MIRA
INFORM REPORT
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Report Date : |
19.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ORIENT STEEL |
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Registered Office : |
22/6 El Takaa
Street, Nasr City, 8th District, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31/12/2007 |
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Date of Incorporation : |
2005 |
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Com. Reg. No.: |
4958, Nasr City |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributor of stainless materials |
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 : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ORIENT STEEL
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2005
Commercial Registration Number : 4958, Nasr City
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 7
Line of Business : Distributor of stainless materials
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ORIENT STEEL
ADDRESS
Registered & Physical Address
Street : 22/6 El Takaa Street
Area : Nasr City, 8th
District
Town : Cairo
Country : Egypt
Telephone : (20-2) 22872246
Facsimile : (20-2) 22872247
Mobile : (20-10) 1716121
Email : orsteel@hotmail.com
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Cairo.
KEY PRINCIPALS
·
Shallaby
Khalil Managing
Partner
·
Yousef Mohamed
Yousef Partner
·
Ms Radwa
Mohamed Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 2005
Legal Form :
Sharikat Tadhamun Bill
Asshum (Limited Liability
Partnership)
Commercial Reg. No. : 4958, Nasr
City
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Partner (s)
·
Shallaby
Khalil
·
Yousef Mohamed
Yousef
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
stainless materials.
Import Countries
: Japan, Italy and the United States of
America.
Operating Trend : Steady
Subject has a
workforce of 7 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 4,100,000 £E 4,680,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
· Egyptian Saudi Finance Bank
El Thawra Building
14 El Alfy Street
Cairo
Tel: (20-2) 5899396 / 5901907 /
5902646
Fax: (20-2) 5937950
Email: alfi@esf-bank.com
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Orient Steel is a
relatively new business with operations commencing in 2005. It is engaged in
the import and distribution of stainless materials.
According to local sources subject is making steady
progress in the local business market and nothing detrimental has been reported
regarding 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 deemed
admissible.
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%)