MIRA
INFORM REPORT
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Report Date : |
22.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
ATTA BROTHERS CO |
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Registered Office : |
5 Masras Street, Abou Shahin, El Mahalla El Kurba |
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Country : |
Egypt |
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Financials (as on) : |
31/12/2006 |
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Date of Incorporation : |
1988 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Dying and printing of bed
sheets, T-shirts and trousers. |
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 : ATTA BROTHERS CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1988
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Total Workforce : 50
Line of Business :
Dying and printing of bed sheets, T-shirts and
trousers.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
ATTA BROTHERS CO
ADDRESS
Registered & Physical Address
Street : 5 Masras
Street
Area : Abou Shahin
Town : El Mahalla
El Kurba
Country : Egypt
Telephone : (20-40) 2229630
Facsimile : (20-40) 2229643
Email : atta2002eg@hotmail.com
Premises
Subject operates from a medium sized suite of offices and a factory that
are owned and located in the Industrial Area of El Mahalla El Kurba.
KEY PRINCIPALS
· Mohamed
Abdul Jalil Atta Managing
Partner
· Osama
Abdul Jalil Atta Partner
· Essam
Abdul Jalil Atta Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1988
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Issued Capital : £E 1,000,000
Paid up Capital : £E 1,000,000
Name of Partner (s)
· Mohamed
Abdul Jalil Atta
· Osama
Abdul Jalil Atta
· Essam
Abdul Jalil Atta
LINE OF BUSINESS
Operations : Engaged
in the dying and printing of bed sheets, T-shirts and trousers. Subject is also
engaged in the cutting and packing of blankets.
Import Countries : China
Brand Names : “SHANDO” & “ESKIMO”
Operating Trend : Steady
Subject has a workforce of 50 employees.
FINANCIAL
HIGHLIGHTS
Financial highlights provided by outside sources are given below :
Currency : Egyptian Pounds (£E)
Year
Ending 31/12/05: Year
Ending 31/12/06:
Total Revenue £E
9,750,000 £E
10,385,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Societe Generale Bank
22 El Tegara
School Street
El Mahalla El
Kurba
Tel: (20-40)
2246904
Fax: (20-40)
2246902
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
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.
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%)