MIRA
INFORM REPORT
|
Report Date : |
15.02.2008 |
IDENTIFICATION
DETAILS
|
Name : |
KING SEED FOR PRODUCE AGRICULTURAL SEEDS |
|
|
|
|
Registered Office : |
El Farg Building, 6th Floor, International Bus Station Street, Mansoura |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
2001 |
|
|
|
|
Legal Form : |
Sole Proprietorship |
|
|
|
|
Line of Business : |
Traders of Agricultural Seeds and Crops. |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name :
KING SEED FOR PRODUCE AGRICULTURAL SEEDS
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 2001
Invested Capital : £E 100,000
Total Workforce : 10
Line of Business : Traders of agricultural seeds and crops.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
KING SEED FOR PRODUCE AGRICULTURAL SEEDS
ADDRESS
Registered & Physical Address
Building : El Farg Building, 6th Floor
Street : International Bus Station Street
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2236096
Facsimile : (20-50) 2309360
Mobile :
(20-10) 1008905
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Mansoura.
KEY PRINCIPALS
· Dr
Wahba Ali El Sayed El Gazzar Proprietor
& General Manager
LEGAL FORM & OWNERS
Date of
Establishment : 2001
Legal Form : Mouassasa Khassa
(Sole Proprietorship)
Invested Capital : £E 100,000
Dr Wahba Ali El Sayed El Gazzar 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 as traders of agricultural seeds and
crops.
Import Countries : Italy, Turkey and India.
Operating Trend : Steady
Subject has a workforce of 10 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 5,290,000 £E 5,625,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Faisal Islamic Bank of Egypt
1 Talaat Harb
Street
El Mansoura
Tel: (20-50)
2319965
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
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 and
the above credit figure is within subject’s financial means.
Maximum suggested credit figure: US$ 100,000
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)