MIRA
INFORM REPORT
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Report Date : |
11.01.2008 |
IDENTIFICATION
DETAILS
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Correct Name : |
VALENTINO CO |
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Registered Office : |
4 Kids Shop, 171
Mohamed Fared Street, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2006 |
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Date of Incorporation : |
1993 |
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Com. Reg. No.: |
352/2006, Cairo |
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Legal Form : |
General Partnership |
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Line of Business : |
Engaged in the wholesale
and retail of textiles, ready made garments, footwear and clothing
accessories. |
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 : VALENTINO CO
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 1993
Commercial Registration Number : 352/2006, Cairo
Partners Capital : £E 60,000
Total Workforce : 6
Line of Business : Wholesalers and retailers of textiles, ready made garments, footwear
and clothing accessories.
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
VALENTINO CO
ADDRESS
Registered & Physical Address
Location : 4 Kids Shop
Street : 171 Mohamed Fared Street
Town : Cairo
Country : Egypt
Telephone : (20-2) 23952707
Facsimile : (20-2) 23952750
Mobile : (20-12) 2152066
Email : amrodarwaish@link.net
Premises
Subject operates
from a small suite of offices and a showroom that are rented and located in the
Central Business Area of Cairo.
KEY PRINCIPALS
·
Amro Mohamed
Darwish Managing
Partner
·
Mohamed El
Sayed El Talini Partner
LEGAL FORM & OWNERS
Date of Establishment : 1993
Legal Form :
Sharikat Tadhamun (General
Partnership)
Commercial Reg. No. : 352/2006,
Cairo
Partners Capital : £E 60,000
Name of Partner (s)
·
Amro Mohamed
Darwish
·
Mohamed El
Sayed El Talini
Note to the Legal Form
The Company Law defines “Sharikat Tadhamun” as a company established between two or more general partners who will jointly and unlimitedly, to the extent of their personal assets, be responsible for the liabilities of the company. Creditors may claim the debts from either the company as a separate legal entity or from the general partners.
Notwithstanding the English translation of its name, this type of company should not be compared to the partnership concept under English Law. A Sharikat Tadhamun is considered a company and has the attributes of a corporation similar to that of a partnership under Scottish Law or to the “Societe en Nom Collectif” under French Law.
There are no legal requirements concerning the amount of capital of a general partnership. The shares of each partner, presented in cash, kind or rights, must not be issued in the form of negotiable instruments, nor can they be transferred or assigned without the unanimous approval of the partners unless the memorandum specifically provides otherwise.
AFFILIATED COMPANIES
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El Darwish
Office For Import
32 Saad Zagloul Street
Port Said
Tel : (20-12) 2152066
LINE OF BUSINESS
Operations : Engaged in the wholesale and retail of
textiles, ready made garments, footwear and clothing accessories.
Import Countries
: Europe and the Far East.
Operating Trend
: Steady
Subject has a
workforce of 6 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 Sales £E 4,100,000 £E 4,500,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
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National Bank
of Abu Dhabi
Nile Tower, 18th Floor
21 Giza Street
Cairo
Tel : (20-2) 23609724
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the
credit figure of US$ 100,000:
Established in 1993,
subject is involved in the wholesale and retail of textiles, ready made
garments, footwear and clothing accessories.
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$ 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%)