MIRA
INFORM REPORT
|
Report Date : |
21.01.2008 |
IDENTIFICATION
DETAILS
|
Name : |
NILE TRADING
COMPANY |
|
|
|
|
Registered Office : |
29A El Akhsid Street, Roda Manial, Cairo |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Date of Incorporation : |
June, 2003 |
|
|
|
|
Com. Reg. No.: |
47978 |
|
|
|
|
Legal Form : |
Limited Liability
Partnership |
|
|
|
|
Line of Business : |
Import and
Distribution of General Merchandise |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 100,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : NILE TRADING COMPANY
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : June 2003
Commercial
Registration Number : 47978,
Cairo
Issued Capital : £E
100,000
Paid up Capital : £E
100,000
Total Workforce : 6
Line of Business : Import and
distribution of general merchandise.
Financial Condition : Fair
Payments :
Nothing detrimental uncovered
Operating Trend : Steady
COMPANY NAME
NILE TRADING COMPANY
ADDRESS
Registered & Physical Address
Street : 29A El
Akhsid Street
Area : Roda Manial
Town : Cairo
Country : Egypt
Telephone : (20-2) 5325952
Facsimile : (20-2) 5325952
Mobile : (20-12)
3235258
Residential No. : (20-2) 3687915
Premises
Subject operates from a small suite of offices that are rented and
located in the Central Business Area of Cairo.
KEY PRINCIPALS
· Waleed Musbah
Darwish Managing
Partner
· Fouad Musbah
Darwish Partner
· Musbah Darwish Partner
LEGAL FORM & OWNERS
Date of
Establishment : June 2003
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 47978, Cairo
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Partner (s)
· Waleed Musbah
Darwish
· Fouad Musbah
Darwish
· Musbah Darwish
LINE OF BUSINESS
Operations : Engaged in the import and distribution of general
merchandise.
Import Countries : India and Europe.
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 Revenue £E
3,860,000 £E 4,050,000
Local sources consider subject’s financial condition to be Fair.
BANKERS
·
National Bank of Egypt
24, Sherif Street
Cairo
Tel :
(20-2) 3924175
Fax :
(20-2) 3924143
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Nile Trading Company was established in June 2003 and is engaged in the
import and distribution of general merchandise.
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
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit consideration.
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)