MIRA
INFORM REPORT
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Report Date : |
30.01.2008 |
IDENTIFICATION
DETAILS
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Name : |
PACIFIC WATER TECHNOLOGIES |
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Registered Office : |
7569 Dr Shereen Badawy Street, Off El Madina El Munawara Street PO
Box 165, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
1st
January 2007 |
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Com. Reg. No.: |
1950, Cairo |
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Legal Form : |
Limited Liability
Partnership |
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Line of Business : |
Distributors of
water softeners, ionic exchange resins, index water systems, sea water
desalination plants, sewage treatments and water treatment chemicals |
RATING &
COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Maximum Credit Limit : |
US$ 100,000 |
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Status : |
New & Small Company |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : PACIFIC WATER
TECHNOLOGIES
Country of Origin : Egypt
Legal Form :
Limited Liability Partnership
Registration Date : 1st
January 2007
Commercial Registration
Number : 1950, Cairo
Issued Capital : £E
250,000
Paid up Capital : £E
250,000
Total Workforce : 5
Line of Business :
Distributors of water softeners, ionic exchange
resins, index water systems, sea water
desalination
plants, sewage treatments and water treatment
chemicals.
Financial Condition : Undetermined
Payments :
Nothing detrimental uncovered
COMPANY NAME
PACIFIC WATER TECHNOLOGIES
ADDRESS
Registered & Physical Address
Location : 7569 Dr Shereen
Badawy Street, Off El Madina El Munawara Street
PO Box : 165
Town : Cairo
Country : Egypt
Telephone : (20-2) 26679313
Facsimile : (20-2)
26679801
Mobile : (20-10)
1516628
Email :
p.sales@pacific.net
Premises
Subject operates from a small suite of offices and a warehouse that are
rented and located in the Central Business Area of Cairo.
KEY PRINCIPALS
· Ahmed El Shaarawy Managing
Partner
· Mohamed Ahmed Saad Partner
LEGAL FORM & OWNERS
Date of
Establishment : 1st
January 2007
Legal Form : Sharikat Tadhamun
Bill Asshum (Limited Liability Partnership)
Commercial Reg.
No. : 1950, Cairo
Issued Capital : £E 250,000
Paid up Capital : £E 250,000
Name of Partner (s)
· Ahmed El Shaarawy
· Mohamed Ahmed Saad
LINE OF BUSINESS
Operations : Engaged in the import and distribution of water
softeners, ionic exchange
resins, index water systems, sea water desalination plants, sewage
treatments
and water treatment chemicals.
Import Countries : Europe and the Far East.
Agencies Held :
· Perolide United Kingdom
Subject has a workforce of 5 employees.
FINANCIAL HIGHLIGHTS
Subject is a newly formed business and as a result financial information
is not currently available.
BANKERS
·
HSBC Bank Egypt SAE
1 Roxy Square
Heliopolis
Cairo
Tel : (20-2)
24511480
Fax : (20-2)
22583152
PAYMENT HISTORY
No complaints regarding subject’s payments have been reported.
GENERAL COMMENTS
Opinion on the credit figure of US$ 100,000:
Investigations undertaken in Cairo did not reveal any sign of payment
defaults or delays during initial trading stages, and subject is believed to
meet its payment obligations in a timely manner, nevertheless, and in view of
the company’s infancy and the lack of a more consistent payment and financial record,
a measure of caution is advisable and a close monitoring of subject’s business
development is recommended.
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%)