
Street : 43B El Hamdy
Street
Area : El Zaher
Town : Cairo
Country : Egypt
Telephone : (20-2) 4856280
Facsimile : (20-2) 5910365
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Cairo.
KEY PRINCIPALS
· Tadross Zaki Hana Proprietor
& General Manager
· Mohsen Zaki Assistant
General Manager
LEGAL FORM & OWNERS
Date of Establishment : 1991
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Invested Capital : £E 250,000
Mr Tadross Zaki Hana is the sole proprietor of the business.
Note to the Legal Form
Commonly referred to as an establishment, the Company Law defines
Mouassasa Khassa as the business of an individual where liability for all debts
is unlimited. The business is the entire responsibility of its proprietor, who
is liable for all its debts to the extent of his entire wealth. There are no
legal requirements concerning the amount of capital of a sole proprietor.
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
agricultural machinery, pumps and related spare parts.
Import Countries : Europe and the United States of America.
Operating Trend : Steady
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Revenue £E
5,250,000 £E
5,810,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
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 November
2005
Credit amount 100,000
Amount overdue 0
Payment terms 60
days
Payment Method Letters
of Credit
Paying record No
Complaints
Currency US
Dollars
GENERAL COMMENTS
Opinion on the credit figure of EUR 50,000:
Established in 1991, subject is owned and managed by Mr Tadross Zaki
Hana who is well respected in the local business community.
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 business is considered to be a fair trade risk.
Maximum suggested credit figure: EUR 85,000
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%)