MIRA
INFORM REPORT
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Report Date : |
16.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
EL EKHWA CO FOR SUPPLIES,
IMPORT & EXPORT |
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Registered Office : |
3 Haret El Khallat Street (Massara Street), Rood El Farag, Shubra,
Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1994 |
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Com. Reg. No.: |
12918 |
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Legal Form : |
General Partnership |
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Line of Business : |
Import, Distribution and Retail of Stainless Steel Plates, Pipes and Rods |
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 :
EL EKHWA CO FOR SUPPLIES, IMPORT &
EXPORT
Country of Origin :
Egypt
Legal Form :
General Partnership
Registration Date :
1994
Commercial Registration Number :
12918
Import Registration Number :
25917
Partners Capital :
£E 50,000
Total Workforce :
25
Line of Business :
Import, distribution and retail of stainless steel plates, pipes and rods
Financial Condition :
Fair
Payments :
Nothing detrimental uncovered
Operating Trend :
Steady
COMPANY NAME
EL EKHWA CO FOR SUPPLIES, IMPORT & EXPORT
ADDRESS
Registered & Physical Address
Street : 3 Haret El
Khallat Street (Massara Street)
Area : Rood El
Farag, Shubra
Town : Cairo
Country : Egypt
Telephone : (20-2) 25760649
/ 25757032 / 25757006
Facsimile : (20-2)
25782473
Premises
Subject operates from a medium sized suite of offices and a warehouse
that are rented and located in the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
· Souk El Aser, El
Sabtiya, Block 5, Shop 16 & 1 Rented
showroom
Shubra
Cairo
Tel:
(20-2) 25783444
KEY PRINCIPALS
· Mohamed Ali
Mohamed El Bourie Managing
Partner
· Mahmoud Ali El
Bourie Partner
· Moustafa Ibrahim Finance
Manager
LEGAL FORM & OWNERS
Date of
Establishment : 1994
Legal Form : Sharikat Tadhamun
(General Partnership)
Commercial Reg.
No. : 12918
Import Reg. No. : 25917
Partners Capital : £E 50,000
Name of Partner (s)
· Mohamed Ali
Mohamed El Bourie
· Mahmoud Ali El
Bourie
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.
LINE OF BUSINESS
Operations : Engaged in the import, distribution and retail of stainless
steel plates, pipes and rods.
Import Countries : Korea, Taiwan, India, China, Germany, Netherlands,
and Belgium.
Operating Trend : Steady
Subject has a workforce of 25 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 31,900,000 £E 36,500,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
Arab Investment Bank
8 Abdel Khalek
Tharwat Street
Cairo
Tel: (20-2)
25765020
·
National Societe Generale Bank
5 Champollion
Street
Cairo
Tel: (20-2)
27707777
·
Misr International Bank (MIBANK)
14, Alfy Street
PO Box :
631
Cairo
Tel :
(20-2) 5931002
Fax :
(20-2) 5912306
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
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 and
the above credit figure is 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%)