MIRA
INFORM REPORT
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Report Date : |
09.07.2008 |
IDENTIFICATION
DETAILS
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Name : |
ASHA TRADE CO |
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Registered Office : |
6 El Guish
Street, PO Box 40, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1995 |
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Com. Reg. No.: |
11590, Mansoura |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and Distribution of
Tractors, Agriculture Machinery Spare Parts, and Batteries |
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$ 200,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : ASHA TRADE CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1995
Commercial Registration Number : 11590, Mansoura
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Total Workforce : 12
Activities :
Import and distribution of tractors, agriculture
machinery spare parts, and batteries
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 200,000
COMPANY NAME
ASHA TRADE CO
ADDRESS
Registered & Physical Address
Location : 6 El Guish Street
PO Box : 40
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2335575 / 2331101
Facsimile : (20-50) 2320200
Mobile : (20-12) 3169934
Email : asha@ashatrade,com.eg
Premises
Subject operates from
a small suite of offices that are rented and located in the Central Business
Area of Mansoura.
KEY PRINCIPALS
Name Position
·
Ahmed
Ahmed El Shimi Managing
Partner
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Dr
Hisham Ahmed Ahmed El Shimi Partner
·
Amer
Ahmed Ahmed El Shimi Partner
LEGAL FORM & OWNERS
Date of Establishment : 1995
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 11590, Mansoura
Issued Capital : £E 200,000
Paid up Capital : £E 200,000
Name of Shareholder (s)
·
Ahmed
Ahmed El Shimi
·
Dr
Hisham Ahmed Ahmed El Shimi
·
Amer
Ahmed Ahmed El Shimi
OPERATIONS
Activities: Engaged in the import
and distribution of tractors, agriculture machinery spare parts, and batteries.
Import
Countries: Czech Republic and Poland
International
Suppliers:
·
Zetor Czech Republic
·
Aruss Poland
Operating Trend: Steady
Subject has a
workforce of 12 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pounds (£E)
Year
Ending 31/12/06: Year Ending
31/12/07:
Total Sales £E 12,000,000 £E 14,500,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Ahmed Ahmed El Shimi,
Managing Partner.
BANKERS
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National Bank
of Egypt
55 El Kholafaa El Rashedeem Street
Mansoura
Tel: (20-50) 2233792
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
GENERAL COMMENTS
During the course of
this investigation nothing detrimental was uncovered regarding the manner in
which payment obligations are fulfilled. The operating history is clear and the
financial situation is satisfactory. As such we are of the opinion that the
subject is a fair trade risk and the above credit figure is within subject’s
financial means.
FOREIGN EXCHANGE
RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.43.16 |
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UK Pound |
1 |
Rs.85.51 |
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Euro |
1 |
Rs.67.95 |
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%)