MIRA
INFORM REPORT
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Report Date : |
09.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
BLUE SKIES EGYPT
SAE |
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Registered Office : |
3rd Industrial Area A1, Private Free Zone, 10th of Ramadan City |
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Country : |
Egypt |
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Date of Incorporation : |
2001 |
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Legal Form : |
Egyptian Joint Stock Company |
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Line of Business : |
Engaged in the
cultivation, processing, import and distribution of fruit and vegetables. |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : BLUE SKIES EGYPT SAE
Country of Origin : Egypt
Legal Form : Egyptian Joint Stock Company
Registration Date : 2001
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Total Workforce : 300
Line of Business : Cultivators, processors and distributors of fruit and vegetables.
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
COMPANY NAME
BLUE SKIES EGYPT
SAE
ADDRESS
Registered & Physical Address
Location : 3rd Industrial Area A1, Private
Free Zone
Town : 10th of Ramadan
City
Country : Egypt
Telephone : (20-15) 411167
Facsimile : (20-15) 411167
Mobile :
(20-12) 2200700
Premises
Subject operates
from a large suite of offices and a warehouse that are rented and located in
the Industrial Area of 10th of Ramadan City.
KEY PRINCIPALS
·
Anthony Pile Chairman
·
Mohamed Abdul Razik General
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2001, however
full activities did not begin until 2003.
Legal Form :
Societe Anonyme Egyptienne
- SAE (Egyptian Joint Stock Company)
Issued Capital : £E 500,000
Paid up Capital : £E 500,000
Name of Shareholder (s)
Percentage
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Blue Skies
Holding Ltd 100%
Paddock View, Springhill Farm
Harborough Road, Pitsford
Northampton NN6 9AA
United Kingdom
Tel : (44-1604) 881230
Fax : (44-1604) 882986
Email : info@blueskiesproducts.co.uk
Note to the Legal Form
The Egyptian Company Law provides that the capital of a Societe Anonyme Egyptienne - SAE – should not be less than £E 500,000 if shares are offered to the public and £E 250,000 if not. If shares are offered to the public they are freely transferable, if not, transfer may be restricted. Liability of shareholders is limited.
LINE OF BUSINESS
Operations : Engaged in the cultivation, processing,
import and distribution of fruit and vegetables.
Import Countries
: Europe and Africa.
Subject has a
workforce of approximately 300 employees.
FINANCIAL HIGHLIGHTS
Companies
registered in Egypt are not legally required to make their accounts public and
no financial information was released by the company or submitted by outside
sources.
BANKERS
·
Misr
International Bank (MIBANK)
Main Branch
10th of Ramadan City
Tel: (20-15) 378435
Fax: (20-15) 378327
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Established in 2001,
subject is involved in the import and distribution of fruit and vegetables.
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$ 200,000
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%)