%2007-Jun-2008_files/image002.jpg){kind=small}
MIRA
INFORM REPORT
|
Report Date : |
07.06.2008 |
IDENTIFICATION
DETAILS
|
Name : |
EGYPT FOR MEDICAL CLOTHES (MEDIC) |
|
|
|
|
Registered Office : |
Anwar
Wagdy Tower, 4 Mohamed Mazloum Street, Bab
El Louk, Abdin, PO Box 84, Cairo 11511 |
|
|
|
|
Country : |
Egypt |
|
|
|
|
Financials (as on) : |
31.12.2007 |
|
|
|
|
Date of Incorporation : |
1989 |
|
|
|
|
Com. Reg. No.: |
9388, Cairo |
|
|
|
|
Legal Form : |
Limited Liability Partnership |
|
|
|
|
Line of Business : |
Production of a wide range of
Protective Apparel |
RATING &
COMMENTS
|
MIRA’s Rating : |
Ba |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
Maximum Credit Limit : |
US$ 250,000 |
|
|
|
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
Litigation : |
Clear |
SUMMARY
Company Name : EGYPT FOR MEDICAL CLOTHES (MEDIC)
Country of Origin : Egypt
Legal Form : Limited Liability Partnership
Registration Date : 1989
Commercial Registration Number : 9388, Cairo
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Total Workforce : 150
Activities : Production of a wide range of protective apparel
Financial Condition : Fair
Payments : Nothing detrimental uncovered
Operating Trend : Steady
Recommended Credit Limit : US$ 250,000
COMPANY NAME
EGYPT FOR MEDICAL
CLOTHES (MEDIC)
ADDRESS
Registered & Physical Address
Building : Anwar
Wagdy Tower
Street : 4
Mohamed Mazloum Street
Area : Bab
El Louk, Abdin
PO Box : 84
Town : Cairo 11511
Country : Egypt
Telephone : (20-2) 23930905
/ 23929225 / 23924899
Facsimile : (20-2) 23917432
Premises
Subject operates
from a medium sized suite of offices that are rented and located in the Central
Business Area of Cairo.
Branch Office (s)
Location Description
·
2nd
Industrial Zone, Plot 7 & 9 Owned
factory premises
Sadat
City
Menoufeya
Tel: (20-48)
3600474 / 3600371
Fax: (20-48)
3600436
KEY PRINCIPALS
Name Position
·
Dr.
Nayer Wayes Mikhail Abd El Sayed Managing
Partner
·
Sameh
Saad Finance
Manager
·
Emad
Hdeeb Administration
Manager
·
Tamer
William Import
Manager
·
Ahmed
Mohamed Sales
Manager
LEGAL FORM & OWNERS
Date of Establishment : 1989
Legal Form :
Limited Liability
Partnership
Commercial Reg. No. : 9388, Cairo
Issued Capital : £E 100,000
Paid up Capital : £E 100,000
Name of Shareholder (s)
·
Dr.
Nayer Wayes Mikhail Abd El Sayed
·
Egyptian
businessmen & private investors
OPERATIONS
Activities: Engaged in the
production of a wide range of protective apparel consisting of surgical drapes and
gowns, face masks, protective gowns, scrubs, headwear, shoe covers, lab coats
coveralls. Subject’s products are used in the medical, healthcare, nursing,
dental, pharmaceutical, industrial, food, laboratory, and safety industries.
Production
Capacity: 3 million units
per annum
Import
Countries: India and Europe
Export
Countries: Portugal, Saudi Arabia, and Jordan
Brand Names: COMFYGUARD
Operating Trend: Steady
Subject has a
workforce of approximately 150 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 21,000,000 £E 25,000,000
Local sources
consider subject’s financial condition to be Fair.
BANKERS
·
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.
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.
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
|
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 |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
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%)