MIRA
INFORM REPORT
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Report Date : |
05.06.2008 |
IDENTIFICATION
DETAILS
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Name : |
QAMR FOR IMPORT & EXPORT |
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Registered Office : |
Sahel
Road cross with Yosery Helmy Street, El Farag, Cairo |
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Country : |
Egypt |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
1983 |
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Com. Reg. No.: |
219368, Cairo |
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Legal Form : |
Sole Proprietorship |
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Line of Business : |
Wholesale and Retail of dried food, as well as importing and
distributing agricultural products and machinery |
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$ 250,000 |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
SUMMARY
Company Name : QAMR FOR IMPORT & EXPORT
Also Known As : ABDEL FATTAH METWALLY
Country of Origin : Egypt
Legal Form : Sole Proprietorship
Registration Date : 1983
Commercial Registration Number : 219368, Cairo
Invested Capital : £E 400,000
Total Workforce : 25
Activities : Wholesale and retail of dried food, as well as importing and distributing
agricultural products and machinery
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
QAMR FOR IMPORT
& EXPORT
ALSO KNOWN AS
ABDEL FATTAH
METWALLY
ADDRESS
Registered & Physical Address
Street : Sahel
Road cross with Yosery Helmy Street
Area : El Farag
Town : Cairo
Country : Egypt
Telephone : (20-2) 22032820 / 22021138
Facsimile : (20-2) 24314969 / 23936726
Mobile : (20-12) 2106583 / (20-10) 7290777
Premises
Subject operates
from a small suite of offices and a warehouse that are rented and located in
the Suburban Business Area of Cairo.
Branch Office (s)
Location Description
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5
Kasr El Nile Street Showroom
premises
Cairo
Tel: (20-2) 23936926
KEY PRINCIPALS
Name Position
·
Abd
El Fattah Metwally Qamr Proprietor
& General Manager
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Antar Ismail Assistant
General Manager
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Mohsin
Sayed Sales
Manager
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Ms Heba Ahmed Administrative
Secretary
LEGAL FORM & OWNERS
Date of Establishment : 1983
Legal Form :
Sole Proprietorship
Commercial Reg. No. : 219368, Cairo
Import Licence No. : 9328
Export No. : 34724
Invested Capital
: £E 400,000
Mr Abd El Fattah Metwally Qamr is the sole proprietor
of the business.
OPERATIONS
Activities: Engaged in the wholesale and retail of
dried food such as rice, lentils and seeds.
Subject also imports and distributes
agricultural products and machinery.
Import
Countries: Canada and the
United Kingdom
International
Suppliers:
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Walkerseeds Canada
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Bitar United Kingdom
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Navega United Kingdom
Operating Trend: Steady
Subject has a
workforce of 25 employees.
FINANCIAL DATA
Financial
highlights provided by local sources are given below:
Currency: Egyptian
Pound (£E)
Year
Ending 31/12/06: Year
Ending 31/12/07:
Total Sales £E 15,200,000 £E 16,000,000
Local sources consider
subject’s financial condition to be Fair.
The above financial
figures were confirmed by Mr Mohsin Sayed,
Sales Manager.
BANKERS
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National Bank
of Egypt
24, Sherif Street
Cairo
Tel : (20-2) 3924175
Fax : (20-2) 3924143
·
Misr
International Bank (MIBANK)
14, Alfy Street
PO Box : 631
Cairo
Tel : (20-2) 5931002
Fax : (20-2) 5912306
PAYMENT HISTORY
No complaints
regarding subject’s payments have been reported.
Date of
transaction August 2003 January 2004
Credit amount 200,000 183,930
Amount overdue 0 0
Payment terms 90
days 90
days
Payment Method Letters
of Credit Letters
of Credit
Paying record No
Complaints No
Complaints
Currency US
Dollars Canadian
Dollars
GENERAL COMMENTS
Qamr For Import
& Export was established in 1983 and is a Sole Proprietorship owned by Mr Abd El Fattah Metwally Qamr, a respected figure in
the local business community.
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
business is considered to be a fair trade risk and the above credit figure is
within subject’s financial means.
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%)