MIRA
INFORM REPORT
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Report Date : |
08.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
BAKR SONS COMPANY FOR TRADE & IMPORT |
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Registered Office : |
100
Moaz LeDinallah El Fatemy Street, Area El Gamaleya, Abdin, Cairo |
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Country : |
Egypt |
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Date of Incorporation : |
2006 |
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Legal Form : |
General Partnership |
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Line of Business : |
Manufacture of Jute and Elastic
Yarns |
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 : BAKR SONS COMPANY FOR TRADE & IMPORT
Country of Origin : Egypt
Legal Form : General Partnership
Registration Date : 2006
Partners Capital : £E 50,000
Total Workforce : 25
Activities : Manufacture of jute and elastic yarns
Financial Condition : Undetermined
Payments : Nothing detrimental uncovered
Recommended Credit Limit : US$ 100,000
COMPANY NAME
BAKR SONS COMPANY
FOR TRADE & IMPORT
ADDRESS
Registered & Physical Address
Street : 100
Moaz LeDinallah El Fatemy Street
Area : El
Gamaleya, Abdin
Town : Cairo
Country : Egypt
Telephone : (20-2) 25905613
Facsimile : (20-2) 25905613
Mobile : (20-10) 1040709 / 5833394
Premises
Subject operates
from a small suite of offices that are rented and located in the Suburban
Business Area of Cairo.
Branch Office (s)
Location Description
·
13
El Tambouksheya Street Factory
premises
El
Gamaleya, Abdin
Cairo
Tel: (20-12)
7770210
KEY PRINCIPALS
Name Position
·
Bakr
Mohamed Bakr Managing
Partner
·
Mahmoud
Mohamed Bakr Partner
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Araby
Mohamed Bakr Partner
·
Mohamed
Fouad Ahmed Factory
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2006
Legal Form :
General Partnership
Partners Capital : £E 50,000
Name of Partner (s)
·
Bakr
Mohamed Bakr
·
Mahmoud
Mohamed Bakr
·
Araby
Mohamed Bakr
OPERATIONS
Activities: Engaged in the
manufacture of jute and elastic yarns.
Import
Countries: India and Europe
Subject has a
workforce of 25 employees.
FINANCIAL DATA
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
·
Banque du Caire
SAE
19
Adly Street
Cairo
Tel: (20-2)
3926915
Fax: (20-2)
3951713
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Commercial
International Bank (CIB)
Nile Tower Building
21-23 Giza Street
PO Box : 2430
Cairo
Tel : (20-2) 5703043
Fax : (20-2) 5703172 / 5072691
PAYMENT HISTORY
No complaints regarding
subject’s payments have been reported.
GENERAL COMMENTS
Bakr Sons Company
For Trade & Import is a relatively newly established business with
operations commencing in 2006. It is engaged in the
manufacture of jute and elastic yarns.
According to local
sources subject is making steady progress in the local business market and
nothing detrimental has been reported regarding the manner in which payments
are fulfilled. As such the business is considered to be a fair trade risk.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.37 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.68.08 |
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%)