MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
NOUR EL HOUDA IMPORT & EXPORT CO |
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Registered Office : |
23 Ahmed Gad
Street, Mansoura |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
2002 |
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Com. Reg. No.: |
10736, Mansoura |
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Legal Form : |
Limited Liability Partnership |
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Line of Business : |
Import and distribution of general foodstuff |
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 : NOUR EL HOUDA IMPORT & EXPORT CO
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 2002
Commercial Registration Number : 10736, Mansoura
Tax Card Number : 501-775-390
Issued Capital : £E 50,000
Paid up Capital : £E 50,000
Total Workforce : 6
Activities : Import and distribution of general foodstuff
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 100,000
COMPANY NAME
NOUR EL HOUDA
IMPORT & EXPORT CO
ADDRESS
Registered & Physical Address
Location : 23 Ahmed Gad Street
Town : Mansoura
Country : Egypt
Telephone : (20-50) 2248006
Facsimile : (20-50) 2248006
Mobile : (20-10) 1000344
Email : the_ghost803@hotmail.com
Premises
Subject operates from
a small suite of offices and a showroom that are rented and located in the
Central Business Area of Mansoura.
KEY PRINCIPALS
Name Position
·
Mohamed
Mahmoud Moorsi Managing
Partner
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Hussain
Mahmoud Moorsi Partner
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Mukhtar
Mohamed Administration
Manager
LEGAL FORM & OWNERS
Date of Establishment : 2002
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 10736, Mansoura
Tax Card No. : 501-775-390
Issued Capital : £E 50,000
Paid up Capital :
£E 50,000
Name of Shareholder (s)
·
Mohamed
Mahmoud Moorsi
·
Hussain
Mahmoud Moorsi
OPERATIONS
Activities: Engaged in the import and distribution of
general foodstuff including seeds, dried food,
lentils, beans, and soya.
Import
Countries: India, Thailand
and Vietnam
Operating Trend: Steady
Subject has a
workforce of 6 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 5,800,000 £E 6,400,000
Local sources
consider subject’s financial condition to be Fair.
The above financial
figures are based on estimations by our local sources.
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 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.
The information in
this report has been confirmed by Mr Mukhtar
Mohamed, Administration Manager.
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%)