MIRA
INFORM REPORT
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Report Date : |
27.02.2008 |
IDENTIFICATION
DETAILS
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Name : |
DELTA EGYPT FOR IMPORT EXPORT |
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Registered Office : |
4/1 Lasilki Street, Flat No. 502, 5th Floor, New Maadi,
Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1999 |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Distributors of Chemicals, Dyeing and Colouring Agents for Fabrics and Textiles. |
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$ 150,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : DELTA EGYPT FOR IMPORT EXPORT
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1999
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 15
Line of Business : Distributors of chemicals, dyeing and colouring
agents for fabrics and textiles.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
DELTA EGYPT FOR IMPORT EXPORT
ADDRESS
Registered & Physical Address
Street : 4/1 Lasilki
Street, Flat No. 502, 5th Floor
Area : New Maadi
Town : Cairo
Country : Egypt
Telephone : (20-2) 5167657
Facsimile : (20-2) 5167326
Email : deltaeg@deltaegypt.co.eg
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
Note
Subject moved from 22 Street No. 270, New Maadi, Cairo in March 2005.
KEY PRINCIPALS
· Abdul Hameed
Bondog Managing
Partner
· Khalid Bondog Partner
· Mohamed Al Bandari Sales
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1999
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Partner (s)
· Abdul Hameed
Bondog
· Khalid Bondog
LINE OF BUSINESS
Operations : Engaged in the import and distribution of
chemicals, dyeing and colouring agents for fabrics and
textiles.
Import Countries : Europe and the Far East.
Operating Trend : Steady
Subject has a workforce of 15 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
6,900,000 £E
7,350,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Societe General Bank
Evergreen Building
10 Talaat Harb
Street
Cairo
Tel :
(20-2) 5749376
Fax :
(20-2) 5776249
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
Date of transaction May
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 US$ 100,000:
Established in 1999, subject is involved in the import and distribution
of chemicals, dyeing and colouring agents for fabrics and textiles.
Local sources report that payment obligations are met in a generally
timely manner and the operating history is clear. As such the company is deemed
a fair trade risk and the above credit figure is considered to be within
subject’s financial means.
Maximum suggested credit figure: US$ 150,000
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%)